High End Modular Apartments Planned for Upstate New York

A large, upscale modular apartment complex may be in the offing just outside Albany, New York, according to what bizjournals tells MHProNews. Planned by Prime Cos., the modules for the 165-unit Hudson Square apartments will be made in Canada instead of in the U. S because of the value of the U. S. dollar versus the Canadian dollar.

The other reason for using modular methods is labor costs for stick-built would be much higher, especially if Prime Cos. seeks a federal loan guarantee for the project from the U. S. Department of Housing and Urban Development (HUD). The prevailing wages required under the federal Davis-Bacon Act would make the build cost prohibitive. ##

(Image credit: Prime Cos.-proposed Hudson Square modular apartments)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.