A connex (45' long container trailer) looks to cost around $1000-$3000 on eBay, and I think I've heard that's a typical price for one. I'd budget another $3000 to make it livable - installing drywall walls, electrical outlets, plumbing a toilet and mini-kitchenette, and a door and window.
"Shipping container architecture gets a lot of encouraging coverage in the design world as a trendy green alternative to traditional building materials, and seems like a smart choice for people looking for eco-consciousness. However, there are a lot of downsides to building with cargo containers. For instance, the coatings used to make the containers durable for ocean transport also happen to contain a number of harmful chemicals, such as chromate, phosphorous, and lead-based paints. Moreover, wood floors that line the majority of shipping container buildings are infused with hazardous chemical pesticides like arsenic and chromium to keep pests away."
Our plan is up to code, and of course we'll make sure that everything will pass inspection. Mayor Bloomberg is also pushing for green projects like this, so the wait time for a permit is much less.
Building a 3 container cabin I believe wound up costing the guy $25,000
I've been thinking of making a tin-can-cabin, some sort of summer-vacation spot but I can't imagine trying to make a all-year-livable space in new york with containers. May as well buy an old building and pay to clean out all the asbestos.
http://weburbanist.com/2008/05/26/cargo-container-homes-and-...
That said I agree that this looks like its a very idealistic project that lacks an actual plan besides "cool ideas + money = awesome."