Sabot Development Ltd., teamed with Hayes Modular Group Inc. to build what is considered the first multi-story, steel, modular apartment complex in Texas. The 175-unit asset, dubbed Cheatham Flats, is being built at 401 Guadalupe St. in San Marcos, TX, for a cost of $22 million.

Cheatham Flats will serve Texas State University, an institution that has seen 19 consecutive years of enrollment growth. Jim Young of Sabot Development said the use of steel modular units could cut construction costs by 20%, and could complete an apartment complex in less than a year. “The method of construction we’re using is going to be extremely impactful on affordable housing and workforce housing in Central Texas. We’re going to make sure of it,” Young told the Austin Business Journal.