MIAMI and AUSTIN, Texas, Oct. 26, 2021 /PRNewswire/ -- Lennar, one of the nation's leading homebuilders, and ICON, a construction technologies company pioneering large-scale 3D printing, today announced a commitment to build the largest community of 3D-printed homes to date using ICON's innovative robotics, software and advanced materials. Breaking ground in 2022, the 100-home community will be codesigned by the acclaimed architecture firm, BIG-Bjarke Ingels Group.
The announcement deepens a relationship that began with Lennar's investment in Austin-based ICON's recent $207-million financing round and offers a promising path toward delivering affordable, technology-driven homes that meet rising demand.
"Labor and material shortages are two of the biggest factors pushing the dream of home ownership out of reach for many American families," said Eric Feder, President of LENX. "Lennar has always expanded the boundaries of technological innovation to keep quality homes affordable and 3D printing is an immensely encouraging approach. We are excited to collaborate with ICON to develop solutions to emerging challenges in the coming years."
ICON's 3D printing technology produces resilient, energy-efficient homes faster than conventional construction methods with less waste and more design freedom – keeping construction projects on schedule and on budget. Designed and engineered from the ground up for volume 3D printing of homes with precision and speed, ICON's Vulcan construction system can deliver homes and structures up to 3,000 square feet that are built to the International Building Code (IBC) structural code standard and expected to last as long or longer than standard Concrete Masonry Unit (CMU) built homes. ICON's proprietary wall system and advanced materials are stronger and longer-lasting than traditional building materials and provide safer, more resilient homes that are designed to withstand extreme weather, greatly reduce the impact of natural disasters, and be printed at high speeds and at scale.
"ICON exists as a response to the global housing crisis and to put our technology in service to the world," said ICON co-founder and CEO Jason Ballard. "Construction-scale 3D printing not only delivers higher-quality homes faster and more affordably, but fleets of printers can change the way that entire communities are built for the better. The United States faces a deficit of approximately 5 million new homes, so there is a profound need to swiftly increase supply without compromising quality, beauty, or sustainability and that is exactly the strength of our technology. It is an honor and a huge milestone for ICON to partner with Lennar, an elite top-tier homebuilder with a commitment to innovation. We believe this will be a watershed moment in the history of community-scale development and the future breaking into the present."
"Additive manufacturing has the potential to revolutionize the built environment as it gets adopted by the industry at scale," said Martin Voelkle, Partner, BIG-Bjarke Ingels Group. "By partnering with ICON and Lennar, we are able to see this new technology roll out to the widest possible audience. The 3D-printed architecture and the photovoltaic roofs are innovations that are significant steps towards reducing waste in the construction process, as well as towards making our homes more resilient, sustainable, and energy self-sufficient."
Lennar's investment in ICON's Series B financing round in August was facilitated by LENX, which drives a focused strategy within Lennar to integrate technology solutions across the homebuilding industry. With a clearly defined strategy of investing in technology companies directly adjacent to Lennar's core homebuilding operations and a disciplined investment process, LENX provides hands-on mentorship and guidance from senior leaders of Lennar's management team and a marquee opportunity to provide products and technology to Lennar customers, allowing portfolio companies to scale at an unprecedented pace.
About Lennar Corporation
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.
About ICON
ICON develops advanced construction technologies that advance humanity. Using proprietary 3D printing robotics, software and advanced materials, ICON is shifting the paradigm of homebuilding on Earth and beyond. For more information visit www.iconbuild.com or follow the conversation on Instagram, Twitter, Facebook, YouTube (@ICON3DTech).
About BIG-Bjarke Ingels Group
BIG-Bjarke Ingels Group is a Copenhagen, New York, London and Barcelona based group of architects, designers, urbanists, landscape professionals, interior and product designers, researchers and inventors. The office is currently involved in a large number of projects throughout Europe, North America, Asia and the Middle East. BIG's architecture emerges out of a careful analysis of how contemporary life constantly evolves and changes. By hitting the fertile overlap between pragmatic and utopia, we architects once again find the freedom to change the surface of our planet, to better fit contemporary life forms.
Contact: Danielle Tocco
Vice President Communications
Lennar Corporation
Danielle.Tocco@Lennar.com
Direct Line: 949.789.1633
SOURCE Lennar Corporation
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