KBS Builders Inc. has signed two contracts totaling $4.6 million to manufacture 40 modules for the construction of cottages and affordable housing units in Maine.
One contract is a $3 million project to manufacture 32 modules for the construction of 15 one- and two-story cottages in Northeast Harbor, Maine. Manufacturing of these modules began in September with delivery to be completed in December, with occupancy expected next spring.
The other contract is a $1.6 million contract to manufacture eight modules for the construction of two multi-story buildings comprising 16 affordable housing units in Newcastle, Maine. Manufacturing of these modules is expected to begin this month with delivery to be completed by December, with occupancy expected next spring.
KBS Builders is headquartered in South Paris, Maine, and is a wholly owned subsidiary of Star Equity Holdings Inc. (NASDAQ: STRR; STRRP). Rick Coleman, CEO of Star Equity Holdings, announced the contracts by noting, “The recent upturn in demand for new construction throughout New England and the Northeast has significantly increased their booked backlog. We are encouraged by the recent interest rate cuts, and we believe demand for new construction projects will increase gradually in the coming months. KBS’ strong modular manufacturing, technical, and delivery capabilities have positioned them well to gain market share in key segments such as affordable, workforce, energy-efficient, and veteran housing, as well as college dormitories and other multifamily buildings.”
Photo courtesy of KBS Builders
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