Intelligent Living Corporation announced that it has signed a Letter of Intent (“LOI”) with Smallworks Studios/Laneway Housing, Inc. yesterday to increase home production with a target of $20 million in annual sales. Based in Vancouver, British Columbia, Canada, Smallworks is an industry leader in constructing innovative, low impact, “green built”, energy efficient carriage, loft and bungalow Laneway homes.
The agreement intends to incorporate Intelligent’s leading automation and technology solutions and green building practices into Smallworks building strategies. In the words of Jake Fry, President of Smallworks, “ILVC’s technical and in-house engineering and project management capabilities dovetail to our design, manufacturing and installation know how. Our combined expertise and capability will allow us to increase sales and gain leverage through higher utilization of our fabrication facilities.”
Intelligent Living Corporation, a member of the Canadian Green Building Council, specializes in incorporating the latest technologies in home automation and integrated audio/video/entertainment. This not only includes standards in home-building, but also what many people consider “futuristic,” is what Intelligent provides to customers every day. These technologies encompass some things that are becoming more regular in our society such as accessing your security system or lights from remote locations, but also technologies that allow you to coordinate household appliances, electronics and lighting with the opening of your garage door or the sprinkler system turning itself off if it is a rainy day. Even your alarm system sending you a message that your child has arrived home safe and sound is possible through Intelligent’s technologies.
As the economy continues to rebound, the Vancouver region has seen an increase in new housing starts. Statistics Canada recently released data from August of this year which showed $540 million in residential building permits being issued for the month. A 44% year-over-year growth rate has been forecast by Canada Mortgage and Housing for housing starts in 2010 with an additional 15% forecast for next year. The governments in several cities in the greater Vancouver area have also made changes in municipal bylaws which are creating even greater opportunities of Laneway housing on developed properties, which is the industry space where Smallworks excels.
Michael Holloran, CEO of Intelligent Living Corp., commented, “The demand within the Greater Vancouver region for designing, engineering, fabricating and installing new and re-developed residential housing units has created a unique opportunity for the combined resources of our companies.” Mr. Holloran continued, “We have worked with Smallworks over the past two years and have always been impressed with their innovation and focus on sustainable building practices, attention to building envelope integrity, energy efficiency and high quality fit and finish. Our shared approach and ability to deliver a cost effective superior product with high owner satisfaction combined with investment in production facilities has led this joint venture.”
More information on Intelligent Living Corporation, its technologies and the investment opportunity presented by ILVC can be found on the Company’s website at www.intelligent-living.us.
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