Press Release: Davidson’s Landing Wins SIPA Excellence in Building Award

Featured

Our Davidson’s Landing workforce housing development in Kansas City was awarded FIRST PLACE in the Multi-family Category of the Excellence in Building Awards at last night’s kick-off of the annual Structural Insulated Panel Association (SIPA) Meeting and Expo in Scottsdale, Arizona.

Davidson’s Landing is the first of a new breed of energy-efficient apartments serving the hard-to-reach middle-income workforce housing market. Because we utilized SIPs, we were able to successfully monetize the energy benefits to make the numbers work for this project.

Many thanks to my development partners (Robert Hughes and Jason Young) and my design partners (John Urban, Michael Lash, Philip Agee, Chris Mathis, Erik Henson, and Chris Bloom) for their help in making this project a success.

A link to the SIPA award site is found here

Press Release: Davidson’s Landing Apartment Homes

Featured

Introducing Davidson’s Landing Apartment Homes – our newest workforce housing development located in Kansas City.

After three years of challenges – the COVID pandemic, supply chain disruptions, record inflation, interest rate hikes, capital market dislocations, investor skittishness, etc – we have successfully completed the construction and lease up (ahead of schedule and under budget) of this 115-unit workforce housing development.

Many thanks to my development partners (Robert Hughes and Jason Young ) and my design partners (John UrbanMichael LashPhilip AgeeChris MathisChris Bloom and Erik Henson) for their help in making this project a success.

And many thanks to our financing partners as well (Tracy HowrenWilliam TeschkeMichael LearSusan CalderonAlissa IceHeather Olson, CCIM and John Sabatier), without whom this project would not have been possible.

Breakthrough: Using Structural Insulated Panels in Workforce Housing

So today was a really big day for my workforce housing design team.

About 8 years ago we began experimenting with structural insulated wall panels in workforce housing.

We began with an easy design – a one-story duplex building – and tallied up the costs/benefits of building with panels over traditional stick-built framing. What we learned was this: By spending a little more on the panels (about $4,000/unit) we were able to attract $11,000/unit of capital waiting on the sidelines to invest in ENERGY EFFICIENT workforce housing.

So we began tinkering with a more complex design – a three-story walk-up garden apartment building. Our team came up with a design that ended up attracting over $19,000/unit of capital for the first of these projects: Davidson’s Landing in Kansas City.

Today we set our first panels at Davidson’s Landing. Our construction guys make it look easy, but trust me – A LOT of coordination and hard work went into planning this.

Cheers to my workforce housing design team. You rock!!!

Link to photo album found here.

Davidson’s Landing Apartment Homes

Tartan Residential closed on a $25.8 million workforce housing development deal on July 22, 2021 – the first of a new class of apartment investments. We started working on this transaction five years ago. We survived COVID. We survived the loss of a key investor last summer. And we survived a $900,000 lumber price spike earlier this year. Yet we still got the deal done.

From the investment banker who worked with us over the past three years to close this transaction: 

“Congratulations Jeff… you are the true definition of tenacity and persistence in my book Sir! What a journey… now go have fun building it!”

I am thrilled to get this deal closed. And I am humbled to have a loyal team of seasoned professionals to work with every day.