The world is changing! Apartment complexes with community ground-floor work areas have been trending, especially since the onset of the pandemic. This booming multifamily trend is called the Live/Work Apartment! Let’s Talk about Live/Work apartments! A live/work unit is defined as a single unit (studio, loft, or one or two-bedroom) consisting of both a […]
Author Archive: Blair
Construction Costs 101: Stay ahead of price changes
We’ve all seen lumber prices make major news, but what’s happening with other material prices might surprise you as well. Building materials costs are rising at a record pace this year. As lumber prices begin to decline, builders face some of the steepest materials price increases in history. Nonresidential construction input prices are up 23.4% […]
Prefab Training | Become a future construction leader
Due to the pandemic, the construction sector lost more than 1 million workers, and almost all areas of the construction industry are experiencing project delays. According to the Labor Department, the industry is still down 238,000 workers from pre-pandemic levels as of June. Also, the Associated General Contractors of America have noted that many contractors […]
Developers | Is it time to start building with wood again?
We have all seen the headlines! Lumber prices have dropped 50% in the last two months, reassuring everyone in the building sector. Does this mean the lumber packages for your next project will be 50% cheaper? The answer might surprise you; read on. Lumber dropped about 5% week-over-week in July, trading at $650 per thousand board feet. Following […]
Let’s Talk About Three Hotels on One Site
Hotel developers are looking for a way to attract new customers while cutting costs. We have seen it before with dual-branded hotels, but is it possible with three hotels on one site? The answer is “Yes, it is!” The use of the multi-brand strategy has gradually grown in popularity in the U.S. over the past decade. […]
FOB | A critical acronym every developer should know
One of the most significant details that many developers overlook when diving into offsite delivery is transportation liability. Read below and get to know a term that will help you save millions in damages. There are several key processes needed to get a modular unit from the factory to the finish line. The modular box is assembled in a […]
Bathroom Pods 101 | A Developer’s Guide
When you think “prefab,” you often think of prefabricated parts like walls and trusses. Prefabricated bathrooms offer a more developed solution that can increase your speed-to-market. A bathroom pod is a factory-made bathroom unit that comes pre-installed with mechanical, electrical, plumbing, and HVAC. Once manufactured, it is shipped to an end construction site, ready to use. […]
Developers: Keep building through material shortages
The pandemic slowed sawmill production, supply chains, and factory operations, causing a shortage of construction materials in the United Stated. Now, with the reopening of the economy, builders have returned to the job site following months of lockdown to encounter an alarming materials shortage. What can be done about this? Shortages of materials are now more widespread […]
LIHTC 101 | A tax incentive program for developers
The demand for new housing products right now is strong, but aside from traditional financing challenges, there’s a factor stopping developers—and that is rising construction costs. As a developer, you need to take advantage of every opportunity to make a project profitable—LIHTC might be that opportunity. Read on! LIHTC stands for Low Income Housing Tax Credits. It provides […]
Developers | Is HUD Financing A Good Option?
You want to start a new project; however, the current economic situation is making you rethink which direction to go. Financing could be a solution, but which type? Today we talk about HUD financing. When you hear of a ‘HUD PROJECT,’ this typically means the HUD Section 221 (D4) Program is being used. HUD is an acronym […]