Shipping Container Construction Gains Significant Ground with Mixed Use Builders Across Globe
DETROIT, MI -- A forward-thinking real estate development company, Three Squared, Inc. has made exceptional progress with its cargo container residential and commercial construction initiatives due to escalating marketplace acceptance and demand driven by superior cost efficiencies, heightened profitability, and minimized build time. The company, whose pioneering shipping container building solution offers systemized and sustainable construction resulting in affordable luxury, announced an array of significant company projects and other milestones, as follows.
• Slated to build over $109 million in projects over the next 24 months across the U.S. and at locations abroad.
• Rosa Parks condo complex—the company’s flagship project representing the first multi-family dwelling constructed from retired shipping containers in the United States—is now “shovel ready” with an approved $603K tax credit; project approved for buyer’s with $25K down payment assistance available. This 20-unit, four-story condominium complex spans 26,000 square feet and integrates 93 shipping containers. The energy efficient systems include ductless heating and air system, tank-less water heaters, and other amenities that combine to reduce each unit’s energy costs by up to 80%;
• Scheduled to break ground on Model Center November 2012 with completion slated for December 2012; will be ready to accept purchase agreements to company’s Rosa Parks and Michigan Ave. projects;
• $4.5 million Lake Tahoe recreational cabin project, which includes construction of 65 recreational cabins on 67 acres of prime Lake Tahoe property;
• Launched patented Cargolinc™ Systems–a first-of-its-kind proprietary 3 step process that provides architects, builders/developers, and private owners with a comprehensive three-step process that surpasses green and sustainable construction and quality standards at a fraction of the cost and time, allowing for higher quality luxury finishes within budget.
• Multiple patent filings in process.
“We are the perfect solution to construction for all types of projects,” notes Leslie Horn, CEO of Three Squared. “With the U.S. new construction industry desperate for ways to cut costs without undermining quality, green home construction gaining significant momentum, and a growth rate from $49 billion to $140 billion (representing 20% of new construction) forecasted over the next five years, shipping container-based construction is an extraordinarily well-positioned solution. This is especially true for America’s multi-family, mixed use, and commercial markets that are completely underserved even as demand for this segment rises. For these reasons and more, our cargo container-based building options are being extremely well received in both the domestic and international marketplace as our recent array of milestones exemplify. We love Detroit and are thrilled to be building there and help lead turning both the city’s and our nation’s economy around.”
“Our company marries the trend toward sustainable green housing solutions with the problems of escalating building costs and a surplus of unlikely yet durable, versatile, widely available, economical and code-friendly shipping containers, which we use as the primary material for construction framing of houses, condominiums, dormitories and other residential, retail, and commercial structures,” Horn continues. “In fact, our cargo container-based construction costs an average of half of other building methods. The structures take a fraction of the time to build and are more energy efficient than their counterparts because of a high-purposed combination of new technologies our team is creating and blending together. What’s more, our buildings provide an elegant balance of simplicity with inherent character and personalized style in each wall. Design is only limited by imagination, not expense. In addition, residents and tenants alike know that their walls have traveled the world and have a story to tell. They’ve seen the ocean and other countries and have stood the test of time.”
Given the range of benefits and advantages, architects, contractors, and individuals are increasingly using containers to build homes, offices, apartments, schools, dormitories, artists’ studios, emergency shelters and shops across the world. They are commonly used to provide temporary secure spaces on construction sites and add earthquake resistance to any structure. Europe, China, and New Zealand have successfully pioneered building sustainable living in great numbers utilizing shipping containers. As one example, Travelodge, a global leader in budget hotel lodging, celebrated the 4th anniversary of their completed hotel in Uxbridge, U.K. The project used shipping containers and came in 10% under alternative building estimates, saving them £500,000, or approximately $900,000 in American currency on the construction.
Why Cargo Container-Based Construction?
Retired shipping containers are abundant in the United States. It is estimated that a staggering 21,000 shipping containers arrive in the United States every day. Port authorities estimate that over 700,000 used shipping containers are stockpiled on prime waterfront real estate without a significant use, purpose, or method for disposal. Many cargo containers originate from China and are used only on their maiden voyage overseas because it is actually cheaper for China to build a new shipping container than it is to ship the container back to China for reuse. Since the U.S. imports many more manufactured goods than it exports in shipping containers, most remain here, wasting precious space in our ports and landfill. Consequently, the U.S. has a surplus of “empties” which is made available for alternative uses, such as building.
The Shipping Container Construction Solution:
Three Squared uses retired shipping containers as its primary framing material for new construction. Made of steel and wood, this product is stronger than conventional framing, stackable for creating levels, and readily available. The excess containers on the market significantly reduce the comparative cost. With a price tag as low as $900 each, used shipping containers offer a relatively inexpensive construction medium. Even when purchased new, shipping containers rarely cost more than $6,000. Cargo containers may, in fact, be considered the ideal building material as they are strong, resistant to the elements, durable and versatile. Construction is accomplished by simply positioning them. The containers’ modular design makes additional construction as easy as stacking more containers up to 12 high. The interlocking mechanism of the containers facilitates mobility so that structures made from them can be easily disassembled, moved, and reassembled.
About Three Squared, Inc.
Three Squared, Inc. is a property development market leader in the cargo-based construction industry. This real estate development firm uniquely and effectively employs shipping containers to build safe, cost-efficient and environmentally-friendly homes, schools, offices, and warehouse space across the globe. The company’s Cargolinc™ Systems ground-breaking proprietary 3 step process offers a more profitable and efficient design and engineering system for construction projects. Rebuilding America through modular living, Three Squared is demonstrating new luxury construction can be executed faster, more affordably, and with greater energy efficiency. Learn more online at threesquaredinc.com.