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As the Lock Down Wears On – Legions of People are Needing Affordable Housing. Google Giant and Co-Modeco, LLC, a visionary start up, Embraces Eco Friendly Modular Construction.

Google Will Buy Modular Homes to Address Housing Crunch

Silicon Valley giant aims to buy 300 apartment units amid stiff Bay Area market

By Laura Kusisto

Updated June 14, 2017 4:02 pm ET

VALLEJO, Calif.—Soaring home prices and apartment rents in Silicon Valley have become a growing headache for technology titans. Google owner Alphabet Inc. is taking a step toward addressing the issue.

The Mountain View, Calif., company is finalizing an order to buy 300 apartment units from Factory OS, a modular-home startup, in a building likely to serve as short-term housing for Google employees, according to executives from both companies.

The expected value of the deal is $25 million to $30 million, according to Rick Holliday, founder and chief executive of Factory OS. It would be the first order for the company.

Modular-building technology, essentially factory-built homes that are pieced together onsite, could help reduce the cost of construction in the Bay Area by 20% to 50%, experts said.

Read Full at WSJ

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