Vessel designs, manufactures, and distributes revolutionary multifamily apartment buildings engineered to lower construction & operating costs, and reduce construction and lifecycle risk, while delivering sustainable, healthy, energy efficient, technology enhanced homes. Vessel's first product available in the market is called Calypso.

Calypso is Vessel's midrise multifamily building system. Calypso utilizes a panelized, factory-manufactured system that ships flat and is assembled on site. It includes, among other things, the structural system (made from steel), interior and exterior walls, cabinetry, full interior fit-out, elevators, stairwells, sprinklers, and lighting and building-control systems — delivered as a complete, ready-to-occupy building.

Homes include nine-foot ceilings, floor-to ceiling windows, a full kitchen, a private dressing room, an oversized rain shower, and is 100% electric and solar-compatible, with smart building technology (Vessel Intelligence) integrated throughout the building and units to optimize the resident experience and building operations.

Calypso serves multifamily housing across the market — market rate, workforce, student, senior and affordable/income-restricted housing. Our customers are owners of land who want to create or operate multifamily housing and want to use Calypso to activate their land.

Calypso offers residents a home they will love and that is representative of 21st century technologies. Residents will experience high (9') ceilings, large windows flooding their home with natural light, a flexible kitchen, luxury finishes, a private dressing room, in-unit washer/dryers, and oversized showers. For the sustainable conscious resident, Calypso is all-electric and engineered for net-zero operations (rooftop-solar-ready). Vessel Intelligence offers modern amenities such as remote control of their multi-zone HVAC system, the ability to stream music to built-in speakers, and custom control of their lighting (including light therapy).

For operators and developers, Calypso offers economics that make their underwriting more secure and the ability to make more sites work. Calypso's design, development, and construction costs together with its lower operating expenses permit developers to activate smaller parcels conventional multifamily cannot economically use (as small as 0.5 acres), so you no longer compete for scarce resources (larger sites). Construction pricing that is fixed per-unit with no change orders and a predictable schedule with buildings completed in as little as six months, keeps budgets and timelines on track and results in a faster construction timeline, lower construction interest and a faster lease-up.

Modular construction refers to how something is built. Calypso is a product that is constructed using panels. It is not a volumetric housing system. A unique aspect of Calypso is its productization which allows Vessel to invest heavily in research and development and engage in extensive prototyping to ensure that Calypso is predictable, exceptional, and of the highest quality.

Calypso is manufactured off-site and shipped as flat, stacked panels then assembled on site. This reduces shipping and logistics costs and allows for standard on-site inspections throughout construction.

Vessel has completed 2 buildings (36 units) in the Northeast, has 4 buildings (278 units) under construction, and a significant pipeline predominantly in the Northeast and Florida (approximately 1,600 units). Its oldest complete building has been operating for more than three years, with strong resident retention and renewal rates. Please contact us for a tour of one of our existing properties.

Vessel's expert team is responsible for the manufacturing and installation of Calypso on your site. This is inclusive of, but not limited to, the structural building system (which is made from steel), interior and exterior walls, cabinetry, full interior fit-out, elevators, stairwells, sprinklers, HVAC, plumbing, electrical, and lighting and building-control systems — the complete vertical build, delivered ready for occupancy.

Calypso is currently available in a 3, 4, or 5 story version and can be constructed at grade or on a podium or structured parking, which would increase the total number of stories (up to 5 stories of residential housing atop the parking structure). Calypso comes in three different depths (90', 82', & 74') and in widths ranging from 56- to 154-feet. Multiple buildings can be sited together on a single property. For additional information, please contact us or access the Vessel Configuration Guide.

Standard unit types include one-bedroom minis (Vessel's version of a studio apartment) (~480 sf), one-bedrooms (~560 sf), Vessel's standard two-bedroom unit (included in every building configuration) (~960 sf), and the ability to combine units to create additional two-bedroom and three-bedroom units (~960 sf – 1120 sf). Calypso's standard configuration has mostly one-bedroom or one-bedroom mini units with a single two-bedroom line starting on the 2nd floor above the MEP room.

Walls are finished in high-pressure laminate — durable, non-combustible, antimicrobial, and hypoallergenic — and ceilings are clad in a non-combustible, fabric-like stretch-ceiling system. Damaged finishes can be replaced individually and inexpensively.

The building envelope exceeds current energy code requirements: triple-glazed, low-E argon filled windows and roughly R-21 continuous insulation. Buildings are 100% electric, solar-compatible, and designed to meet or exceed programs such as Energy Star.

Wall and floor assemblies are engineered to mitigate sound transmission between units and are tested to exceed STC 55 and IIC 55 performance ratings in both directions.

MEP systems run through engineered chase ways that are accessible behind removable panels, so routine maintenance doesn't require opening walls or cause resident inconvenience or unnecessary repair and maintenance costs. HVAC condensing units are roof-mounted and provide both heating and cooling which are multi-zoned, individually controlled, and can be accessed remotely by residents.

You determine a site that you want to develop. Vessel can run an initial feasibility study to confirm unit count and layout and will then send you a preliminary proposal. Once you've accepted the proposal, we will start working with you to commence the Entitlement Phase.

During the Entitlement Phase, you will be responsible for entitling the land and obtaining all planning and zoning approvals (Vessel will provide support), including our attending any necessary pre-approval and approval meetings and the provision of any required materials (presentations on Vessel, renderings of the Vessel building, architectural plans).

Once you've received your entitlements and the final configuration is established, we will be able to provide you with a final price for your Calypso and you will sign a fixed-price contract, whereupon Vessel will promptly file for all necessary building permits pertaining to Calypso and you or your consultants will file for those permits relating to the Horizontal Development scope.

During the next phase, Horizontal Development, your contractors will complete: excavation, demolition (if applicable); grading; the installation of below-grade electrical and plumbing services; installation of stormwater management systems (if required); and the construction of the building's foundation (to Vessel's specifications, which will be provided to you). Once this scope is complete, you'll perform an as-built survey to confirm that everything is where it's intended to be. Once that's complete, we will provide you with a construction schedule and anticipated start date.

During the next Construction Phase, Vessel will take control of the site and execute the vertical construction in conformity with the construction schedule to deliver your Calypso with a Certificate of Occupancy.

Yes, in most circumstances, you will bring your own site. There are limited circumstances in select markets where Vessel may have the ability to help you find a site or where we may have a site that is already entitled and ready for development. Once a site is determined, Vessel can run a quick feasibility and massing study on a site you're considering showing potential unit count and layout.

No. Vessel is responsible for all aspects of the building construction, so you do not need to retain a general contractor. The limit of your work would be to identify and retain the contractors required for the horizontal construction.

No separate design team is required — the building is pre-engineered. Vessel is responsible for identifying the local Architect of Record and provides the MEP-S drawings and supporting engineering calculations. You will need a civil engineer and any other consultants that you deem necessary for the approval of your development and the horizonal construction.

You're responsible for site acquisition, development approvals/entitlement (with Vessel's support), and horizontal construction, include the installation of foundations with utilities stubbed in proximity of the foundation. Vessel takes it from there, erecting and completing the building on-site, inclusive of obtaining a Certificate of Occupancy.

Yes. Completed buildings in the Northeast are open for tours, and additional buildings will be available to tour as construction completes in new markets. Please contact us to set up a tour.

Vessel manufactures panels at its own factory using a just-in-time production model, then ships complete flat-packed panels to the site, which our affiliate will install.

Vessel is responsible for assembling and completing the building on-site. Vessel will be responsible for working with subcontractors, which may include general contractors, construction management firms, and factory-authorized installers.

Standard electricians and plumbers can execute the installation — no specialized modular-construction labor is required, since components are engineered to connect together like a pre-designed kit.

Vessel will provide you with the foundation specifications that must be achieved. You, as the owner/developer, will deliver the foundation with utilities stubbed and Vessel will then execute the vertical construction.

Vessel is the building system designer, manufacturer, and installer, not the long-term owner or operator. Vessel builds Calypsos for operators who own and run the building day-to-day.

Vessel quotes an all-in, blended per-unit price from foundation to Certificate of Occupancy. Vessel's pricing for our standard building layout will generally range from $140,000 to $155,000 per unit. Building layouts are customizable, and non-standard layouts (such as unit combinations) may change the per unit pricing based on the individual building and the efficiency of the layout.

Vessel's fixed price includes (i) materials for your planning and zoning applications, inclusive of the required architectural drawings and renderings, (ii) our participation in pre-application and application related meetings and hearings, (iii) permit level plans and specifications, and (iv) the Vessel building system (installed with a certificate of occupancy). We will also include post-construction training, marketing materials, and other support as more fully described in our proposal and marketing documents. There are no change orders once the contract is signed.

Site acquisition, development approvals/entitlement, and horizontal construction (site work, landscaping, and the foundation) are the owner's responsibility, though Vessel supports the approval process.

Our deposit structure is more fully described in our proposal. There are small fees in connection with (i) our participation in the planning and zoning process, and (ii) our production of permit level plans and specifications. Approximately 50% of the project cost is billed upfront upon signing the fixed price contract to fund the procurement of materials necessary for the fabrication of the building, with the remaining payments tied to production and installation milestones.

Depending on the market, Calypso is typically 10-30% below conventional construction costs and will result in additional cost savings in connection with soft costs such as architectural and engineering fees and construction interest costs. Calypso will also result in lower operating expenses, creating a lower total cost of ownership that improves the achievable NOI for a development. For additional information on development cost savings and expense savings, please refer to the Vessel Underwriting Guide.

Calypso can be conventionally financed, with any lender of your choosing. We are also happy to introduce you to lenders that are familiar with Vessel, including those that have placed permanent Agency financing on Vessel projects.

Square or rectangular sites work best, though irregular sites can often be accommodated with adjusted orientation or multiple smaller buildings. Calypso is well suited to activate smaller infill parcels that conventional multifamily construction can't activate efficiently or cost effectively.

Individual Vessel buildings range in unit configurations between 30 to 100 units. Savings tend to be most pronounced on smaller sites (48 – 72 units), where economies of scale aren't otherwise available through conventional construction. However, in high-cost markets, larger sites may also have material benefits through the use of Calypso. We're always happy to help you assess your site and provide you with a proposal so that you can determine the value and viability of using Calypso.

Entitlement is led by the site owner/developer, with Vessel supporting through the provision of materials and standard architectural documents. Vessel will also provide you with standard permitting documentation and evidence of all applicable code compliance. Approval timelines vary widely by jurisdiction. Consult with your local attorney and consultants for additional information on the timing associated with approvals in your market.

Yes. Calypso is designed to meet or exceed applicable building codes nationally, including IBC provisions such as open-ended corridors, and Vessel pursues state-specific approvals as it enters new markets.

Yes. Exterior materials are tested for coastal and salt-air exposure; steel components are galvanized, and hurricane-rated windows and components are used where required.

Yes. Buildings can sit on a podium, which allows tuck-under or full parking beneath the building and accommodates some grade change on site.

Roughly 6 months once the foundation is complete and utilities are stubbed.

Timeline depends primarily on site entitlement and permitting — typically the biggest variable. Once construction commences, the total time period should be 9 – 11 months, depending on the timeline for horizontal construction. The vertical construction will take approximately 6 months and will commence once foundations have been completed.

Fixed-price, no-change-order contracts and factory-built components reduce the variables that typically cause delays and cost overruns in conventional construction.

Yes. Vessel rotates prospective partners through active construction sites, typically during building windows. Please contact us to set up a tour.

Vessel supports the project through final inspections and delivery of the Certificate of Occupancy, handing over a move-in-ready building. Vessel will also provide training to your maintenance/management team and will provide you with materials as part of our building hand-off inclusive of materials that can be used in your marketing.

Vessel provides a limited 10-year warranty covering parts and services, which is detailed in the standard contract.

Calypso is incredibly easy to repair and maintain, resulting in materially reduced operating costs. MEP systems run through accessible chase ways behind removable panels, so routine maintenance doesn't require opening walls. Interior finish panels are two-sided and can be replaced individually if damaged on both sides.

Damaged finishes can be replaced by ordering individual replacement parts rather than rebuilding an entire wall. In practice, buildings have experienced very little damage.

Buildings include a property-wide camera system and Vessel Intelligence building controls (lighting and building systems), with APIs available to integrate with an operator's existing security systems.

Vessel provides ongoing support to operators for warranty items, replacement parts, and system questions after delivery.

Yes, within the system's standardized building shape. You choose the mix of one-bedroom minis (studios), one-bedrooms, two-bedrooms, and three-bedroom units, along with the building's height, width, and color.

Yes. Any unit can be repurposed into shared amenity space, and multiple adjacent units can be combined to create a larger space, such as a larger fitness room.

Yes, you can customize your site to include any amenities that are desirable in your market.

Yes. The design can accommodate ADA accessibility for 100% of units.

Yes. Modifications such as a wider bathroom turning radius, pull-under sinks, shower seating, and shared common spaces can be incorporated. Fully enclosed, climate-controlled hallways are in development for future availability.