Core Viewpoint - Star Equity Holdings, Inc. announced two contracts totaling $4.6 million for the manufacture of 40 modules aimed at constructing cottages and affordable housing units in Maine, reflecting a growing demand for new construction in the region [1][2][3]. Company Overview - Star Equity Holdings, Inc. is a diversified holding company with two main divisions: Building Solutions and Investments [4]. - The Building Solutions division includes modular building manufacturing, structural wall panel and wood foundation manufacturing, and glue-laminated timber manufacturing [5]. - The Investments division manages and finances the company's real estate assets and investment positions in both private and public companies [6]. Contract Details - The first contract, valued at $3.0 million, involves the manufacture of 32 modules for 15 cottages in Northeast Harbor, Maine, with manufacturing starting in September and expected delivery by December, aiming for occupancy by Spring 2025 [1]. - The second contract, worth $1.6 million, is for 8 modules for two multi-story buildings comprising 16 affordable housing units in Newcastle, Maine, with manufacturing expected to begin in October and delivery by December, also targeting Spring 2025 for occupancy [2]. Market Outlook - The CEO of Star noted that the contracts highlight KBS Builders' reputation as a leading modular manufacturer in Maine, with an increase in demand for new construction in New England and the Northeast contributing to a growing backlog of orders [3]. - The company is optimistic about the impact of recent interest rate cuts on the demand for new construction projects, anticipating gradual growth in the coming months [3].
KBS Builders Wins Two Maine Projects Totaling $4.6 Million