For years, Place Properties developed its apartments the traditional way: find a site, bring in the materials and use crews to build it from the ground up.
But Place CEO Cecil Phillips is now all-in on a new way of developing apartments: assembling them in a factory hundreds of miles away, then putting the pieces together like a puzzle on the site.
The method is called modular construction. Phillips calls it the future of the housing industry, and he's placing a more-than-$30M bet that he's right.
“America, like in a lot of other places, we want what we want, we want it right away,” Phillips said at a Bisnow event in Atlanta last week. "Modular construction does more to scratch that itch, if you will, than traditional construction ever will."Place Properties owns and operates 3,200 apartment…
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