oWow Debuts Solution to the Housing Crisis

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May 16, 2018, 11:07 ET

OAKLAND, Calif., May 16, 2018 /PRNewswire/ -- New home building company, oWow, www.owow.com, will debut their solution to the nation's housing crisis with the introduction of MacroUnits in West Oakland this summer. This MacroUnit building will allow tenants to live at up to 50% below the current market rents.

The oWow Team from left to right: Jeremy Harris, Architectural Director, Kaylin Neisinger, Property Management Director, Alon Gutman, Co-Founder and CTO, and Danny Haber, Co-Founder and CEO

"Everyday people in cities cannot afford to live in their own communities and MacroUnits provide a solution for locals to stay local," says oWow's Co-Founder and CEO, Danny Haber. https://www.bizjournals.com/sanfrancisco/news/2018/01/25/oakland-developer-aims-to-bring-down-housing-costs.html

oWow's MacroUnits are intelligently designed units, 800 to 1,000 square feet that provide a combined full living/dining room, kitchen space, 2 bathrooms, and 4 bedrooms. The current housing market consists of primarily 1 bedroom options with rents at all time highs. In opposition, their MacroUnit design provides high-density, highly efficient layouts to bring rents down without sacrificing livability. Groups of 3-4 people or families can share the cost and save up to 50% on rent.

"Not many home builders are providing 3-4 bedroom apartments and no one is building for families," says oWow's Architectural Director, Jeremy Harris.

Future development is already in the works (one future project- www.2715adeline.org) as well as the MacroUnit 2.0, which will feature "MagicWalls" that allow renters to adapt their living space to their specific needs. These units will be designed in factories to ensure lower construction costs and faster production timelines, allowing oWow to meet the housing demand while providing even greater affordability in half the time. oWow plans to begin production of the MacroUnit 2.0 in 2020.

	Average Price Per Person	Average Square Footage	Rooms
oWow MacroUnits 1.0	$900	850	4
oWow MacroUnits 2.0	$750	850	4
MicroUnits	$1,600	350	1
1 Bedroom	$3,000	600	1
Co-Living	$1,800	100	1

oWow's vision is to enable groups of individuals and families to live affordably. The rising cost of housing is pushing the working lower and middle class out of city centers everywhere. oWow's current and future projects will enable over 1,350 residents to live affordably. oWow will introduce their first MacroUnit project in West Oakland this summer and plans to bring the MacroUnit typology to major cities across the U.S. in the near future.

Media Contact: Kaylin Neisinger, (415) 735-1678, [email protected]

SOURCE oWow