Wednesday, March 5, 2008

Modular Homes, the Way of the Future


Several months ago I wrote a post on how the only way for developers to make money anymore was by going Modular. That is, having the homes/multi-family buildings built off site at a factory and then shipped and installed on site. Well, the trend may be catching on. The Martha Condominiums is going up as we speak and in the least expected place...Northwest Washington, DC. Thats right, the address is 5414 1st Pl NW, and there are planned to be 20 luxury condominiums built with a starting price of $325,000 per unit, and at a cost of around $130 per square foot for the finished product, these units should profit the developer a pretty penny.

According to the listing, the units will have:
Hardwood floors
Exceptional kitchen with stylish cabinetry and granite countertops
Energy-efficient stainless steel appliances
Over 4500 sq. ft. of patio and terrace recreational space (with 2 handicap lifts)
Whirlpool tubs (Master bath)
Washer and dryer
Recessed lighting
Ceramic tile (all baths)
Crown moudling
Cable TV and high-speed Internet ready
8-foot ceilings and oversized windows; balconies*
Large walk-in closets; linen closet*
Elegant bathrooms with beautiful countertops.

...so I thought I would take a drive over to The Martha and here is what I saw...

Do buyers out there have a stigma against modular/manufactured housing?

1 comment:

Anonymous said...

I defiantly have a stigma to modular housing...it looks like a cube with some tacky accents. Something you should see out in Woodbridge or Gaithersburg -- not DC!