Success Stories
Celebrating Local Business Success
Cormor to Build 3D-Printed Homes in the Region Leveraging Partnership With Two Community Futures Organizations
Client
Cormor
Owners
Dwight Corcoran, Dwayne Corcoran, and Neil Morton
Supported by
Community Futures Peterborough, Kawartha Lakes CFDC
Cormor is a newly established general contractor and construction technology distributor with a team of leaders experienced across North America. They are introducing one of the first large-scale 3D concrete printers to the Canadian market, focusing on environmentally friendly solutions for residential, commercial, and industrial construction through modular and on-site methods.
The Problem
Communities across Canada, including our own, are facing an affordable housing crisis. Rising construction costs are preventing many low- and middle-class residents from owning homes. Co-owners Neil, Dwight, and Dwayne secured cutting-edge technology to help provide a solution. However, as a startup business, accessing lending from traditional institutions proved challenging.
The Solution
Cormor sourced 3D print technology to produce more durable, sustainable, and quicker-to-build homes. Their approach brings back “100-year-old home quality,” providing families with safe, stable housing for generations. To fund their vision, the owners turned to Community Futures Peterborough (CFP) to explore financing options. Loan Manager, Braden Clark, then reached out to the Kawartha Lakes Community Futures Development Corporation (KLCFDC) to partner with CFP, securing additional dollars to move the project forward.
“The financial support and flexibility from Community Futures is absolutely integral in allowing us to get this venture off the ground, and we can’t thank CFP and KLCFDC enough. Equally important, we are grateful to the staff and board for recognizing the tremendous potential this 3D technology will have in addressing the affordable housing crisis we’re in. For startups like ours, early adopters are essential and the CFDC program has been just that for us. Having them both as a sounding board and getting their vote of confidence means the world to us and this new technology.”
– Dwight Corcoran, CEO and Co-Founder of Cormor
Implementation & Results
With secured funds, Dwight, Dwayne, and Neil purchased the 3D printer and began developing sustainable, affordable housing projects.
“There is a local, national, and global housing crisis right now, and this innovative new form of construction and design has the potential to be a viable solution,” says Dwight. “3D printing allows us to build better-quality homes faster and at reduced costs, getting more people into homes quicker. The demand and need for housing are only being amplified by the shortage of skilled workers in the trades. We are excited to bring the new technology, which also creates skilled jobs with far less physical demands, to such a critical industry as construction.”
Conclusion
The partnership between CFP and KLCFDC enabled Cormor to purchase the equipment needed to start their business and begin producing 3D-printed homes. Collaborations like this empower startups in our community to launch innovative solutions that address pressing local and national challenges.
Do you have a dream to start your own business or need support to take it to the next level?
Community Futures Peterborough can help.
Get in touch with us at 705-745-5434 to learn more about our programs and funding opportunities.
