Archive

Posts Tagged ‘energy companies’

Officials in Alberta’s Fire-whipped Fort McMurray Considering Modular Homes

May 12th, 2016 Comments off

Canada__Alberta__wildfire__reuters_chris_wattie_5_2016Following a story MHProNews last posted May 5, 2016 regarding the wildfires that have engulfed Fort McMurray in Alberta, Canada, forcing the evacuation of 90,000 residents and destroying ten percent of the city, Mayor Melissa Blake said the first priority is to get temporary housing so the shuttered oil companies can get back to pumping one million barrels of oil daily.

Noting most of the infrastructure is still intact, she said this will offer an opportunity to right-size the city since the energy slump left it with many vacant houses and high unemployment, resulting in the likelihood of many who were burned out to seek housing and work elsewhere.

Workers were drawn to the region with their families several years ago when the oilfields were booming. If energy companies cannot house workers and their families quickly, the workers will not stay.

Suncor Inc. Chief Executive Officer Steve Williams said the energy companies will support efforts in rebuilding the hospital, pipelines and the electrical distribution center, according to reuters.

Alberta Premier Rachel Notley said officials have to complete their assessments of the damage, set up transportation, and secure food and supplies before people can return. “There are hazardous materials and broken power lines. Basic services, gas, water, waste disposal, healthcare and much more needs to be re-established,” she said.

Troy Ferguson, CEO of modular work camp builder Redrock Group, said he has been contacted about the kind of housing he can supply and the timeline for installation.

Marc Roy, who was chief of staff for the Federal Emergency Management Agency (FEMA) following Hurricane Katrina, said officials need to allocate resources carefully long term because some residents will likely not return. “Are you building with the hopes that you build a field of dreams and people come to fill it, or are you using your resources as wisely as you possibly can at the moment?” he said. “You just can’t put it back exactly like it was and make that your plan. That does not work.”

If a resident decides not to repair or rebuild, they will receive cash value for the home at the time of the loss, which could be less than homeowners expect since the oil downturn decreased values. ##

(Photo credit: reuters/Chris Wattie–Fort McMurray burned out in Canada)

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

UMH Properties Receives a Strong ‘Buy’ on its Stock

September 24th, 2013 Comments off

Brad Thomas documents the annals of UMH Properties, Inc., (UMH:NYSE) since its beginning in 1968 to its election to REIT (real estate investment trust) status in 1982, and being publicly traded in 1985 after issuing an IPO, as reported in seekingalpha.com. Although it is considered a small REIT because its market cap is $184 million and has assets of $384 million, Thomas notes since 2009 the number of land lease communities it owns has risen from 28 to 68, and the homesites nearly doubling to 12,800. The company owns 37 manufactured housing communities (MHCs) in the Marcellus Shale region where energy companies are expected to be drilling, attracting possibly thousands of job-seekers who will need housing. UMH also has a financing arm that sell homes to consumers. Revenue is expected to surpass last year’s, he says, and UMH pays a higher dividend yield at 7.38% than either Sun Communities, Inc., or Equity LifeStyle Properties, its two closest peers, as MHProNews knows. After driving near every angle of financing through a fine tooth comb resulting in many charts, graphs and formulas, Thomas initiates a buy on the stock at $9.75 a share.

(Photo credit: UMH Properties, Inc.)

Sales High in Ohio

June 10th, 2013 Comments off

Sales of manufactured housing have risen 34 percent this year in Ohio, says Tim Williams, Executive Director of the Ohio Manufactured Homes Association. According to what mydaytondailynews tells MHProNews, last year’s sales of manufactured homes homes increased by the greatest number in 22 years, rising 28 percent. In 2009 sales bottomed out at 596 homes, down from a high of 8,017 in 1998. Census data reveal four percent of the housing in Ohio is manufactured homes. Williams says a lot of the new sales are being reported in the Utica Shale area in eastern Ohio where energy companies are drilling for oil and gas, as we reported here July 11, 2012.

(Image credit: Liberty Homes)

Housing Shortage has Unintended Consequences

February 22nd, 2013 Comments off

As MHProNews has reported in the Daily Business News for several years now, the oil boom in western North Dakota’s Bakken Region has brought an influx of factory-built housing to the area, including modular man camps, manufactured and modular homes, even some Federal Emergency Management Agency trailers to house employees of Williston State University in Williston. Bloomberg reports employees of one of the energy companies live in modular housing trucked over from the Winter Olympics in Vancouver. The housing vacancy rate and the unemployment rate are both under one percent, leading some major employers to purchase housing for their employees, or risk not having workers who will have been lured away to the higher-paying jobs in the oil fields. A hospital is building a 68-unit apartment building just for its employees; a local bank is charging employees one-third of the market rate for townhomes it bought just to retain staff. Some restaurants are only open certain days because of a staff shortage. With the oil boom expected to last for a while, North Dakota is now the second largest crude producer in the nation behind Texas.

(Photo credit: dl-online/Homark Homes–modular man camps))

More Modular Housing Opens in North Dakota

February 15th, 2013 Comments off

PRWeb informs MHProNews M SPACE has begun leasing studio, one and two bedroom modular homes in the Bakken oil field area in western North Dakota. The 114 Ponderosa and 46 Ridgeview furnished homes began welcoming new residents in January in this oil boom town where some people earning $100,000 annually are living in cars and RVs in parking lots due to the housing shortage. Meanwhile, oil field workers are moving in to modular workforce duplexes rented to the energy companies. M SPACE provides commercial and residential modular housing solutions to oil and mining development companies across the nation.

(Photo credit: Casy Page/minotdailynews–Kari Andren and Mary Pipla check out a man camp workforce modular unit in Williston, ND.)

Modular Shipments Rise Q1

May 29th, 2012 Comments off

The National Modular Housing Council reports shipments of new modular homes rose 18.7% compared to the first quarter 2011, hitting 2,922. Shipments by state relative to the first quarter last year indicate 16 states received more than last year, three received fewer homes, and 12 states experienced no significant change. The states receiving the most are North Dakota, an increase of 232 units, quarter-over-quarter, a rise of 552.4%; Minnesota, increase of 36 over Q1 2012 over Q1 2011, + 124.1%; Nebraska, up 27 units quarter-over-quarter, for a rise of 122.7%; Texas saw a 90.9% increase followed by Ohio with a 84.2% rise. MHProNews.com has learned all five states have a relationship with energy companies drilling for fuel.

(Photo credit: SicaHomes)

Modular Workforce Units Will Convert to SF Homes

March 16th, 2012 Comments off

Following up on our story we published March 9, 2012, the Carrollton, Ohio City Council heard Dan Coen of Utica Housing Group from Canton describe his plans for two modular housing developments comprising 31 homes. The homes will be leased by energy companies to house their oil and gas employees during drilling operations. Each house will have four bedrooms, four baths, and a common eating and living area, and will lease for $55-$85 a night. When the drilling moves on, Coen says he will convert the modular units to single family homes, each with a garage. The TimesReporter tells MHProNews.com he asked the council for water and sewer hookups to avoid paying the 45 percent surcharge for being outside the village limits. Future plans include annexation into the town of Carrollton, near the WVA and PA state lines.

(Photo credit: Excel Homes)

Sam Zell: Hunting in South America

January 4th, 2012 Comments off

ReutersAfrica reports that U.S. business magnate Sam Zell, chairman of Equity Lifestyle Properties, the real estate investment trust (REIT) that owns over 134,000 manufactured housing homesites in North America, is in talks to buy a controlling interest in Brazil’s Grupo Tha. At 115 years of age, Grupo Tha is the country’s oldest construction company and real estate developer. Zell is also chairman of Equity Residential, the largest apartment REIT, and has substantial interests in energy companies, transportation, logistics, media and health care in a variety of countries spanning the globe.

(Photo credit: WallStreetJournal)