Like many other players in the residential construction industry in 2007, Modus Development had plans for a project that no longer aligned with market conditions. But in this case deteriorating market conditions ended up transforming the project rather than killing it.

The Arizona Republic recently published a feature on the Phoenix developer’s plans for Vivendi Apartments, a three-story 42-unit building in Scottsdale that originally had been designed as a condominium complex. If permitting proceeds as hoped for the current plan – which features smaller units (900 to 1,500 sq. ft.), more community space, and a recycling center for residents – construction could begin by the end of the year. Modus is investing $8 million in the project, according to the article. 

Meeting demand

“So many people have been displaced from their homes and condos since the market crash and the recession began,” Ed Gorman, president of Modus Development, told the paper. “There is a huge market of people that want to have quality housing that is sustainable and located within the city, but they can’t afford the high prices of previous condo projects.”

In fact, Vivendi is hardly Modus’ first advance into rental construction in Scottsdale: the company expects to begin construction this fall on a seven-unit complex, called Project Modus Zero. This development, in the downtown area, is billed as a green construction project that is expected to match or exceed the standards Modus adopted for a condominium project called Galleries at Turney. Completed in early 2008, Galleries at Turney was among the first residential projects in Arizona to qualify for certification through LEED for Homes. 

Fine Homebuilding Recommended Products

Fine Homebuilding receives a commission for items purchased through links on this site, including Amazon Associates and other affiliate advertising programs.

Handy Heat Gun

This heat gun is great for drying joint compound, primer and paint when patching drywall and plaster walls. Plus it can soften adhesive, get a very cold small engine to start, and shrink heat-shrink tubing.

Buy at Amazon

8067 All-Weather Flashing Tape

Available in 2- to 12-in. widths, this is a good general-purpose flashing tape that sticks well to most things. It features a two-piece release paper, water-shedding layers, and good UV resistance.

Buy at Amazon

Reliable Crimp Connectors

These reliable, high-quality connectors from Wirefy work on 10-22-gauge wire have heat-shrink insulation to keep out water and road salt.

Buy at Amazon