New multi family construction ideas

[Micah Tanner]

I am about to begin a project that currently has a delapidated structure on it that will probably be bulldozed. I am looking at putting 4-6 units on the property depending on costs and style chosen. I have been looking at 2 options.

1. Modular construction- The stackable cube type not mobile home style. It's hard to find costs on this type but I'm interested because vertical space is the only plentiful space on the property.

2. Steel framed construction- This method seems like it will be cheaper than stick built or modular. I have built Steel framed commercial but I have not seen it done in a residential setting in my area. It would be nice to be able to get a two-story structure if possible.

I would appreciate any input if you have done something similar or have researched either of these methods extensively. The area has plenty of potential tenants and there's not enough housing. Rental rates seem to go for around $1 - $1.25 per Sqft per month in the area.