RICHMOND, CA — After 14+ months of development, Cloud Apartments, a product company that builds a signature line of prefabricated apartments to drive down the cost of housing and drive up the quality for its renters, has announced its official launch by:
- Unveiling its website that outlines their next generation apartments
- Inviting real estate developers to submit land sites for feasibility studies
Curtis Wong, Founder and CEO of Cloud Apartments, said: “The fundamental reason for high rents that make housing unaffordable is a lack of supply of new housing that cannot keep up with demand. The reason for the lack of supply is because the cost to build new housing is too high to make it economically worth investment by real estate developers.”
He continued, “At Cloud Apartments we focus on significantly driving down the cost to build housing by changing the way housing is built. Cloud Apartments are built in a factory and are designed to snap together on the construction site through a patented system. We even have an in-house construction crew that does the final fit-out for the apartments from connecting plumbing lines to electrical to drywall. The end result is housing that is 30% more cost effective to build and the solution to making housing truly affordable.”
According to Harvard University’s State of the Nation’s Housing 2020 Report, 37.1 million households were “housing cost burdened,” spending 30% or more of their income on rent.
According to a Pew Research Center survey conducted in October 2021, prospective homebuyers and renters across the United States have seen prices surge and supply plummet during the coronavirus pandemic. Amid these circumstances, about half of Americans (49%) say the availability of affordable housing in their local community is a major problem, up 10 percentage points from early 2018.
As part of its launch, Cloud Apartments is welcoming real estate developers to submit sites for a feasibility study using Cloud’s system. Curtis Wong said, “based on our productized approach to housing, we can put together a detailed feasibility study and demonstrate immediate cost savings.” He continued, “the development process for new housing doesn’t have to take years to bring housing to market, with our approach I see housing being built in a greatly streamlined process based on pre-designed, pre-permitted and pre-fabricated building blocks. A future where beautiful new homes are available to rent at affordable prices, all made possible by our productized approach to construction.”
About Cloud Apartments
Cloud Apartments is an unconventional housing development company creating a new brand of modular apartments for the modern renter. The company is revolutionizing modular housing with a patented snap installment technology that allows units to be built off site with everything embedded — wires, pipes, ducts, and smart technology — and shipped to the site 95% complete. No assembly required. This unique plug-and-play approach to construction provides dramatic cost and time savings for developers and renters alike.
About Curtis Wong, Founder and CEO of Cloud Apartments
Curtis Wong is the CEO and Founder of Cloud Apartments after leading modular housing developments at Starcity, a San Francisco-based housing company that raised over $50M before being acquired.
Curtis graduated from Stanford University with a Master’s in Structural Engineering in 2013, where he engineered numerous buildings in San Francisco and Los Angeles. Afterwards, he worked on launch pads for 2.5 years at SpaceX on ground support infrastructure for the Falcon 9 vehicles. Curtis returned to school for his MBA and graduated from Harvard Business School in 2019. During his studies, he decided to return to the construction industry and focus specifically on prefabricated housing as a solution to the country’s housing shortage. After graduating and working at Starcity, on what would have been the West Coast’s tallest modular tower, he decided to found Cloud Apartments.
Curtis grew up in the San Francisco Bay Area, and today enjoys spending his free time rock climbing and boxing.
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