Author Topic: Shipping container apartments units begin landing Downtown  (Read 727 times)

thelakelander

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Shipping container apartments units begin landing Downtown
« on: September 23, 2020, 08:05:36 AM »
Quote
The first of three livable shipping containers arrived Downtown on Sept. 18 at JWB Real Estate Capital’s Ashley Street Container Lofts project.

JWB President Alex Sifakis said Sept. 21 that project contractor ShayCore Enterprises Inc.  delivered containers to the site with a partial build-out complete.

“There will be three ‘drops’ total,” Sifakis said in an email.

Full article: https://www.jaxdailyrecord.com/article/shipping-container-apartments-units-begin-landing-downtown
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vicupstate

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Re: Shipping container apartments units begin landing Downtown
« Reply #1 on: September 23, 2020, 10:33:07 AM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction. 
"The problem with quotes on the internet is you can never be certain they're authentic." - Abraham Lincoln

acme54321

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Re: Shipping container apartments units begin landing Downtown
« Reply #2 on: September 23, 2020, 12:16:00 PM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction.

Yeah but then you can't live in a shipping container...

thelakelander

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Re: Shipping container apartments units begin landing Downtown
« Reply #3 on: September 23, 2020, 12:42:30 PM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction. 

Doubt they'll be building more shipping container units here. It is cheaper to build frame from the ground up.
"A man who views the world the same at 50 as he did at 20 has wasted 30 years of his life.” - Muhammad Ali

marcuscnelson

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Re: Shipping container apartments units begin landing Downtown
« Reply #4 on: September 23, 2020, 02:07:46 PM »
Disappointing to learn the economics don't work, but at least we gave it a shot. Infill is infill.
So, to the young people fighting in this movement for change, here is my charge: march in the streets, protest, run for school committee or city council or the state legislature. And win. - Ed Markey

bill

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Re: Shipping container apartments units begin landing Downtown
« Reply #5 on: September 23, 2020, 09:24:33 PM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction.

Yeah but then you can't live in a shipping container...
LOL

Captain Zissou

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Re: Shipping container apartments units begin landing Downtown
« Reply #6 on: September 24, 2020, 08:52:02 AM »
For the longest time all JWB was focused on was turning cheap houses into turnkey investment properties.  That seems to have worked quite well for them, so now they are branching out into other products.  I think this was a proof of concept type thing for them, much like the historic renovations they have planned downtown, the arlington shopping center and shipping container retail there, and a number of other things they have going right now.  Whatever works out best will get more capital allocated toward it, but downtown still benefits from this project that likely won't be a direction that they continue to explore.   

MusicMan

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Re: Shipping container apartments units begin landing Downtown
« Reply #7 on: September 24, 2020, 10:03:47 AM »
I agree it's hard to sort out the numbers.... 18 units at $1.7 million is $95,000 per unit. 320 sq feet at $95,000 is indeed over $280 per sq foot. 320 sq feet is the size of a display at Ikea. Hard to figure out why it's so expensive when the initial premise is based on getting the containers fairly cheaply.

Alex Sifakis

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Re: Shipping container apartments units begin landing Downtown
« Reply #8 on: September 24, 2020, 10:18:22 AM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction.

We were expecting them to be a lot more economical too!   :o

Was definitely an experiment... some experiments work out, some don't.  While this project doesn't make financial sense anymore, we said we were going to build it, so it's getting built.  I do think now that we have worked out the kinks, there are still potential applications with using shipping containers for affordable/permanent supportive housing. If you were not stacking them, and not putting in higher end finishes, like we did on these, I think it would be possible to get down to the 45-50K/unit range.

MusicMan

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Re: Shipping container apartments units begin landing Downtown
« Reply #9 on: September 24, 2020, 10:24:34 AM »
Well good luck on this and all your other projects!!

marcuscnelson

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Re: Shipping container apartments units begin landing Downtown
« Reply #10 on: September 24, 2020, 12:15:35 PM »
Oh, wow, you're actually here. That's cool. You're doing great, keep it up!
So, to the young people fighting in this movement for change, here is my charge: march in the streets, protest, run for school committee or city council or the state legislature. And win. - Ed Markey

CityLife

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Re: Shipping container apartments units begin landing Downtown
« Reply #11 on: September 24, 2020, 12:18:43 PM »
At $280 per SF, couldn't you just build something from the ground up?  I was expecting these to be more economical than normal construction.
Was definitely an experiment... some experiments work out, some don't.  While this project doesn't make financial sense anymore, we said we were going to build it, so it's getting built. 

I believe that is called Mojo. Hats off to you for sticking to your guns.

Alex Sifakis

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Re: Shipping container apartments units begin landing Downtown
« Reply #12 on: September 24, 2020, 02:00:17 PM »
Oh, wow, you're actually here. That's cool. You're doing great, keep it up!

I lurk!  Lake has been an informal advisor to us for years, love the work he does.