NABR LAUNCHES AS FIRST HOUSING COMPANY TO DELIVER CUSTOM, SUSTAINABLE APARTMENTS AT SCALE WITH ACCESSIBLE PATH TO OWNERSHIP

SAN JOSE, Calif., Dec. 9, 2021 /PRNewswire/ -- Nabr, a new type of consumer-first housing company, today announced its first apartment building, SoFA One, located in the heart of San Jose's vibrant arts and culture district, South of First Area (SoFA). Prospective residents can now join a waitlist for an apartment at SoFA One, which they will be able to customize using Nabr's software platform, including picking between different design and financing packages. Whether buying upfront or building equity while leasing via Nabr's LEAP program, Nabr provides consumers with a path to owning a high-quality, sustainable home. Nabr recently closed a $14M seed funding round led by Zigg Capital, with participation from Robert Wennett and DivcoWest.

The real estate industry is fragmented, inefficient, and lacking transparency. Roni Bahar, Bjarke Ingels, and Nick Chim founded Nabr to combine their experience in real estate, architecture, and technology to pursue a shared vision for an improved way of urban living, defined by quality, sustainability, and attainability. SoFA One is co-designed by world-renowned architecture firm BIG-Bjarke Ingels Group, whose namesake is a co-founder of Nabr.  BIG-Bjarke Ingels Group is also an investor in Nabr.

Nabr treats housing like a true consumer product—its goal is to make buying a custom, net-zero emissions apartment as simple as buying an electric vehicle. Nabr's platform uses technology and productization to increase the production of apartments available for sale in major cities, starting with San Jose. Nabr focuses on digitizing the design process and communication with the supply chain. It sells directly to consumers with buildings that are Nabr-branded; however, the company does not own any real estate or operate its own factories.

"The U.S is currently experiencing the worst housing crisis since World War II. Part of the problem is that there are three times the number of single-family homes built each year than there are apartments, and the vast majority of the latter are rentals. This leaves consumers only two options: pay high rent for a tiny apartment in the city, or buy a home in the suburbs. We started Nabr to change this trajectory," said Roni Bahar, Co-Founder and CEO at Nabr.

Residents can buy or lease to secure their path to ownership with a financial option that fits their life. For those not ready to buy at the onset, Nabr's LEAP program offers residents the ability to lock in the purchase price of their home for an option period of up to five years. Entry into the LEAP program requires a 1% down payment. Residents will benefit from market appreciation during the LEAP period and a portion of their monthly payments will apply as credit toward their home purchase.

"We founded Nabr to build a high-volume, integrated housing production system, developing the product in partnership with strategic supply chain partners from start to finish. We are starting in the Bay Area, where residents face an incredibly expensive real estate market that few can afford to buy," said Nick Chim, Co-Founder and CTO at Nabr. "Our long-term vision is to deliver projects in less than half the time and at price points affordable to middle-income households nationally." 

Nabr is driven by the design vision of world-renowned architect and Nabr Co-Founder Bjarke Ingels, whose work centers around using sustainability to enhance the living experience. Nabr homes are high-design, yet low-impact. Each apartment is carbon neutral in operations, with an all-electric design and energy-efficient facade that leverages the latest technology, including View electrochromic glass.

With Nabr, residents can live in a city while maintaining a connection to nature. Nabr's first project, SoFA One, is built with sustainably-sourced North American timber. Each apartment offers residents abundant access to light and air via its high ceilings and panoramic windows, with the ability to grow plants and cultivate green spaces both indoors and outdoors on large private balconies.

"Our goal is to pioneer a new sustainable urban lifestyle. At SoFA one, residents have access to a Scandinavian-standard of quality of life, yet they are still in the hub of Silicon Valley, America's greatest innovation ecosystem. Residents get the best of both worlds," said Bjarke Ingels., Co-Founder and CCO at Nabr.

Located at 415 South 3rd Street, residents are at the heart of SoFA, downtown San Jose's arts district, with close proximity to global dining and local entertainment. The development is roughly a mile from Diridon Caltrain Station, one block from San Jose State University, and centrally located near all major tech employers, offering residents abundant access to commuting options.

Amenities include a shared rooftop park, electric vehicle charging, bike and personal storage, community garden, and access to wellness and fitness facilities. Ground level retail spaces will be programmed to complement the neighborhood and serve as gathering points for the community.

SoFa One will offer over 125 available homes, which consumers can secure with a 1% payment. SoFA One is slated to break ground in summer 2022, with occupancy expected by summer 2023. For more information, please visit nabr.com.

Media Contacts

Cara Eckholm, Head of Growth
Nabr
[email protected] 
+1 (917) 859 0121

Derris
[email protected] 

SOURCE Nabr