The share of permits for multifamily residences has steadily risen from 21 percent in 1991 to 41 percent in 2015. Andrew Weinreich, a contributor to Forbes, writes that the increased need for multifamily housing presents an opportunity for developers.
A few companies in New York City are offering modular homes, which are units that are built in a factory and shipped in-tact to the job site, where they are stacked and assembled.
Forest City Ratner, led by real estate developer Bruce Ratner, has made a considerable effort to get into modular housing. The company bought 21 acres of land in Brooklyn and has plans for 6,430 apartments.