07/01/2024
‘Yes, there is a way.’”
That “way” is ICF, short for insulated concrete form. ICF is a highly evolved building system that uses Lego-like steel-reinforced foam blocks to form cast-in-place concrete walls. It’s a fast assembly process that yields a building envelope of exceptional resilience, energy conservation, and interior quiet.
And one other thing: surprising affordability.
Same Low-Cost Wavelength
“I live in the development world. I have a good grasp of development costs for apartments, hotels, and student housing,” explains Bedford. “With my interests in K.B. Walker, I know the bottom-line costs on ICF. ICF is 100% comparable to wood-frame. If I was solely a developer or a contractor, I might think ICF was too expensive. ICF absolutely pencils out for private market development.
“I’m on the same wavelength as any developer. I require low costs. Does ICF work for every project? No. But it makes a ton of sense for most projects.”
He cites other owner-friendly advantages:
Low Energy Costs. Bedford separately meters units so residents see the super-low utility bills. “Instead of a 30% to 35% rent roll turnover, we’re down to 15%. Residents know it’s a good deal.”
Fewer Noise Complaints. ICF wall systems help silence sound intrusion. Quieter units mean happier, longer-term tenants.
As you weigh your development options, keep ICF in mind. “There are lots of people in the industry who are happy to share their experience and advice,” Bedford suggests. “What’s your showstopper? There’s a high probability ICF can help.”
