We Are Ginosko Modular
Ginosko Modular is something entirely new: the industry’s first true one-stop-shop provider for the construction and development of affordable multifamily housing.
A vertically integrated company that leverages unmatched efficiencies to deliver affordable, accessible, and appealing modular housing solutions, Ginosko Modular produces high-quality 3D volumetric components at its newly constructed, custom-designed 105,000-square-foot production facility in Romulus, Michigan.
With assembly-line-style production efficiency and seamless structural and operational synergies, Ginosko Modular ensures quality and delivers fully furnished affordable multifamily units that are stackable, reconfigurable, and accommodate a virtually unlimited range of building layouts and designs.
The result is a company, a product, and a business model with the potential to shape the future of multifamily construction.
Why Multi-Family Modular?
48% of Michigan Renters pay too much for housing (Cost Burdened) and 28% of Michigan Renters reported extremely low incomes in 2019.
In 49 of Michigan’s 83 counties, residents spend more than 57% of their income on housing and transportation.
The 2022 national hourly wage a full-time worker must earn to afford a rental unit without being “Cost Burdened” is $25.82 Per Hour for a modest Two-Bedroom and $21.25 for a modest One-Bedroom.
An Affordable Housing Supply Crisis
For every 100 renter households in Michigan, there are only: 36 affordable and available units for 30% AMI households, and 68 affordable and available units for 50% AMI households.
Between 2000 and 2020, there were 1 million new affordable housing units built—against 7 million affordable renter household formations. The result is a large (and growing) gap of 6 million affordable housing units.
The Ginosko Vertical Integration Advantage
Higher Efficiencies, Lower Costs
Ginosko Modular’s cutting-edge manufacturing facility allows the company to control 60% of its production costs, eliminating many of the substantial markups in traditional construction supply chains.
Because Ginosko Modular’s innovative production processes make it possible to build faster and get to market quicker, financing costs are also reduced.
These competitive advantages and operational efficiencies yield the same, if not better financial returns than traditional construction projects or other 3D volumetric builds.
By using its own 105,000-square-foot factory and leveraging structural efficiencies, Ginosko is not only helping to bring the construction industry into the 21st century, it is decreasing the cost burden for renters.
When implemented effectively, Ginosko Modular’s modular construction approach has been shown to result in a higher-quality building, delivered in a shorter time frame, with more predictable costs and fewer environmental impacts.
Vertical integration mitigates the risks and costs associated with a growing skilled labor shortage and simplifies scheduling and sequencing for a speedier and more efficient production and assembly process that is ideally suited to meet the construction and affordable housing challenges of our time.
About Ginosko Development Group
Ginosko Development Company (GDC) is a real estate development firm specializing in quality affordable housing creation and preservation.
Founded in 2002, Ginosko Development Company began by recognizing the growing demands of establishing and preserving safe, quality residences for the full spectrum of socio-economic households.
GDC develops, acquires, repositions, and manages affordable multifamily properties in the U.S., primarily in the Midwestern region, with a focus to expand to select U.S. markets. GDC is involved in all aspects of multifamily residential housing development, construction, ownership and management.
Through GDC’s 20 years of affordable housing experience, it has identified and created unique strategies to increase net distributable proceeds to owners and investors by decreasing the housing cost burden to renters, especially low-income renters.
GDC by the Numbers
SQUARE FEET OWNED
Ginosko Modular is creating 100+ jobs!