– Cedar, a real estate software development company, has secured $3 million in seed funding to create a product that helps developers find urban infill properties for housing development.
– The company believes that urban development complexities are causing a shortage of housing in urban centers, leading to affordability challenges.
– Cedar’s platform uses generative algorithms and a mix of public and proprietary data to predict development yields and convert land-development regulations into real development scenarios.
– The funding round was led by Caffeinated Capital, with participation from Tishman Speyer Ventures and individual investors.
– The opportunity for developers lies in focusing on areas that were previously built for single-family development but have the potential for densification to create more livable and walkable neighborhoods.
Real estate software development company Cedar announced this week that it has secured $3 million in seed funding to create a product that would help developers locate urban infill properties for potential development into housing.
The company said it believes urban development complexities are pushing the construction of new housing further out of urban centers, contributing to an imbalance between supply and demand and, by extension, affordability challenges.
“Not only is the U.S. not building enough housing to support our population growth, we’re not building homes in the right places — urban centers where current and future generations want to live and work, and be closer to their friends, family and cultural amenities,” said Cedar co-founder Kyle Vansice.
Caffeinated Capital led the funding round, while Tishman Speyer Ventures also participated alongside individual investors Maria Davidson (CEO of Kojo), David Rubenstein via Shorewind Capital and Alumni Ventures.
Cedar says its platform’s functionality includes using “generative algorithms and a mix of public and proprietary data to quickly generate a broad array of building designs, accurately predicting the development yield on any parcel in a city, and converting complex land-development regulations into real development scenarios that maximize a property’s financial potential.”
The opportunity for developers is to focus on places “that were previously built for largely single-family development, but offer the potential to dramatically densify to create more livable and walkable neighborhoods,” the company said.
Property Chomp’s Take:
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So, there’s this real estate software development company called Cedar. They recently announced that they’ve secured a whopping $3 million in seed funding. Why, you ask? Well, they want to create a product that helps developers find urban infill properties for potential housing development. Cool, right?
The company believes that the complexities of urban development are causing new housing to be built further away from city centers. This is creating an imbalance between supply and demand, and as a result, affordability has become a challenge. Cedar’s mission is to address this issue by finding ways to build more homes in urban centers, where people want to live, work, and be close to their loved ones and cultural amenities.
The funding round was led by Caffeinated Capital, with participation from Tishman Speyer Ventures and individual investors like Maria Davidson (CEO of Kojo), David Rubenstein via Shorewind Capital, and Alumni Ventures.
Now, let’s talk about Cedar’s platform. It’s pretty impressive. They use generative algorithms and a mix of public and proprietary data to quickly generate a wide range of building designs. Not only that, but they can accurately predict the development yield of any parcel in a city. This means they can help developers understand the financial potential of a property based on complex land-development regulations.
But here’s where it gets really interesting. Cedar believes that developers should focus on areas that were previously developed for single-family homes. These areas have the potential to be transformed into more livable and walkable neighborhoods through densification. So, they’re all about finding those hidden gems and turning them into thriving communities.
All in all, Cedar’s goal is to revolutionize urban development and make housing more accessible and affordable. With their innovative platform and the support of their investors, they’re on the right track to make a positive impact in the real estate industry.
So, keep an eye on Cedar and their exciting journey. Who knows, they might just be the key to unlocking the potential of urban infill properties and creating vibrant, sustainable communities for all.