Modular Building May be Forced out of New York City

forest_city_ratner_module__co._creditNew York City is experiencing such a shortage of affordable housing that lotteries for affordable housing receive thousands of applications for a fraction of available units. According to modularhomecoach, state legislators in Albany are debating whether to renew the 421-a tax abatement, a program that promotes low cost residential development.

If it is linked to a prevailing wage bill—which essentially means parity with the current union wage, now at $45/hr—it would result in a huge wage jump at modular housing projects, and leave significant gaps in the availability of affordable housing. A modular factory could not survive paying those rates. As MHPronews understands, it would force modular builders out of the five boros. ##

(Photo credit: Forest City Ratner–modular construction in New York City)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top