Bank of America chooses technology approach for its Arizona expansion plan

PHOENIX, AZ: Modular Technology, Inc. of Phoenix has received a contract to construct five new branches for Bank of America in the metro Phoenix area and one in Marana. All branches will be completed this year. Bank of America intends to add 50 branches to its nationwide system by year end 2005.

Due to the competitive nature of the banking environment, the first branch up in a new area often dominates the business going forward. Thus, Bank of America determined it needed to speed up the construction timetable.

Jones Lang LaSalle is the Phoenix company that is Bank of America's project manager in the Southwest. Vicky Alsaker recommended Modular Technology to the bank.

According to Alsaker, modular construction was the way to meet the bank’s time schedule for buildings scheduled for the end of 2003.“The first thing,” Alsaker said, “was to convince them that ‘modular’ is not the same as ‘portable’.”

‘Modular’ means the building is constructed in sections, or modules, in a controlled environment and then transported to the construction site where the modules are integrally fastened to the foundation, becoming a permanent part of the site. The building can comprise three or more modules and be several stories high, designed to fit any architectural plan.

“These are not single or double-wide trailers parked on a lot,” Alsaker said. “Those would not fit the bank’s image at all.”

Typically, no one can tell a modular building from site-built construction unless they are actually on site to see the process.

Bank officials toured Modular Technology’s facilities in Phoenix and once they saw the capacity of the plant and the end quality of the product, they committed to the six structures.

The six buildings will have the same interior design while the exteriors will match the environment of their location.

“We can build them to look just as anyone wants,” said Mike Morton, president of Modular Technology.

Modular uses all the same materials as site-built construction -- the bricks, mortar, steel, doors, etc. -- but the construction time is greatly reduced. The only difference is in the methods, not construction standards or quality.

“The time savings was the biggest advantage to the bank,” Alsaker said.

Typical construction usually takes 85 days from receipt of the permit, while modular can be done in 60 days, working a five-day week.

“Since plans are already approved,” Morton said, “we can build them all at once if we want to.”

Modular Technology has been perfecting this process since 1984, and has constructed over 25 banks. In addition to banks, the company builds schools, golf country club and retail shops, medical facilities, and office buildings, among others.

“We can go anywhere,” Morton said, “and match any architectural plan.”

Another advantage is cost savings, because time and temporary utilities are reduced at the site, the inspections are done at the plant, and the permitting period is shorter.

Modular Technology is located at 22425 North 16th Street in Phoenix.