Modular, Multipurpose Construction Takes Hold in Multifamily
Despite challenges brought on by the pandemic in the past year, multifamily has remained resilient. The sector is likely to remain strong throughout 2021 with key trends to watch including affordable housing development, multipurpose spaces and modular construction adoption, says Jeff Canfield, project executive, C.W. Driver Companies.
The National Low Income Housing Council reports that there are 1.3 million low-income households in California, but more than 300,000 affordable and available rental homes. With a deficit of nearly 1 million units statewide, there is significant demand for more affordable communities.
“With work-from-home expected to continue, developers are incorporating more flexible multipurpose in-unit spaces – think dens and nooks for remote work,” says Canfield. “Modular construction has also gained popularity, and with many touting its cost and time efficiencies, it’s expected to become widely adopted in 2021 and beyond. And while it’s a rather new form of development, as with any technology, the more commonplace it becomes, the more streamlined it will be.”
Canfield points to a development by Begonia Real Estate Development in Temple City. The mixed-use project encompasses four stories of multifamily over 14,000 square feet of retail and a partially enclosed parking garage.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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