Lafayette Square makes maiden investment (alongside Facebook) in housing disruptor

Lafayette Square makes maiden investment (alongside Facebook) in housing disruptor

Lafayette Square makes maiden investment (alongside Facebook) in housing disruptor

By at ""san mateo" affordable housing" - Google News
To date, Factory_OS has built nearly 1,000 units—including supportive, affordable, student and market-rate housing developments—in the Bay Area, currently the most expensive housing market in the U.S. Besides driving down production costs by 20% to 40%, Factory_OS can erect a 100-unit apartment building in less than 10 days, delivering housing over 40% faster than conventional construction can. The company expects to cut costs by 50% over the next year as its partnership with engineering software maker Autodesk enables it to further integrate its design, technology and construction processes. That cost savings doubles the amount of housing that Factory_OS can create with the same investment.
Working with the established production ecosystem to drive efficiency, quality and equity across the board is core to Factory_OS’s approach. “By retooling multifamily housing production from beginning to end, we’re supporting everyone involved with construction—architects, engineers, general contractors, union workers—to do what they do faster and more efficiently,” said Rick Holliday, CEO of Factory_OS. “We aim to have an impact on housing costs that goes beyond construction, so we’re also engaging with policy and finance players to create a comprehensive framework that everyone can benefit from.”
article date: 2020 11 23
posted: 2020-11-23 10:00:12
Tags: real estate,Bay Area

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