Entekra Wins 2020 Ivory Prize for Housing Affordability
MODESTO, Calif., April 16, 2020 /PRNewswire/ -- Entekra, the California off-site construction startup, was named a winner of the 2020 Ivory Prize for Housing Affordability during a livestream presentation today by the award's sponsor, Ivory Innovations.
The Ivory Prize recognizes businesses, foundations, non-profits, community leaders, and others that are working to lower the cost of housing, spotlighting awardees in three categories: construction and design, finance, and public policy and regulatory reform.
Entekra was one of three finalists in the Construction and Design category.
With its Fully Integrated Off-Site Solution® - FIOSS® - the company leverages advanced technologies and automation to address construction productivity. Specifically, FIOSS boosts framing productivity for most single-family homes by more than 500 percent in terms of man-days, while typically reducing overall build time by more than 30 days. Even greater productivity gains can be achieved with the construction of multi-family dwellings.
"To improve the affordability of housing, home builders have to increase their productivity, which has steadily declined in the United States for more than a quarter century," says Gerard McCaughey, Entekra's CEO.
"As Entekra was founded to change the way houses are built by improving construction productivity, the entire Entekra team is honored to receive this award," adds McCaughey.
The three winners of the 2020 Ivory Prize were determined by Ivory Innovations' Advisory Board, which include some of the country's top minds in housing and was chaired by Kent Colton, Senior Research Fellow of the Harvard Joint Center for Housing Studies and president of Colton Housing Group.
"Entekra was chosen as the winner of the Ivory Prize for Housing Affordability in the area of Construction and Design because of its ability to reduce the time it takes to build housing, and therefore the cost. With its innovative off-site solution, Entekra can improve both quality control and the time and cost to build a home," notes Colton.
Unique to the U.S. market, FIOSS optimizes the construction process by completely integrating concept, design and engineering with off-site manufacturing and on-site assembly. For a typical 2,500-square-foot house, the key structural elements can be manufactured under factory-controlled conditions in less than four hours, and the complete frame can be assembled in only three to four days. To frame the same house using the traditional construction methods of stick-framing would normally require at least 15 working days.
Since its founding in late 2016, Entekra has made significant inroads deploying FIOSS as the company is already working or in discussions with a majority of the premier home builders in California, including Beazer Homes, D.R. Horton, KB Home, Van Daele Homes and Wathen Castanos Homes.
For more information about Entekra and its off-site solution, visit entekra.com.
For more information about the Ivory Prize, including the 2020 winners for finance and public policy and regulatory reform, visit ivory-innovations.org.
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SOURCE Entekra
