Modules for a 700 unit apartment complex set for Fox Creek, Alberta, Canada will be built in a company-run factory near Shanghai, China and assembled on site, with the first phase of 48 suites, each 980 square feet, to be ready for occupancy in early 2016. Calgary’s Stack Modular is partnering with New York City’s Primco Holdings, according to calgaryherald.
The population of Fox Creek is only 2,113, but there is a shadow population of 8,000 temporary residents, mostly energy and forestry workers, prompting the city to dramatically raise business license rates for hotels. MHProNews has learned the business license for one hotel, the Timber Ridge Inn & Suites, has increased from $75 a year to $100,000 a year.
The luxury modular apartments will be fully furnished with lighting, appliances and a wall-mounted TV, and rents starting at $3,400 a month. David Weiss of Primco says, “It’s a great product to be delivering to the market. It’s not intended to supplant or to replace the hotels and the worker camps. There are instances where the man camps make more sense. There are instances where the hotels make more sense.”
The first apartments will be 980 square feet, two bedroom, two baths, in-suite laundry and balconies. Fox Creek Mayor Jim Ahn says, “Apartment living is ideal for company employees regardless of their length of stay, but what I like is that it provides families the opportunity to be together and experience our community. It’s like a gateway and families can then decide if this is the community where they want to stay and buy a home.”
Fox Creek is 140 miles northwest of Edmonton. ##
(Image credit: calgaryherald-Fox Creek modular apartments, Alberta, Canada)
Article submitted by Matthew J. Silver to Daily Business News-MHProNews.