The Dickinson Press in Dickinson, North Dakota, reports two brothers have combined Custom Touch Homes manufactured housing and Rosebud Manufacturing interior wood furnishings under one roof into Dakota Custom Cabinets and Homes LLC. Tim Kern manages Custom Touch and says the “stick-built offsite” homes are comparable to site-built in terms …
Business Wire reports that Morgan Stanley is partnering with National Equity Fund (NEF) to establish a program to develop affordable housing and jobs in a 13-state area hit hard by recent storms and flooding. By using Low Income Housing Tax Credits (LIHTC), the $100 million program can finance new construction …
From Alabama, the Tuscaloosa News says one of the newest housing developments is a gated, affordable manufactured housing community in a hilly area of the county. Country Ridge offers refurbished homes from the low $20,000s to the high $40,000s, with quaint street lights, underground utilities, security cameras and large lots …
Daily Commercial News says Intelligent Living Corporation (ILVC) (OTCBB: ILVC) of Vancouver, British Columbia, Canada, is working with First Nations communities in Western Canada to help meet their needs for 20,000 modular housing units. In addition, a recent government analysis determined that 50 percent of tribal housing needs major repairs. …
Canadian Firm Building Modular Units for First Nations People Read More
Yahoo! Finance reports Nobility Homes financials for the second quarter 2011 show a drop of revenue of nearly $480,000 from the second quarter 2010 to $3,229,214. The loss of $143,047 for Q2 2011 is less than the $236,928 lost in the second quarter of 2010. Nobility says it has a …
The New York Times notes that while the term prefab or modular has long conjured images of cheap and flimsy, today’s builders are learning that modular construction uses the same materials as traditional building, and can save 20 percent in costs as well as months of construction. In Philadelphia, an …
Modular Construction Preferred in Pennsylvania and New York Read More
The Williston Herald in Williston, North Dakota, reports the Williams County Commission has approved a manufactured housing complex that will accommodate 2,500 people for a Capital Oil Field Services project. Located near Tioga in the northwest part of the state, the Capital Riggers Lodge will eventually consist of 74 buildings …
LinkedIn states Oxbridge Ventures, Inc., a private investment company of Vancouver, Canada, will offer $100 million for manufactured housing investment in the U.S. and Canada over the next five years, proffering $30 million in equity and debt during the next 24 months. The funding is intended to augment available financing. …
Canadian Firm to Invest in U.S. Manufactured Housing Read More
The Manufactured Housing Institute (MHI) weekly newsletter reports the Tennessee Valley Authority (TVA) is increasing the rebate amounts for ENERGY STAR manufactured homes to $1,950 per home for customers in their seven state service area. Under the program, home manufacturing plants will receive $1,450 for each ENERGY STAR home sold …
Zacks reports that Equity LifeStyle Properties (NYSE:ELS) and UMH (AMEX:UMH) rank first and second, respectively, in return on equity (ROE) among residential real estate investment trusts (REITs). Investors are attracted to firms with high ROEs because it is generally considered to be a sign of efficiency. Equity’s ROE is 18.4 …
Benzinga says about an hour after the stock market opened June 7, the Dow Jones Industrial Average was up .32 percent, and one of the forces driving the uptick was manufactured housing, Cavco Industries, Inc. (NASDAQ:CVCO) in particular. Cavco had gained 2.4 percent by 10:05 A.M. The company’s trailing-twelve-month revenue …
Mortgage News Daily says the federal government is extending the feedback deadline on the five percent risk retention provision of the Dodd-Frank Wall Street Reform and Consumer protection Act (Dodd-Frank) to allow for more public comment. The new deadline is Aug. 1, 2011. Meanwhile, Fannie Mae is requiring mortgage servicers …
Risk Retention Comment Deadline Moved; Fannie and Freddie Changes Read More
The Indianapolis Business Journal reports that Lippert Components, Inc., a steel fabricating company of Marvin, North Carolina, has asked for tax credits from the city of Elkhart, IN to move into a facility vacated by Monaco Coach Corporation. This manufacturer of chassis, chassis parts and galvanized roofing for the manufactured …
PrNewswire says Nobility Homes, Inc., announced financials for its first quarter ending Feb. 5, 2011. Sales for the first quarter were $3,232,689 with a loss from operations of $170,996. 2010 Q1 sales were $3,292,874 resulting in a loss from operations of $411,593. The first quarter per share loss was .03 …
Nobility Counting on Florida Boomers Buying Manufactured Homes Read More
Benzinga says Keefe, Bruyette, and Woods report Sam Zell’s Equity LifeStyle Properties (NYSE:ELS) sold 6.1 million shares of stock at $59.50 per share grossing $359 million to help fund its acquisition of a chunk of Hometown America LLC. As we reported here June 1, ELS acquired 31,167 home sites from …
Bloomberg reports that a division of Deutsche Bank of Frankfort, Germany, sued dozens of former shareholders and brokers of Chicago’s Tribune Company, alleging Sam Zell’s leveraged buyout (LBO) and subsequent bankrupting of Tribune was fraudulent, and just a way for the shareholders to line their pockets with $8.5 billion. In …
RTTNews says land lease community owner (LLC) Killam Properties, Inc. (TSX:KMP), of Halifax, Nova Scotia, Canada has closed its public offering of $46 million of 5.45 percent convertible subordinated debentures due June 30, 2018. Canada NewsWire’s Digital Journal says a syndicate of underwriters led by RBC Capital Markets backed the …
Business Wire reports that T.J.T., Inc. announces the appointment of Shawn CJ Kling as president and chief executive officer (CEO) of the company, replacing Joseph B. Light who is retiring. The company supplies recycled axles, tires and other transportation supplies, and provides aftermarket products to the MH industry. Serving a …
Executive Change in Manufactured Housing Transportation Firm Read More
Bloomberg News reports that JPMorgan Chase & Co. (JPM)’s Jamie Damon says losses have peaked in the United States mortgage industry. The chairman and chief executive officer (CEO) of the financial services and banking industry giant, says home prices may slip further, but the worst is behind us. JPM is …
Chairman of Major Bank Says Mortgage Industry Bottom Hit Read More
PRLog reports that Epoch Homes, a modular builder from Pembroke, New Hampshire, is collaborating with two UMassachusetts colleges to build a net zero energy modular home. The Massachusetts College of Art and Design Department of Architecture, and the University of Massachusetts Lowell College of Engineering will work with Epoch to …
Modular Builder Partners with Schools for Green Home Competition Read More
