Coming to Seattle: Affordable and Modular Rental Units
We have an update on a project we highlighted last March that will change the future of Seattle’s rental market. Last week, the Seattle Times published an article on Unico’s new development - Inhabit, made up of affordable, prefabricated apartment units. Prototypes of these units have been on display in Rainier Square Plaza in downtown Seattle for months now but finally Unico is waiting to close on a property that will become home to thier frist modular project.
The Dexter Avenue project will consist of 62 modular units ranging from 675 square foot one-bedrooms to 450 square feet studios. Targeting a work-force of 20-somethings who earn anywhere from 80 to 150 percent of the area’s median annual income ($50,000 for a single person), Inhabit can be delivered for up to 15 percent less than a conventional project. This is a welcome change to a city who is struggling to keep families and singles alike in the downtown core area. If we cannot figure this out, urban sprawl will never end.
Designed by Mithun and Hybrid, the Inhabit concept is getting great reviews by the Seattle Planning department. Although the design and concept are great, there are still some hurdles to overcome before modular rental units become the next big wave here in Seattle. Not only do code reviewers have many questions, but so do lenders who are trying to redefine the definition of prefab and modular. According to Diane Sugimura, director of Seattle’s Department of Planning and Development, “they’ve come a long way from mobile homes.”
I have no doubt that once Unico completes Seattle’s first major modular project people will quickly realize that prefab can not only be more efficient and cost effective but also well designed and superbly built. As the founder of GreenFab, I am banking on it.
Source: The Seattle Times
