Business

Modular Housing: A Solution to the Territorial Housing Crisis?

The struggle to find and provide safe,affordable housing in the territory is not just limited to public agencies like the Virgin Islands Housing Authority. The decimation of the U.S.V.I’s housing stock by the 2017 hurricanes plus industry pressures in the years that followed have resulted in high costs for both construction and rental of homes, plus a tight labor market that is choking construction.  “"When is the last time we built 50 homes in a year in the Virgin Islands," Governor Bryan asked during an interview with the Consortium following his January State of the Territory Address. According to some estimates, building costs in the territory can run between $275 to $400 per square foot, with construction on St. Croix at the low end and St. John topping the scale. By comparison, costs in Puerto Rico run between $150-$180 per square foot, and on the mainland, depending on design, costs can be as low as $100 per square foot for construction.  One reason for the high construction ...