Speedy Multifamily Elevator Solution. One of the ways that young Americans have influenced the construction industry is that lately they have been prone to delay home purchases. This can be attributed to many factors including high prices for home ownership, a lack of the needed down payment and a delay in marriage and family. So, when they do leave their parent’s basement, generally they are renting in large numbers and not looking for the white picket fence.
The result is in many medium and large municipalities there is a predictable shortage of rental units and ultimately price inflation. Hence the multifamily building boom.
Governing.com demonstrates this through statistical data. They report that between the year 2000 and April of 2019 there was, “a median increase in the renter population of 31 percent…Over the same period, the number of owner-occupied dwellings also rose, but only by a median of 7 percent.”
That means building multifamily units is needed and needed fast. That need is further demonstrated by the recent number of multifamily unit starts as the market moves to fill demand.
According to Dodge Data & Analytics residential starts as a category only increased by 2% in July of 2020. That sounds pretty bad for business until you dive more into the numbers. Of those new starts multifamily units increased by a whopping 11%, while single family units (homes) showed an overall decline. Multifamily units are booming even in a tough Covid filled economy.
The above statements and stats are known in the industry, so what is the big deal? The big deal is that in a competitive market, speed to that market becomes extremely important. You want to be building on the upswing and not at the top when units get tough to fill. So any edge you can find to decrease the time of project completion the better. That speed is crucial as the fight to fill the void in housing becomes a race. The race will either be won or lost by various builders and design build firms.
Keep in mind that the race now includes not just general apartment complexes or condominiums. They are also a wide range of market specific dwelling spaces. Subcategories such as senior living, low income or non-traditional mixed use building projects are on an upward trajectory.
One of the time saving mechanisms was addressed on a conference call I attended with design build industry leaders. We were discussing the concept and current acceptance of modular as the solution to the speed of delivery dilemma. A participant, Patrick Kennedy of Panoramic Interests downplayed the diversification of the market, and maintained the time to build could be significantly reduced if they stuck to three types of building plans that could easily fit burgeoning subcategories. He said they have three plans, “Hamburger, cheese burger and deluxe.”
Depending on who, why and where the units were to be built, the basic plans all fell into those three types of designs. Then depending on what specifically was requested, the spaces use could be altered, just not the overall plans. That kind of consolidation of offerings is very wise and makes perfect sense when building faster and more efficiently is a priority as it is today. Faster is better and they found a great way to speed things up. But that example is not the only edge available.
In car racing whether it is NASCAR, Formula 1 or a soapbox derby speed is important. But, it is the small things that are done, sometimes months before we hear, “Drivers start your engines!” that are key. To create the success and speed on the track a lot must happen, as a simple turn of a bolt on the chassis setup could be the difference between the checked flag and as Dale Earnhardt would say being the “first loser”.
So if finishing a building project quickly is important (and we all know that it is) then finding even small ways to speed up the building process is crucial. Using simplified plans, as discussed, is one way to achieve that speed. But so is placing in those plans a time saving modular elevator. One of the biggest complaints we hear about the elevator industry is that with traditional installation the whole project becomes bogged down. It is slow and laborious. But, what if all of that installation can take place in a factory, rain or shine and the elevator can be delivered and fully installed in a day or less, on the day of your choosing? That is a game changer.
Reality Check It is also a reality and not some fiction or dream of the future. So now it is time for a “reality check” in the form of a few questions:
So here’s the thing with the speedy multifamily elevator solution. If you are honest you can see the time and financial benefits of a quality, commercial modular elevator. And honestly chances are your competitors already have seen the benefits. We know this because as the multifamily market continues to heat up, we have doubled our sales and had to double our factory space and capacity to keep up.
If you would like to have a discussion just call us or email and ask anything you want. We will always be straightforward and honest as we have been in the modular elevator business longer than anyone else, with more experience and have a record of integrity and quality. We have installed five times more elevators than all of our competitors combined.
So, if you have project in mind just click the Fast Track button below. Just a few questions and we can have a thumbnail quote to you in a day. The opportunity is there for the checkered flag; take it with the help of Modular Elevator Manufacturing and a speedy multifamily elevator solution.
