Elliott Wilson

Member since May 15, 2026

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Elliott Wilson1 week ago Stack Modular can provide a solution to affordable housing in Bermuda for indicative 59.9% of the cost mentioned in the Housing Strategy, the costings are explained below. This is over a $167million saving on the proposed solution. 275 square foot modules work for all dwelling sizes in The Bermuda Plan 2018 except 2 beds which require 2 x 300 square feet modules to meet the 600 square foot requirement, if this rule is strictly adhered to then the total cost for Stack Modular’s solution would be indicative $258,213,000, a saving of over $160million or representing 61.7% the cost of the proposed solution.Stack modular also have the capability of completing these builds in indicative 2 years, not 10 years. I predict further savings will occur in the future due to inflation, possible political instability, possible tariff issues, resulting in potential price rises and supply disruption of the proposed solution which requires many facets of the build to be completed on island.How I calculate this using information provided in the Housing Strategy;Indicative costings;974 units are needed by 2035. 50% 1 person, 30% 2 person, 20% 3+ person487 are one person studio flats292 x are 2 person dwellings (584 modules required)195 are 3 person + dwellings (585 modules required)Total modules required without stairs and lifts 1,656extra 8% of this amount for stairwells and lifts (lifts may not be needed on all sites but these are priced in) 132TOTAL modules needed to complete buildings 1,788Total square footage 491,700$210 x 491,700 =$103,257,000.00 (paid to Stack Modular)Shipping $45 x 491,700 =$22,126,500.00 (paid to shipping company, Stack Modular earns zero from shipping, bespoke ship sent direct to Bermuda so no effect of tariffs)on island general contractor work (GC) $103,257,000 + $22,126,500 =$125,383,500.00 (Stack Modular earn zero from on island work but provide support throughout)TOTAL $103,257,000 + $22,126,500 + $125,383,500 =$250,767,000.00 for 974 signed off Certificate of Occupancy unitscurrent stated cost for 974 units in the Housing Strategy $418,500,000Stack Modular cost to produce 974 units $250,767,000.00 ($258,213,000 if 2 beds need 2 x 300 square foot modules)difference in two amounts $167,733,000.00 ($160,287,000 if 2 beds need 2 x 300 square foot modules)Other thoughtsWe have a 60 year guarantee which is longer than most traditional build guarantees. What happens after this 60 year guarantee ends, the same as any traditional build, the building lives on indefinitely if it is maintained. We have completed projects in 14 different countries ranging from higher humidity island jurisdictions than Bermuda with the same category 5 hurricane risk, seismic, saline considerations, to arctic circle projects, that include winning MBI Hotel of the Year. We can build 40 stories high. We are currently working on building 2 hotels on ocean going ships!These costings factor in a buffer. We have completed hard costings for a luxury development on island which shows online GC costs are significantly lower than the above numbers used.We are not just a solution for affordable housing, we are a solution for housing at every level in Bermuda. See attached PDFElliott Wilson ACSI EFA DipPFS CertIoDinfo@pinkbermuda.com

Elliott Wilson3 weeks ago The numbers regarding Stack Modular are incorrect in the Housing Strategy document. Stack Modular (our company) has completed a full indicative costing on island for a highest level luxury development. For a Certificate of Occupation for a high luxury finish this is $507 per square foot (psf). That price includes the steel structure for the balcony and Bermuda roof. To understand that cost, the finished module (finished meaning with plumbing, lighting, AC, heating, flooring, wiring i.e. all fittings) costs $320psf, then the balcony and roof $60psf, the rest is on island GC work and shipping. The Ministry of Housing is only looking for affordable housing so that $320psf cost is reduced to $210psf for our entry level finished module. So working back from that costing, we could deliver hundreds of units at Marginal Wharf or similarly already concreted areas (where no foundation is needed as 2 storey modules can sit on top of concrete subject to structural engineer sign off) for indicative close to $300psf including shipping for Certificate of Occupation, and, where foundations are needed for indicative under $400 (the MoH is responsible for delivering on island GC and the foundations with our guidance on how to prepare it). Bermuda roof and balcony structure would be extra but they would be extra regarding whatever build technique is used, and, the Stack Modular Bermuda roof and balcony structure solution is likely much cheaper as it is being sourced in China. As discussed after advanced discussions in December 2025, we would have had all modules on island by end of 2026, with occupants likely to be in these residences in early 2027. This beats the pre cast projection of 18 months from August 2026. We are importing Chinese prices into Bermuda from our own factories so it is unrealistic to state other build options come close to competing on price. It is as close as possible to get to building at the cheapest cost in the world that meets the required build standards, buying it at leaving factory price, picking it up and placing it in Bermuda immune from Bermuda market forces.We also source everything needed for modules in China so chances of delays are minimal, and costs are incredibly controlled compared with on island build options.Stack Modular have an excellent track record having delivered projects to 14 different countries. In light of the pricing, and delivery times, and other considerations, would you consider at a minimum using Stack Modular for the Dr Cann 2 site? If it goes well (which we are confident it will) then you have a cheaper and quicker option to use henceforth.Stack Modular won MBI Hotel of the Year, we offer a 60 year guarantee. We are experienced working in challenging climatic conditionsYou’ve stated you need $114.75 million for phase 1 to produce 310 units. Stack Modular can produce 310 275 square foot units (the minimum sized one person dwelling allowed in Bermuda) modules for indicative cost of $17,902,500. Calculated by multiplying 310 by 275 per square foot multiplied by $210 per square foot. Add shipping costs and GC work as described earlier in reply. It is not just the BHC affordable housing solution that Stack Modular can have a profound effect on. In my email sent to multiple persons including the Minister on 3rd March 2026 I explained how these Chinese prices can be passed onto Bermudians and houses (with Certificate of Occupancy) could be purchased for indicative $80,000, or $140,000 (if foundations needed) or approximately $300,000 for family homes. It could be worked that this ends up costing the government nothing, all future liability is that of the buyer and mortgage provider, and, solves all housing issues/ownership issues for normal working Bermudians. And could even be achieved within a few years if suggestions followed (we can build 3,500 modules per year).