When it comes to ever-present blue skies and powerful tax incentives, Florida seems to have the winning combination for the legions of families moving to the State. But unfortunately, the Sunshine State is not sunshine for all.
According to a recent report, Florida gained 319,000 people through migration in 2022. Unfortunately, the building pace isnt keeping up with the number of people deciding to call Florida home. Housing starts declined 4.5% in January 2023, and given the months it takes from start to finish, there will be a lag in the number of homes available for some time.
At the same time the shortage is escalating, housing rental prices have skyrocketed. While the state government is attempting to address affordable housing issues for the lowest wage earners, simply making the rent has become even more important for those hard-working families who pay their way and are facing increasing financial pressure just to afford a place to live. It has been referred to by RB Advisors as a living nightmare as renters with good jobs struggle to afford rising prices.
While the situation continues to spiral, one small company has been taking big steps that could have a massive impact on the market. Cuentas, Inc (NASDAQ:CUEN) a company that has been in the business of creating novel fin tech solutions for the underbanked and underserved, has moved into construction tech, launching Cuentas Casa, partnering to bring an innovative new technology to the US that is changing the way apartment complexes are designed and built and may change the future of housing.
Using High Tech Construction and Robot Supply Lines Help To Create Entire Sustainable, Affordable Communities
Cuentas (NASDAQ:CUEN) is bringing financial and lifestyle solutions to the underbanked and underserved, and has attacked the Florida Housing Crisis head on, with the Companys recently launched division, Cuentas Casa.
Cuentas is looking to solve the rental housing crisis from the ground up, and that solution means utilizing new technologies to create entirely new types of rental communities, in the process reducing construction time and cost, and passing those savings on to the renter. The company also believes that affordable rental properties are critical to the development of the entire housing ecosystem, and that these properties should offer their tenants supportive lifestyle alternatives at a fair and affordable price.
The Cuentas Casa solution starts with innovative technology. To this end, Cuentas has partnered with RENCO, whose patented sustainable building technology has been proven in some of the most challenging regions in the world. RENCOs sustainable building blocks are created in a robotic factory then assembled on site to create sustainable, interlocking, fiber reinforced, composite building blocks that can be connected in a variety of designs by semi-skilled labor on site. Cuentas inked a 10-year supply deal with RENCO and has brought in sophisticated development partners to bring its dream of affordable, sustainable communities to life.
Cuentas Casa is an alternative to traditional government supported solutions, focusing on providing real value and meaningful community to the hard-working, rapidly growing segment of the population who are being left out of the American Dream. To bring its Cuentas Casa focus to life, management has partnered with respected developers to acquire and develop select properties across some of the hardest hit areas in Florida.
And Cuentas has put its money where its mouth is, moving quickly to co-develop and deploy its Cuentas Casa developments. In addition to its pilot project, now nearing completion in Lakewood Village Florida, just north of Palm Beach, Cuentas is targeting properties for development across Florida, including the Companys recently announced sustainable community development initiatives in Tampa (360 units) and Ocala (400 units). The introduction of these new initiatives is expected to further expand the companys impact, aiming to reach approximately 1,500 apartments in total before the end of the year, with more to come in 2024.
Cuentas commitment to providing sustainable and affordable communities demonstrates the companys dedication to addressing the pressing needs of what the company refers to as the underserved individuals and families who have been left out of the traditional market.
In addition to the construction tech secured by Cuentas, these properties come with all the necessary permits and entitlements, providing a competitive advantage for rapid development, cost reduction, and expedited time to market.
Cuentas goal with Cuentas Casa, is to make housing more beautiful, more sustainable, and more cost efficient. Through its process, not only has time to market been dramatically reduced, but savings in core construction has been estimated to be reduced by as much as 30%.
Cuentas wants to pass this savings on to the renter, giving Florida renters truly affordable, sustainable, communities where they can prosper and contribute. And then, in true Cuentas style, from Florida to the world.
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