Avanath Embraces Modular Housing Amid Crisis

Avanath Capital Management LLC, a renowned California-based affordable housing operator, is embarking on a new venture in response to an ever-worsening housing shortage in major U.S. cities. The company is shifting its focus from merely acquiring and maintaining affordable and workforce homes to constructing modular apartments in collaboration with New York-based Vessel Technologies. This strategic partnership aims to address housing difficulties in key urban areas—Boston, Los Angeles, New York City, and Chicago—by manufacturing housing units in factories, thus expanding availability and reducing construction time and costs. Avanath’s ambitious plan targets the development of 5,000 such homes over the next five years, prioritizing affordability for tenants earning around 80% of the region’s median income.