Scalable multi-family housing development.
A fixed price and a known schedule cut the risk your lenders and partners carry, and the same building performs the same way in every market, so each project underwrites like the last.
Who this covers
Which of theseis your problem?
At our scale the only thing for sale is aging stock, and renovating it eats the return we're holding for.
How Vessel Calypso answers
Vessel Calypso fits the smaller, irregular infill parcels you can actually buy, so you can build new at a fixed price.
Every project gets a new development team, so cost and quality drift across the portfolio.
How Vessel Calypso answers
The same building arrives in every market with the same specification and the same price logic, so each project underwrites like the last.
Our capital partner sets the risk tolerance, and bespoke development is hard for them to underwrite with confidence.
How Vessel Calypso answers
Vessel fixes the price of the vertical build and puts it up in about six months, so your partner underwrites a defined scope at a known cost.
More margin, for as long as you hold.
Steel instead of wood, panels instead of paint, electric instead of gas. The savings come from the building itself, so they repeat in every market and last the whole hold.
About 50% lower operating cost per home, per year.1
1 Illustrative only, not a forecast or guarantee. Based on Vessel's operating benchmarks against institutional comparables; actual costs vary by property, market and operator.
The building,and the homes inside it.
A fixed-price building that fits the infill parcels you can buy, and performs the same way in every market.
Explore Vessel Calypso
Case study · New London, Connecticut
A downtown lot thatdefeated developers for decades.
On a 60 by 130 foot lot in a flood zone, with a ten-foot drop from front to back, Vessel Calypso fit thirty homes and leased every one in under a month, over Thanksgiving and Christmas.
- Homes
- 30
- Owner
- An Opportunity Zone fund
- Status
- Delivered and fully leased
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Drop in an address and see what Vessel Calypso can do on your site.
