With a contract award from Fannie Mae, the Vertical Harvest team was able to:
- Dedicate full-time resources at Vertical Harvest and their partner, National Affordable Housing Trust, to complete the research work.
- Complete site selection, marketing, financial structuring, and synthesis/compilation of data to determine the feasibility of building a vertical greenhouse in two communities in Chicago.
- Complete a study that provides a model to develop financial pro forma for vertical greenhouse construction as well as tools for engaging potential investors, political figures, and civic stakeholders.
By the end of the contract with Fannie Mae, Vertical Harvest had identified two properties in Chicago. They also began working on another opportunity to scale their model in Westbrook, Maine, which will produce 50 full-time jobs and 50 housing units.