Katerra Acquires Timber Construction Pioneer Michael Green Architecture

by | Jun 4, 2018 | News

Tall timber construction, hyped as one of the next big things in architecture and construction, has slowly gained traction as a small number of multistory projects have started to showcase the possibilities of a more sustainable type of building. A new business deal between a construction startup and a pioneer in tall timber design may help speed up more widespread adoption of this technology.

Earlier this year, Katerra, a Silicon Valley startup focused on the construction industry, received $865 million in funding from the SoftBank Vision Fund, a billion-dollar venture capital firm that has invested in leading startups such as Uber. Katerra has used some of its sizable bankroll to acquire Michael Green Architecture Inc. (MGA), a Vancouver-based firm and one of the pioneers of tall timber construction.

Katerra, which bills itself as a tech firm, has pitched itself as a disruptor in the staid construction industry, suggesting that its innovative technology, and focus on vertically integrating the building process, will allow it to build better, faster, and cheaper than conventional firms.

The acquisition of MGA, the eponymous firm whose founder is considered one of the leaders in tall timber design and architecture, suggests they see wooden buildings as a big part of the solution.

Currently valued at $3 billion, Katerra has built a sizable construction firm since launching in 2015. The Menlo Park, California-based company employs 1,500 people, has booked more than $1.3 billion in new projects, and has constructed an operational facility in Phoenix to manufacture its own material. The company’s goal is to be a one-stop shop, offering design, manufacturing, and construction services.

From Curbed.com: https://www.curbed.com/2018/5/30/17409466/construction-startup-tall-timber-katerra-michael-green

Oregon CLT Project Awarded $6 Million To Construct Affordable Housing

by | Nov 15, 2017 | News

The Framework: Home Forward project and the Framework team recently announced that it has been awarded $6 million to develop 60 units of affordable housing in what will be the first high-rise structure in the U.S. made from wood and the first earthquake-resilient building of its kind in America.

The funding award came through the Portland Housing Bureau’s Fast Starts program — a city initiative designed to get shovel-ready affordable housing units built as quickly as possible to react to our city’s housing crisis.

“By investing in Framework, our city will now be home to the first skyscraper made from wood in the United States,” Portland Mayor Ted Wheeler said in a statement released Tuesday. “This project not only reflects Oregon’s leadership in the newly emerging wood products industry of Cross Laminated Timber (CLT), it also demonstrates our city’s commitment to finding innovative ways to quickly deliver affordable units during our housing crisis.”

“Framework was selected as a Fast Starts project after a rigorous process under the city’s new effort to mobilize resources quickly to alleviate the housing crisis,” said Portland Housing Bureau Director Kurt Creager. “Because so many partners have also contributed to make this important project a reality, we have a great opportunity to begin using this innovative technology in Portland to create more resilient, sustainable, and affordable housing.”

Framework, which received building permit approval in June 2017, was selected for its project readiness, alignment with the city’s equity goals, ability to leverage city funds, new partnerships and philanthropic incentives, and innovation in sustainable materials and earthquake resilience.

From the Portland Patch: https://patch.com/oregon/portland/portland-awarded-6-million-construct-affordable-housing-unit