“We’re going to deliver a better product at a lower price point more quickly than anyone in the market, without a government subsidy.”
- Ethan Fernhaber, president
LOOKING TO THE FUTURE
The future is bright at Renewing Management! The dream of increasing the number of communities to 40 by the year 2030 is already in motion. The management team is gathering a highly-skilled and experienced team to pivot from a renovation model to a new-construction model. Rather than absorb the high cost and inefficiencies of renovation, the team is moving to construct excellent, energy-efficient apartment communities in secondary markets and transitioning neighborhoods within Indiana.
Volumetric Modular Construction
By purchasing a 250,000 square-foot warehouse on the east side of Indianapolis – creating up to 100 new jobs – Renewing Management plans to produce apartment homes in its own factory. This revolutionary new process is called volumetric modular construction, where each unit goes through the same process in the quality-controlled factory environment. At 40 different stations, trained workers do their specialized jobs – drywalling, plumbing, tiling, electrical – to produce a high-quality apartment home. The home is then transported to the community site and systematically placed by a crane.
The benefits of this type of construction add up as efficient, choice finishes can be utilized at a fraction of the cost of one-by-one renovation. By mass-producing apartment homes, Renewing Management will become a wholesale buyer for all items used in the construction process. Delays and errors that routinely occur on a traditional job site due to weather, personnel or material inefficiencies all but evaporate in the controlled factory environment.
“We’re going to deliver a better product at a lower price point more quickly than anyone in the market, without a government subsidy,” says president, Ethan Fernhaber.
As “Redemptive Entrepreneurs,” the people of Renewing Management recognize that there is more than one bottom line in business. Success comes not just from making money, but from positively impacting lives on a day-to-day basis. In keeping with the desire to impact the community, the factory used to produce apartment homes will also produce tiny homes for Indiana’s homeless population and single-family homes to put equity in the pockets of employees and citizens.