Philadelphia // Building Modular
Innovation Creates Efficiency
Being a Philadelphia builder means we keep our eyes open for emerging trends in the region. That also means we provide solutions to our clients that are cutting edge, and ahead of trend. We can now see how certain predictions have played out, and what that could mean for the future.
For 10 years, VBC has been bringing modular solutions to the region as a Philadelphia builder. We have consistently proven the value of these products and techniques, and therefore we have looked at how the next several years could be impacted by the evolution of building in America.
Curbed Philly’s 2018 Predictions
Back in December of 2017, Curbed Philly published an article about trends to expect in 2018 for real estate in Philadelphia. Check that out here. To summarize, there were (5) trends that were identified:
- “More apartment concessions to sweeten the deal”
- “The tale of two renters: Millennials and baby boomers”
- “A boom in coworking and shared work spaces”
- “A different kind of shopping experience”
- “Philly will have some stiff nearby competition”
Of the construction slated for this year, multifamily builds are still making up “a good portion” of it. In addition, the article reports that luxury apartment rentals are down, given the average Philadelphian cannot afford them.
In terms of the style, cost, and marketing of properties, Curbed reports that Bradley J. Korman (co-CEO Korman Properties) says developers need to be aware of the needs of two very distinct customer types: Millennials and baby boomers. There is also going to be some new competition between Philadelphia and surrounding suburban areas for more affordable solutions.
Going Vertical In Philly
Several years ago, Forbes reported on the real estate boom happening in Philadelphia. They referred to the new FMC building as a “vertical neighborhood.” That’s apropos since it includes an AKA hotel, commercial office space, a park, and other amenities. The article cites major developers in the city and others who suggest that Philadelphia is undergoing a “renaissance” or sorts, and real estate development is at the forefront of it.
VBC has been creating vertical integration in its business model to produce projects with usefulness and integration in the community. As an emerging trend, that will likely continue on course and grow in popularity. However, it is important to stay tuned to things that always work, like quality customer service.
Being a Philadelphia builder means that we have to continue to see beyond the horizon. Therefore, we look forward to being a part of the rising popularity of vertically integrated developments, and innovative building techniques.