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In this episode of the Commercial Real Estate Podcast, hosts Aaron and Adam connect with Steven Haylestrom, CEO of The Modular Solution. Join them as they discuss the potential of modular construction in addressing Canada’s affordable housing crisis. They cover modular construction’s history, benefits, and challenges, highlighting its ability to reduce build time by 50%, improve quality control, and minimize waste. Challenges include resistance to change in the industry, financing issues, and the limited capacity of modular manufacturers. The episode concludes by calling for industry collaboration, education, and investment to scale modular construction as a viable solution for housing shortages.

Here are the key talking points from the episode:

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• Understanding Modular Construction
  
• Historical Context and Terminology
  
• Benefits of Modular Construction
  
• Challenges in Adoption
  
• Insurance and Financing Complications
  
• The Role of Industry Stakeholders
  
• The Importance of Standardization
  
• The Future of Modular Construction
  

More about our guest…

Steven Haylestrom is a leader in modular design, manufacturing, logistics, and site construction, with over 18 years of experience. As President and COO of The Modular Solution, he oversees modular projects from design to completion, focusing on quality, budget, and scheduling. Steven’s mission is to increase the construction of affordable housing across Canada using modular technology. He also volunteers as a consultant for organizations like AHFA Canada and HousingNowTO, leveraging his expertise to advance affordable housing and positively impact communities.

Episode Highlights

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• 00:00 – Intro
  
• 02:31 – Understanding Modular Construction
  
• 07:16 – Historical Context and Terminology
  
• 12:01 – Benefits of Modular Construction
  
• 17:31 – Challenges in Adoption
  
• 23:01 – Insurance and Financing Complications
  
• 28:01 – The Role of Industry Stakeholders
  
• 34:01 – The Importance of Standardization
  
• 40:01 – The Future of Modular Construction
  

Quotes

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• “My focus has been on helping clients leverage modular prefabrication to streamline housing development. It’s about efficiency and speed, especially in today’s climate.”
  

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• “One of the biggest advantages of modular construction is the time savings. We often see timelines reduced by up to 50%. That’s a game changer for developers. It minimizes waste and ensures a higher quality standard than traditional methods.”
  

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• “One major challenge is the mindset in the construction industry. There’s a significant resistance to change. Many still operate as if we’re decades behind in innovation. We need to break down those barriers.”
  

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• “The traditional financing models just don’t work for modular construction. Manufacturers need upfront payments, which complicates things. And it creates a risk, especially if manufacturers go bankrupt after taking deposits.”
  

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• “If we can educate stakeholders and streamline processes, I truly believe modular construction can revolutionize our industry.”
  

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