NYC Firm Awarded $70M to Build Modular Housing Community
Thorobird Cos., in a partnership with Bangladeshi American Community Development & Youth Services, will develop a 167-unit affordable property in Brooklyn.
Thorobird Cos., in a partnership with Bangladeshi American Community Development & Youth Services, has been awarded a $70 million contract by the City of New York to develop a 167-unit affordable community in Brooklyn.
The project will offer a mix of studio to four-bedroom units. Construction is expected to launch in 2021 and end in mid-2022. Once completed, the community will offer workforce training, medical services, afterschool care for students, a ground-level plaza for a farmer’s market and a green rooftop deck.
Located at 581 Grant Ave., in the East New York neighborhood, the community will be among the first to use modular design to construct the building, as well as the first RFP the City of New York has issued and awarded for modular construction.
The modular process involves pre-fabricating units offsite and then stacking the units on top of each other—a method that can save both time and money.
“We recognize that the city is entrusting us with one of the first affordable housing developments to be built this way is a great responsibility,” said Thomas Campbell, Thorobird managing director, in prepared remarks. “The ability to build off-site in a factory-controlled environment generates less waste, creates fewer community disturbances and allows for tighter construction. This is a smart way to build.”
Last month, a 68-unit modular multifamily building developed by Austin Street Partners, a joint venture of GreenStaxx (formerly Oaktree Development) and Dinosaur Capital Partners, broke ground in Newtown, Mass.