SEATTLE, WA - Jonas Sylvester believes there is a potentially strong market for sustainably built, prefabricated housing in Portland. It's all a matter of timing. "We see Portland as a fantastic market," said Sylvester, vice president of investments for Unico Properties. "But the Portland market has a little more (apartment) vacancy and excess supply to work through." The excess supply, caused by the economic slowdown, the housing collapse and the emergence of condo conversions to the market, means that Unico will take a wait-and-see approach to rolling out its first multifamily, modular housing developments in Portland.
But Unico will begin construction on a prefab housing development next month in Seattle. The 66-unit development will be near Lake Union, Sylvester said. The Seattle-based company has two other Seattle sites planned for additional prefab housing. Unico owns and manages commercial properties in Portland and Seattle, including Portland's new Lovejoy in the Pearl District and partial ownership of U.S. Bancorp Tower.
A prototype of the prefab modular units, called "Inhabit," is on display in downtown Seattle on the Rainier Square roof park. It's open for tours on weekdays between 11:30 a.m. and 1:30 p.m. through mid-November. Unico President Dale Sperling said the units offer an eco-friendly alternative to market-rate housing. "We have a unique opportunity to change the economic, environmental and social factors of multifamily real estate," he said. "Modular construction fits with our vision to use sustainable business practices to create healthier communities."
Unico worked with two architecture firms on the apartments, Mithun and Hybrid Architecture of Seattle, to create the Inhabit prefab apartments. The units were built in a Transform LLC factory in Burlington, Wash., and the interior design was by Vision Art of Seattle.
Sperling said Unico will aim for LEED certification for the new development. The wood-framed Inhabit units will have double-paned, energy-efficient windows and flooring that uses less first-generation wood. In addition, they will have energy-efficient heat pumps and dual-flush toilets. Decking will be made from recycled plastic and cellulose, and flat roofs will accommodate a green roof system to reduce storm-water run-off. Sylvester said tenants will appreciate that the units are eco-friendly yet affordable. He added that the company can achieve greater cost savings as more of the Inhabit units are rolled out.
Sylvester said Unico will work "within existing zoning" in both cities to obtain approval for the developments. Terry Whitehill, the plan review section manager for the city of Portland, said the city would inspect the modular housing for compliance in the areas of the foundation, plumbing and how the units are connected. In addition, a state inspector would handle the inspection of the units at the factory, Whitehill said.
Sylvester said Inhabit will represent the first multifamily developments of prefab housing in the Northwest. "The concept of multifamily prefabricated units is very new in the U.S.," he said. Potential renters in Portland, he said, are "savvy about being environmentally conscious." But Unico is holding off, for now, on entering the Portland market. "We want to get through a number of Seattle projects first, and wait for a more opportune time in Portland," he said.
Source: djcOregon.com