CREtech Affordable Housing Briefs October 21, 2022 – Bridge Investment Group, Queensland State & Landis secure investments + more
October 21, 2022
In this week's issue, investments are led by Bridge Investment Group , which closed a $1.7B fund devoted to affordable housing. Down under, Queensland has funneled an extra $1B into its government housing fund, effectively doubling its size to $2B. The fund aims to deliver 13,000 social and affordable homes by 2027. Landis , a homeownership accessibility startup, secured a $40m round from the likes of Jay-Z and Google .
In the news, despite 3D home printing gaining traction, new innovations are emerging for affordable, sustainable housing. Automatic Construction is one ambitious startup behind "inflatable" homes. In a similar vein, the demand for prefabricated apartments continues to grow as a result of supply-chain delays and ballooning costs in the Multi-Family sector. Another startup, Higher Purpose Homes LLC , has dedicated its mission to solving the housing affordability crisis. Its goal is to produce 250 affordable homes per year.
On the heels of the largest event in PropTech history, nearly 2,500 real estate executives attended our flagship conference last week, CREtech New York. If you missed it, session recordings will be available soon on CREtech+. Next up is CREtech London on May 9-10, 2023 and we will be returning to New York in September 2023. Stay updated and register your interest here.
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Bridge Investment Group Raises Record $1.7B For Workforce Housing Fund
Bridge Investment Group closed on a $1.74B fund devoted to workforce housing, with commitments from institutional investors, along with high net worth individuals and family offices, according to PERE, which calls it the largest fund ever raised for that property subtype.
Queensland doubles funds to build an extra 5,600 affordable and social homes, premier announces at summit
An extra $1 billion will be funnelled into a Queensland government housing fund to build thousands more social and affordable homes in the next five years.
Rent-to-Own Startup Landis Raises $40M from Jay-Z, Google
Landis, a startup that aims to make homeownership more accessible to first-time buyers, raised a $40 million Series B round led by Google Ventures as investors continue to pour money into the rent-to-own sector.
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This Startup Builds Houses by Pumping Concrete Into Inflatable Forms
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Even as 3D printing gains more traction as a next-gen homebuilding method, new ideas for sustainable, affordable housing are continuously popping up. There’s “foldable” homes; homes that ship in kits then are assembled like Ikea furniture; prefab homes are made of structural panels; and soon, if one ambitious company can help it, there will be “inflatable” homes, too.
Demand for Prefabricated Apartments Climbs as Costs Balloon for Multifamily Development
Construction of prefabricated homes is ramping up and providing an alternative to traditional multifamily, where the construction process has slowed because of rising costs and supply-chain delays.
Higher Purpose Homes commit to building affordable housing
Higher Purpose Homes is dedicated to solving the affordable housing crisis in the Four Corners. The startup company, launched by Durango residents, is looking for investors to make its vision a reality. And with a staff consisting of a carpenter and two engineers, co-founder Nick Lemmer thinks he has the team to do it.
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Nearly 2,500 Real Estate Executives Attend CREtech’s Flagship Conference, CREtech New York, The Largest Proptech Event Ever Held In The U.S.
CREtech, the largest international community of professionals devoted to technological innovation in the real estate sector, assembled nearly 2,500 real estate executives at their 2022 flagship conference, CREtech New York, on October 12 and 13.
CREtech’s Michael Beckerman: “We’re in the Second Inning” of Proptech Adoption
“The thing that gives me great pride is that we’re expanding the conversation” around proptech, Beckerman says. In addition to hosting a Who’s Who of major owners and developers, “we’re talking about climate, we’re talking about affordable housing, we’re talking about construction.”
CREtech New York Draws Notable Names and Some Cool Tech
The annual two-day event drew investors, innovators and real estate executives looking for ways to get the edge in a rapidly evolving proptech industry, especially in lingering challenges of the pandemic era.
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