Madelon Groupa housing company that streamlines the process of developing modern, urban living spaces, in partnership with a private investment company Investment in the blue room, today announced an affordable housing partnership and its latest housing project located in the vibrant arts district of Santa Fe in Denver, Colorado. As part of their long-term initiative to address the housing crisis in the United States, this company is the first ground-floor housing project that has used the Madelon Group REDtech platform, an innovative real estate development platform designed to facilitate a seamless start-to-finish approach to prefab and modular multi-family development.
“By bringing automation and standardization to the development process with REDtech and through our partnership with investment firms like Blue Room, we are taking crucial steps forward in our efforts to bring more quality living spaces in major metropolitan areas and other high-barrier entry markets across the United States,” said Alfonso Medina, co-founder and managing director of Madelon Group. “With REDtech, we sought to create a development platform that was both widely accessible and applicable in a variety of situations, and this project is proof of that.”
When complete, the five-story, 40,000-square-foot building will feature 64 pre-engineered micro-studios. Produced by Pueblo, Colorado indieDwellwhich produces modular solutions for social housing projects, Madelon Group’s micro-studios feature a more compact but highly optimized floor plan compared to traditional studios, which in turn reduces the monthly rent for tenants.
Designed by Madelon’s team of architects and interior designers, the micro-studios are both functional and tasteful. Each micro studio has a private bathroom, wet bar, storage and closet space, a double bed, and a sitting area with a sofa, large table, additional storage, and space to display guests’ belongings. residents and take ownership of the space. The furniture is moveable, allowing each tenant to arrange according to their individual needs – a distinction that sets this project apart from traditional designs of pre-engineered housing options that typically overlook this consideration. Additionally, large windows bring in abundant natural light and a mix of textures, including wood and various fabrics, create a warm, inviting and comfortable environment.
The final structure will also include a range of indoor and outdoor communal amenity spaces for residents, as well as retail space on the ground floor of the building, providing an opportunity for economic and cultural stimulation to the neighborhood.
“This partnership with Madelon Group has provided Blue Room with a disruptive solution to our country’s persistent housing deficit, which lays the foundation for rent increases for years to come,” said Minyoung Sohn, founder and director of Blue Room. “We believe that volumetric production of standard prefabricated modules should benefit from economies of scale. We will share these savings through below-market rents, converting a significant portion of our financial benefits into a social return that improves the quality of life for our residents. »
Over the past few decades, the United States has faced a widespread housing crisis as the market struggles to meet the demand for new homes at affordable prices, which has only intensified, with the effects of the COVID-19 pandemic on the supply chain and prices. Denver, in particular, is in the midst of an incredibly competitive housing market, with record inventory and rising prices. Production will begin late this year and bring 64 units below market rate to Denver.
“The traditional process of building affordable housing uses government subsidies to offset construction costs and increase profits in exchange for lower rents for a period of time,” added Sharon Schneider, Chair of the Blue Room Housing Initiative. “REDtech and our partnership with Madelon Group has opened the door for Blue Room to reduce development time and cost without government subsidy, allowing us to charge lower rents that are much more affordable than market rates. With social impact capital investment and the REDtech platform, we look forward to transitioning from a project to a statewide hotel brand for high quality affordable housing.
A neighborhood best known for its arts, food scene and cultural experiences. Madelon Group and Blue Room were drawn to the Santa Fe Arts District for the flagship location for this project because of its potential to evolve into one of the city’s creative hotspots and young, vibrant population. who frequent the region. This space is intended to serve both these people and those in life transition, by providing an accessible yet transformative and culturally rich life experience. In the years to come, Madelon Group and Blue Room will continue to partner in the development of new sites throughout Colorado.
This first venture is expected to be completed in the summer of 2023. For more information on the project, visit https://madelongroup.com/ and https://www.blueroominvesting.com/home.
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