The affordable housing problem isn’t one that’s going away anytime soon. With the rising costs of housing, the lack of housing, and the fact that many Americans live paycheck to paycheck, means the issue is rampant from coast to coast. While urban centers like New York and L.A. struggle to find solutions, almost every state is having issues providing housing for low to mid-income families.
Modular construction may be the solution to help alleviate some of the pain points that are driving the lack of affordable housing options. We’re going to take a deeper look at what the housing crisis looks like, and how modular affordable housing may be the solution.
VESTA Modular is more than just a modular construction company. Our services extend from design all the way to delivery. If your team is interested in using modular for your next project, make sure to reach today at 817-663-8527.
For many people living underneath their means, finding affordable housing is one of the biggest struggles of day-to-day life. It’s a multi-faceted issue that brings together the problems with homelessness, financial inequality and racial disparity. As it currently stands in the U.S., we’re short around 6.8 million affordable rental homes.
Additionally, around 37.1 million households and homeowners are considered “cost-burdened”. That means that 30% of the total household income goes straight toward housing costs. This not only has monumental consequences for millions of families across the country, but it is starting to impact the economic health of urban centers where opportunities are high but affordable housing just doesn’t exist.
This is leaving lower-income families in a hard place. Most of them struggle with the choice of either moving away toward greener pastures or trying to make it. The COVID-19 pandemic certainly hasn’t helped. But even before the global crisis, the high costs of coastal cities were driving residents and businesses toward the middle of the county.
Affordable housing isn’t just an issue for low-income families, either. With rising home costs in more affluent areas, middle-income families are struggling to stay afloat. In Seattle alone, housing costs have skyrocketed in early 2021 by around 20%. This leaves families with otherwise stable incomes out in the cold, and makes the affordable housing issue much more expansive.
While national, state level and local governmental bodies grapple with how to solve this problem; it’s often private industries with novel approaches and perspectives that offer the most elegant solutions.
Modular construction is more than shipping containers and prefabricated buildings. For low-income families searching for affordable housing, it can present a solution. But it takes more than the drive to implement modular affordable housing solutions; it takes action.
On that front, many contractors with a purpose are implementing modular designs and construction to create one-of-a-kind housing projects. At VESTA Modular, we’ve had the pleasure of working on several projects that are helping close the gap for low-income families looking for stable and affordable housing.
Around 4 in 10 households in the Atlanta area earn less than $45,000 per year. Couple that with the lack of affordable housing, an influx of high-paid workers and the rise of property taxes, and you can see why many Atlanta families are in a bind when it comes to finding a safe and affordable place to live.
Working with Place Properties and the Invest Atlanta Initiative on the Mason C Project, VESTA Modular helped provide a high-quality, low-cost housing solution utilizing modular construction. The project isn’t just alleviating some of the demand for affordable housing but also revitalizing the Historic Westside Neighborhood of Downtown Atlanta.
L.A. is certainly no stranger to the problems connecting affordable housing and homelessness. Using elements of modular design and shipping container construction, VESTA Modular assisted in constructing a 232-bed facility at the Vignes Homeless Housing Shelter in L.A.
The project is more than just beds too. The complex also houses other facilities:
What this project represents is a fast and cost-effective solution to a rampant national problem. Utilizing modular construction means buildings are often built off-site and installed in no time. Saving time is a critical component of what makes modular construction flexible. But, what makes the construction approach so alluring is how it cuts costs.
There’s a lot more to know about this awesome project. Download our case study to explore our modular approach to homeless housing.
Coinciding with the affordable housing crisis is the rise in construction costs. While the COVID-19 pandemic exacerbated existing construction industry issues, the sudden halt in the supply chain sent new home construction plummeting in early 2021. The two issues seem to feed into each other, making finding a solution that much harder.
This isn’t just about materials, either. You may have read about the insane costs of lumber; they were certainly viral-worthy. But when it comes to construction costs, materials are only half the equation. A lack of skilled construction labor is also part of the problem. For contractors and construction companies feeling the impact of material shortages and a lack of labor, modular construction offers the solution they need.
Modular construction isn’t just fast. It can offer a clever workaround for the common issues plaguing the construction industry. Short on lumber? Well, utilizing shipping container construction can save a significant chunk of your budget. Even using traditional materials for modular construction can mean cost savings.
You can also save on labor costs with modular. Since most of the prefabricated modular buildings utilize machine construction off-site in a factory setting, you don’t need a massive team on the job site to finish a project.
If your team is looking to build out a modular affordable housing project, VESTA Modular offers design and construction services as well as modular building leasing for on-site storage and office space. Reach out today to get started with your next project.