Amazon is betting on prefab homes

The tech giant is investing in startup Plant Prefab

National /
Sep.September 25, 2018 03:00 PM

Jeff Bezos and an assembly of a pre-fab home (Credit: Getty Images and iStock)

Amazon putting its money behind pre-fabricated homes.

The tech giant’s Alexa Fund was among the investors in Plant Prefab’s Series A funding round. The company, which manufactures custom single- and multifamily homes, raised $6.7 million, according to a statement.

The move comes as Amazon’s virtual assistant Alexa has expanded. There are now more than 20,000 Alexa-compatible smart home devices from 3,500 different brands, Paul Bernard, director of the Alexa Fund, said in the statement.

Plant Prefab was spun out of LivingHomes, a design and development company, in 2016. The company aims to build housing more sustainably and tackle the demand growth in urban markets. It has installed 26 units in California and Utah, and a multifamily project in Berkeley. Plant Prefab has a 62,000-square-foot facility in Rialto, California.

Last year, Amazon was selling prefabricated houses for between about $3,500 to $36,000 in different sizes and styles. One 244-square-foot cabin with a loft, for example, was going for about $19,000.

In May, Amazon announced a partnership with home builder Lennar. Under the deal, standard features in Lennar homes will include built-in Wi-Fi, smart locks, doorbells, thermostats and lights — all controlled by Alexa


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
What last year’s biggest real estate lawsuits mean for 2021
What last year’s biggest real estate lawsuits mean for 2021
What last year’s biggest real estate lawsuits mean for 2021
Extell's CEO Gary Barnett (Central Park Tower)
Barnett secures $380M mezz financing for Central Park Tower
Barnett secures $380M mezz financing for Central Park Tower
(Photo illustration by The Real Deal)
Hard money, hard decisions: Nonbank lenders face pressure to deal with problem loans
Hard money, hard decisions: Nonbank lenders face pressure to deal with problem loans
Bank OZK CEO George Gleason (Photos via Bank OZK; iStock)
Bank OZK’s Q4 was “strong end to challenging year”
Bank OZK’s Q4 was “strong end to challenging year”
Gov. Andrew Cuomo (Getty, iStock, NY State Budget)
Cuomo proposes tax credits for restaurants, income tax increases
Cuomo proposes tax credits for restaurants, income tax increases
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)
7 Manhattan hotels head to auction block
7 Manhattan hotels head to auction block
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...