Bosa Properties Launches XPRIZE Competition to Find Paradigm-Shifting Construction Technologies for Affordable Housing

VANCOUVER, Aug. 31, 2016 /CNW/ - Today, Bosa Properties is proud to announce its partnership with the internationally recognized XPRIZE competition. The award-winning Vancouver based developer is once again showing leadership by funding the search for ideas to address the complex socio-economic issues surrounding affordable housing. Bosa Properties is implementing this initiative by sponsoring an Affordable Housing Visioneers Team - one of nine teams chosen by XPRIZE to address some of the world's most pressing issues.

As a leader in one of the most robust real estate markets in the world — building concrete, wood frame, residential and commercial properties across the Lower Mainland and beyond - Bosa wants to keep pushing the boundaries of innovation in the industry.

"We are not satisfied with the pace of innovation in the real estate industry and we see this as an opportunity to push technological innovation," says Colin Bosa, CEO Bosa Properties. "By leading this Affordable Housing challenge, we believe we can help shape the future of our industry by inspiring bold and audacious solutions to help solve this worldwide crisis."

Simply put, the XPRIZE initiative seeks to solve this problem – how to construct high-density housing for one third of the conventional cost, in one-fifth the time. Once solved, the hope is that that municipal governments and housing authorities will embrace these new found methodologies and technologies to rapidly and cost-effectively create new housing supply.

"We are partnering with XPRIZE in order to harness the power and braintrust of the global-crowd in order to push technological innovation, just as it has been done in most other industries, such as in automotive and aerospace," adds Colin Bosa. "Bosa Properties has always been committed to advancing technology in its development projects, building intelligent homes and introducing thoughtful concepts that make homes more livable."

Consider the company's BOSAspace™ program that resulted in the construction of a global first – the first tower ever built where each and every home was fully transformable, providing considerably more versatility within a home's available space. Other recent home innovations include BOSAvolt™ electric car-charging stations, and BOSAfresh™ - a temperature controlled facility that allows homeowners to receive grocery deliveries, even while they are away from home.

Shifting to the issue of affordability, Bosa Properties hopes to initiate meaningful change through the concepts developed during the XPRIZE process. The company is set to present their Affordable Housing challenge at this September's Visioneers Summit, where they hope to have their concept selected to become the world's next XPRIZE.

Led by Yaron Schwarcz, Bosa Properties' Affordable Housing Visioneers Team will be focused on ensuring that everyone has direct access to acceptable and affordable housing, with the goal of creating new construction technologies – ultimately decreasing both the time and cost it takes to make affordable housing available.

For more information, visit www.xprize.org/visioneers

About BOSA Properties: 
Bosa Properties is one of Canada's leading developers with over five decades of experience building highly livable communities in sought-after postal codes. The award-winning company boasts an extensive portfolio of residential, commercial, industrial and mixed-use urban properties. Bosa Properties' uncompromising commitment to quality construction and innovative design has cemented its reputation as one of the British Columbia's top builders. For more information, visit www.bosaproperties.com.

About XPRIZE:
XPRIZE is a non-profit global leader in designing and implementing innovative competition models to solve the world's biggest challenges.  XPRIZE combines gamification, crowd-sourcing, incentive prize theory, and exponential technologies as a way to create an impact in the grand challenges that face our world in the 21st century. For more information, visit www.xprize.org.

SOURCE Bosa Properties

Rachel Thexton, Thexton PR, Email: [email protected], 604-729-1448