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Big Bet to Battle Homeless and Housing Crisis: Modular Homes

October 25th, 2016 Comments off
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New modular housing display. Credit: CBC.

Vancouver mayor Gregor Robertson believes that a shipping container prefabs parked on the south side of the Vancouver Art Gallery holds the key to his city’s homeless and affordable housing crisis.

Inside of the shipping container housing unit is a display model of a single suite that will be in Vancouver’s first-ever temporary modular housing complex.

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Vancouver Mayor Gregor Robertson. Credit: Wikipedia.

We want people in Vancouver to experience what it’s like on the inside and understand the quality and the efficiency and appropriateness of having modular housing to address the particular challenge we have,” said Robertson.

The modular housing complex is due to open in early 2017 at 1500 Main Street, according to the CBC.

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Mukhtar Latif. Credit: LinkedIn.

Temporary modular housing allows us to leverage city owned land and creates innovative partnerships to provide a greater diversity of homes with greater affordability,” said Mukhtar Latif, Vancouver’s Chief Housing Officer. Latif also shared that more temporary modular complexes could be built on vacant lots waiting to be developed.

The display unit is 250 square feet with a small bedroom/sitting area, a closet, private bathroom and a kitchen.

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Inside the shipping container modular suite. Credit: CBC.

The future Main Street complex will have 40 of these units, which will be available to the homeless and those on low or fixed incomes.

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Credit: Horizon North.

Calgary based firm Horizon North, which specializes in modular camp and oil field accommodations, is building the complex. ##

(Image credits are as shown above.)

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RC Williams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News for MHProNews.

 

Northern NIMBY? Controversy, but New Manufactured Home Development Gets OK’d

September 22nd, 2016 Comments off

protestingredevelopmentmayerthorpefreelancer-postedmanufacturedhousingindustrydailybusinessnewsThe opposition has been steady, and at times, with intense emotions on the side of those who wanted to ‘just say no’ to the redevelopment of a city park into a new, affordable, manufactured home development.

To me, Ellis Granley Park was a huge, big space that had a lot of potential to be developed further as a park,” local resident Susan White said. “A lot of people feel strongly about green space.”

But Mayerthorpe, Alberta’s lady mayor had a differing observation.

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It’s a very appealing spot, the elevation there is high, there’s trees planted. It was just an inactive park and why, I don’t know,said Mayerthorpe Mayor Kate Patrick told the Freelancer.

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According to the Freelancer, the process of trying to preserve – or sell the land – has been in progress for over two years. The town considers the area to be under-utilized, and the park was finally sectioned off to begin redevelopment last week.

The cost to the town to develop it is lower than in other parts of the community, due to services being close by.

There has been request to have this type of area in our town. Council is very positive that people will take interest in it and buy this up,” Patrick said. There will probably be businesses coming in there starting next year and we’ll need more housing for this area.” 

Mayor Patrick has said that they new manufactured housing area will not compete with other residential homes for sale.

Clearly, not everyone agreed.

Susan White and LaDonna Harris were among the staunch opponents to the plan.

Parking was an issue, that could have been made easier, accessible,” said Harris. Paths could have been created. There was lots of suggestions through the whole process over the last two years.”

While concerned residents had two public hearings to share concerns, Harris feels like they were not heard.

Although we had opportunity to share our concerns, it seemed like they were going to do it no matter what anybody said,” she stated.

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Mayor Patrick said that she’s heard from a number of people in the public that the town is moving in the right direction, although only two members of the public spoke in favor of the development. 13 named individuals spoke against the development.

I just feel that the town did their best in engaging the public on this controversial issue that some have made it into,” said the mayor. “It was only a very minimal amount that protested it.”

It seems that NIMBY isn’t just in the U.S., it happens up north too. But in this case, as with Scott Robert’s of Roberts Resorts recent example, persistence and the right plan can achieve the goal of opening up more manufactured housing in a community. ##

(Image credits are as shown above.)

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RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News, MHProNews.

Scotiabank ups Killam Properties Price Target to C$13.25

September 20th, 2016 Comments off

killampropertiescredit-postedmanufacturedhousingindustrymanufacturedhomecommunitiesdailybusinessnewsmhpronewsAccording to the Daily Quint, analysts at Scotiabank has increased the price target for Killam Properties Inc. (TSE:KMP.UN) from C$13.00 to C$13.25 in a research note issued on Friday. The firm currently has a “Sector Perform” rating on the stock.

In addition to Scotiabank, other research firms have commented on Killam in recent months:

  • CIBC increased their target price on shares from C$12.25 to C$13.25 in a research report on May 12th.
  • TD Securities increased their target price on shares from C$13.00 to C$14.00 and gave the stock a buy rating on May 12th.
  • RBC Capital increased their target price on shares from C$12.00 to C$13.00 and gave the stock an Outperform rating May 12th.
  • Canaccord Genuity boosted their target price on shares from C$12.00 to C$13.25 and gave the stock a buy” rating in a research report May 11th.

As we’ve previously reported (here and here), Killam Properties has been on an upswing for almost a year.

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Killam announced a distribution in August of $0.05 per unit was paid on September 15th to unit holders of record on August 31st.

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In their Q2 2016 earnings report on August 3rd, Killam reported 9.5% growth in FFO per unit, a $98 million dollar equity raise and $57 million of acquisitions completed. Details from the report can be found here.

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In addition to multifamily apartments, Killam owns 35 manufactured home communities in Atlantic Canada and Ontario. Killam is part of the Daily Business News market report, for today’s closing numbers and full report, click here. ##
(Image credits are as shown above.)

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RC WIlliams, for Daily Business News, MHProNews.

Submitted by RC Williams to the Daily Business News on MHProNews.

Sunday Morning Recap-Manufactured Housing Industry News Aug 7-Aug.14, 2016

August 14th, 2016 Comments off

MHProNews_3 postedDailyBusinessNewsMHProNewsWhat’s New in public focused Manufactured HomeLivingNews.com

Comparing Tiny Houses vs Manufactured Homes – Function and Value vs. Fashion

What’s New in Manufactured Housing Industry Professional News

Children of home owners more likely to own homes. Trump tells NAHB he identifies with them. Residents of closing community continue trying to obtain relocation compensation. Boston testing mini-modular prototype for city lots. Can MH lenders base loan term on age of applicant, legally? Heartland Estates in Fla. sold. Lowry Grove MHC tests first right of refusal law in Minn. Southern Idaho has 10,000 shortage of homes. California obtains control over use of manufactured homes for fire survivors. Assisted Living homes on the rise. Canadian First People getting modular homes. Comparison: Manufactured Homes vs. Tiny Homes. Philly sees 50-unit modular apartment rise over one weekend. GOP, Dems have different ideas about housing market. UMH posts positive notes. Maine MH community expanding.

Saturday, Aug. 13 , 2016

Living in an Owned Home Young Begets Living in an Owned Home Later

Friday, Aug. 12

Trump’s Speech Plays to National Association of Home Builders

Manufactured Home Community Tangled in Legal Issues, Resident AG Complaints

Cavco continues to lead as Manufactured Housing Composite Value (MHCV) best the broader markets, posting gain

Modular Apartments may Alleviate Boston’s Housing Crunch

Discrimination? Was a Limited MH Loan Approval Legal? MHProNews Investigates

Developers Pare Down Size of New MH Community; Neighbors Still Unsure

Thursday, Aug.11

Cavco Industries biggest gainer as Manufactured Housing CV climbs

Florida’s Heartland Estates changes Hands

Cavco Industries, Second Largest Producer of Manufactured and Modular Homes, Reports Quarterly Results

First Time First Right of Refusal Law in Minn. Will be Tested

RV/MH Hall of Fame Releases Expansion Plans for Northern Indiana Event Center

Is Student Loan Debt Stifling the Economy?

Modular Housing Suggested for 10,000 Affordable Housing Shortage

Wednesday, Aug, 10

Nobility Homes rising, The Carlyle Group slips and Manufactured Housing CV dips

Manufactured Home can Provide Temporary Health Care

FEMA Grants California Control over Distribution of Emergency Manufactured Homes

Drew’s Q2 – Dividends and Insider Trading

Kashechewan First Nation getting Modular Homes following Major Flood

Management Group Increases Holdings in Equity LifeStyle Properties (ELS)

Tuesday, Aug. 9

Mainstream newspaper shares the love for MH, compares favorably to trendy Tiny Houses

Modular Apartment Building Rises in Three Day Weekend

UMH leads gainers, Skyline slips as MHCV trails the broader markets

Senior Single-family Market Remains on the Upside

Housing Platforms: Dems say Up the Ante; GOP says Shut Federal Spigot, Throttle Regulators

UMH Properties Q2 Conference Call Reveals a Winning Strategy in Manufactured Home Communities sector

Mon. Aug 8

Maine Manufactured Home Community Plans to Expand

Skyline 4Q Leaps Skyward, MH Composite Index rallies despite Dow’s slide

Media in North Coastal Oregon Advocates Manufactured Homes

Unemployment Rate Tells One Story; Labor Participation Rate Determines Revenue, Federal Debt

Three Delaware Residents of Manufactured Homes Receive Scholarships

Sunday Morning Recap-Manufactured Housing Industry News July 31-Aug. 7, 2016 ##

(Photo credit: MHProNews)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J Silver to Daily Business News-MHProNews.

Unique Wastewater Treatment System Solves Manufactured Home Community Problem

August 27th, 2015 Comments off

fetherston_mhp_association_prez_maurice_dumoulin__insideottawavalley__creditResidents of the 50 home site Fetherston Mobile Home Park in North Grenville, Ottawa, Canada were concerned in the late 1990s when they noticed sewage seeping out of the ground in their community, according to insideottawavalley. By 2001 the community was heading into bankruptcy, when the Ministry of the Environment ordered the North Grenville municipality to assume control of the community and attempt to repair the sewage system.

While the residents feared for several years they would have to leave their homes, a solution was finally reached Aug. 24, 2015 with the installation of Clearford Water Systems Inc.’s mini-sewage treatment plant, an innovative, first-of-its-kind in Canada design for communal water systems.

In 2008 North Grenville was ordered to empty the sewage holding tanks at Fetherston or else the residents would be forced to leave. Maurice Dumoulin, president of the Fethertston Mobile Home Park Association, persisted in trying to find a solution to the problem and was finally rewarded with the successful installation of a treatment plant that actually has room for another 90 residences in the community, and is designed to last 100 years.

The $1 million treatment plant will be paid for over a 30-year period by the association imposing a monthly fee on each of the manufactured homes. MHProNews understands its system might have numerous application possibilities in communities across the U. S.

Kevin Loiselle, president and CEO of Clearford Water Systems said his engineers worked on the project for a year, resulting in a system for more efficient communal wastewater treatment systems across the country. He added his company has finalized plans to install a similar system in a small tribal village in India. ##

(Photo credit: insideottawavalley–Maurice Dumoulin, president of the Fetherston Mobile Home Park Association)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Affluent Foreigners Purchased over $100 Billion in U. S. Real Estate

June 23rd, 2015 Comments off

bathroom luxury    master bath     480 sq ft not including the two closets  michael stravato  ny timesAt an average price of $500,000, wealthy foreigners bought a record $104 billion of U. S. residential real estate between April 2014 and March 2015, according to cnbc, accounting for eight percent of existing home sales. The National Association of Realtors (NAR) reports Chinese were the biggest purchasers attributable for $28.6 billion of the total, followed by Canada with $11.2 billion and India with $7.9 billion.

Florida was the favored destination state for overseas real estate buyers as 21 percent of purchasers bought real estate there, followed by California with 16 percent, Texas with eight percent and Arizona with five percent, accounting for half or the overseas buying. Only three percent of the purchases were in New York state, almost all of which were in New York City.

Europeans and Canadians preferred Florida and Arizona, while Asians opted for California and Texas, and Latin Americans favored Florida and Texas, as MHProNews has learned.

Although the number of properties sold to foreign buyers dropped from 232,600 the previous 12 months to 209,000, buyers purchased more expensive properties, which raised the total dollars spent. The mean purchase price was $499,600, 26 percent higher than the previous year, and nearly twice the national mean purchase price of $255,600. Over half the buyers—55 percent—paid cash.

The drop in total number of sales was likely due to the stronger dollar, which makes U. S. real estate more expensive for overseas buyers. However, U. S. property is less expensive than other cities that draw the wealthy: a condo that costs $1.6 million in New York would go for over $4 million in Paris and $2 million in Moscow. ##

(Photo credit: NYTimes/Michael Stravato–480 square foot master bath)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Sunday Recap May 31, 2015-June 6, 2015

June 7th, 2015 Comments off

Sunday_morning_recapIn manufactured housing news, L. A. “Tony” Kovach defines path to revitalize the MH industry, while one MH supplier picks new head, another MH producer closes, HUD Code production continues rising, MHC reverting to stick-built homes, Cavco seeks tax abatement, AZ MHC closing, Sen. Donnelly and MHI’s Jennison defend H.R. 650, MHC refinances, MH industry to target Hispanics, and Sun declares dividends. Meanwhile, students are active building modular homes, homeless gain modular container homes, stick-builder shifts to modular, and container mods become hotels in Canada. Minnesota MHA sets conference, first-time home buyers increase, and interest rates drop.

Saturday, June 6, 2015

Magnolia Manufactured Homes Closing

Friday, June 5, 2015

Realtors ® and Manufactured Home Dealers should develop a Symbiotic Relationship

Skyline Regains Yesterday’s Loss while Drew Drops

Keith Anderson Appointed New CEO at Champion

Drop in Down Payment Signals Uptick in First-time Home Buyers

Sun Declares Dividends on Common and Preferred Stocks

MMHA Sets Spring Conference

Thursday, June 4, 2015

Turning Renters to Manufactured Home Buyers

Technology has Revolutionized Manufactured Homes

Dow Drops One Percent; Most Manufactured Housing Stocks Fall

Manufactured Home Tax Statements have been Mailed

Arizona Manufactured Home Community will be Repurposed under New Ownership

Rio Plaza Obtains Refi Package of $5.9M

Wednesday, June 3, 2015

The Path to the Rebirth of the Manufactured Housing Industry

HUD Code Production of Manufactured Homes Continues Climbing

Nobility Plummets -6.94%; MHCV Again Out paces Dow

Aussie Modular Home is Extremely Green

Burgeoning Hispanic Demographic presents Opportunities for Manufactured Housing

Changing Housing Market Leads Company to Modular Homes

Tuesday, June 2, 2015

Cavco Seeks Tax Abatement to Upgrade Fairmont Homes

Interest Rates, Median Home Price Falls

Cavco Seeks Tax Abatement to Upgrade Fairmont Homes

Shipping Containers will become Modular Housing for the Homeless in Hawaii

Senator Joe Donnelly Responds to Criticism of The Preserving Access to Manufactured Housing Act

Canadian Containers become Modular Motels

Monday, June 1, 2015

Numerous Students Built Cape Cod Modular Home

High School Building Modular Homes for Habitat for Humanity

MHCV Gains more Percent than Dow, Nasdaq, and S&P Combined

MHI CEO Richard Jennison Defends H. R. 650

Manufactured Home Sites Transitioning to Stick Built  ##

(Image credit: MHProNews)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Upscale Modular Home is Top Prize in Lottery

May 8th, 2015 1 comment

pac_national_exhibition_prize_homeKaroleena, an Okanagan, British Columbia, Canada modular home builder, has been selected to build the Pacific National Exhibition (PNE) show’s prize home, according to infotel.ca. The 3,800 square-foot, $2.1 million dollar modular home took six months to build and 30 days to assemble on-site. It will be trucked to the show in Vancouver.

Consisting of a series of modules built 12′ 6″ high and 16′ wide, Karoleena’s home features steel-framed construction, spray foam insulation and two-by-fours laid side by side for the roof construction. Co-founder Kris Goodjohn said, This will be huge for us. Vancouver is our target marketplace because it’s a higher end price point we’re in, and Vancouver’s definitely that market for us.

Modular housing builder Britco of Langley, British Columbia has supplied the prize home in the past, but they generally do not build residential. As MHProNews reported March 6, 2014, Britco supplied modular housing for athletes during the Vancouver 2010 Olympics, and will supply housing for the Canada Winter Games in east central BC later this year.

The prize home is the culmination and grand prize of a series of lottery drawings that offer vacations, cars and the modular home. The winner will be selected Sept. 10 at a drawing at the Exhibition building. Proceeds from the sale of tickets benefit a variety of communities in Canada. ##

(Photo credit: infotel.ca–Pacific National Exhibition modular prize home)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Drew Industries Acquires Canadian Firm

April 27th, 2015 Comments off

lippert components  rvbusiness creditLippert Components, Inc., a wholly-owned subsidiary of Drew Industries, Inc., which supplies components to the manufactured housing and recreational vehicle industries, has acquired Spectal Industries., Inc. of Granby, Quebec, Canada.

With production facilities in Canada as well as Tennessee and South Carolina, Spectal manufactures doors and windows for commercial and school buses, RVs, trucks and emergency vehicles. Sales in 2014 for the company were approximately $25 million.

Headquartered in Elkhart, Indiana, Lippert borrowed from its $100 million line of credit to pay $22.3 million for Spectal plus contingent consideration based on future sales. MHProNews reported Aug. 18, 2014, Lippert acquired Duncan Systems, Inc. a supplier of aftermarket RV and truck windows and awnings.

As seekingalpha informs MHProNews, Drew’s President Scott Mereness said, We expect to leverage our extensive manufacturing, purchasing, distribution and administrative capabilities to improve the profitability of this business, and we expect this acquisition to be immediately accretive to Drew’s earnings.

Malcolm Lapointe, Chief Executive Officer of Spectal, will be retained to continue managing the business. Products sold under the Spectal name will now be sold under Lippert Components. In Canada, LCI will operate under Lippert Components Canada. Drew has 41 factories located throughout the United States. ##

(Image credit: Lippert Industries, Inc.)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

DRM Investments use technology for enhanced Commercial Modulars

December 2nd, 2014 Comments off

 

drm-investments-ltd-canada-commerical-modular-posted-daily-business-news-mhpronews-com-Commercial modular structures are non-residential buildings pre-fabricated in a production facility and then assembled on location for permanent installation.

As in the case of residential modulars, commercial modulars use the same building materials that are used in conventional construction. So there is no loss of quality, in fact, both time and enhanced structural strength are the routine results from factory-built construction.

DRM Investments LTD in Canada is a example of the growing interest and use of such building methods. They’ve done projects for education, healthcare, offices and more, as their YouTube video explains.  

As MHProNews  has previously reported, Canadian investors are making big moves in U.S. housing markets.

China-based LandSea will be using industrialized housing methods to build high-rise living for major cities in the U.S. Champion and other manufactured and modular home builders in the U.S. are doing similar projects. The facts support the value of all factory construction. DRM is one of the many operations that reveal the increasing acceptance of commercial and residential off-site building. ##

(Photo credit: DRM Investments LTD)

joseine-josie-thompson-writer-daily-business-news-mhpronews-com50x50-Article submitted by Josie Thompson to – Daily Business News – MHProNews