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Posts Tagged ‘Fleetwood’

Modular Housing Suggested for 10,000 Affordable Housing Shortage

August 11th, 2016 Comments off

Idaho_Guerdon Modular Buildings_Star Apartments in Los Angeles_idahostatesman credit postedDailyBusinessNewsMHProNewsWriting in idahostatesman, Jerry Brady, a business man and member of Compassionate Boise, having once “snobbishly dismissed” manufactured and modular homes as flimsy and unworthy, now realizes with a shortage of some 10,000 affordable homes in south and south-central Idaho, says, “I can’t do that any longer. If you dream as I do of home ownership for Idahoans, many of whom spend as much as half their income on shelter, we must consider building many units in one place at a low cost.” MHProNews understands these homes cannot be built on the course we are on in the housing market.

He says there were once 14 off-site home builders in south and south-central Idaho, but that number has been reduced to five or six, including Champion, Fleetwood and Nashua. Three of the modular builders are producing workforce housing in the oil patch, but with the uncertainty in the oil trade, Brady suggests more companies should look homeward for more local opportunities.

As an example, he notes Guerdon Modular Buildings of Boise supplied the modules comprising the 102-unit apartment complex for the Skid Row Housing Trust Star Apartments in Los Angeles. The 350 sq ft apartments are for housing the neediest citizens of LA.

While he does not offer any financing solutions for would-be homeowners, Brady states there are 10,000 homeowners nationwide who own their own communities as cooperatives, including seven co-ops in neighboring Montana. Additionally, the Urban Land Institute reports there are 16 private national housing funds earning a decent return in the affordable housing space. ##

(Photo credit:idahostatesman-Guerdon Modular Buildings siting modules for the Star Apartments for homeless in Los Angeles)

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

Sunday Morning Recap-Manufactured Housing Industry News Aug. 9-Aug. 16, 2015

August 16th, 2015 Comments off

mhpronews_sunday_morningWhat’s New in public focused Manufactured HomeLivingNews.com

Nubble Lighthouse and Sohier Park. York, Maine – US Destination

What’s New in Manufactured Housing Industry Professional News

GSEs set to offer secondary market for manufactured home loans. Two MHCs change hands, new MHC planned in Canada. CFPB not protecting consumers OR employees. CA city tries to protect MHCs from repurposing. Modulars rising in Germany, Nepal, Kansas. TX lenders lose FHA lender status for MH. Reputation marketing for MH available. MHC residents defend owner. MHARR detects jaundiced eye in HUD proposal. And much, much more news and views to accompany your morning coffee.

Saturday, Aug. 15

Consumer Financial Protection Bureau is Rife with Discrimination

Friday, Aug. 14

246 Site Manufactured Home Community Sold in Michigan

Bowersox Takes Vice President Position with Manufactured Housing Institute

MHCV Outperforms Dow. LPX Gains 3.55%

Shigeru Ban develops Modular Shelter for Quake Survivors in Nepal

Kingsley Management Corp. Acquires Florida Manufactured Home Community

Modular Homes will Result from Land Bank Transfer

Thursday, Aug. 13

Secondary Market for Manufactured Home Loans Directive Due Soon

San Jose wants a Six Month Moratorium on Re-purposing of Manufactured Home Communities

Council Strengthens Language Regarding Relocating Residents

Patrick Gains the Most of MH Stocks; MHCV Slips

Land Bank Authority Funds Modular Housing Project

Manufactured Home Community Founder Supports Non-profit in New Jersey

Wednesday, Aug. 12

Citizens Paring Down Policies of Manufactured Home Owners

California Takes Prize for Most Expensive Homes

Fleetwood Poised to take Advantage of Opportunities Down Under

China Devaluation Leaves Stocks Flat; Deer Valley Falls Following Prior Big Gain

European Modular Housing Builder Overwhelmed by Demand

55+ Housing Market Index Remains Steady

Tuesday, Aug. 11

MHARR Questions HUD’s Proposed New SAA Funding

Lenders Fined, Lose FHA Approval Status for Manufactured Home Lending Fraud

Deer Valley Homes Skyrockets +85.71%; Dow Loses most of Yesterday’s Gain

Shelters Developed for Military may be Used for Disaster Scenarios

Modular Home Construction can Realize Cost Savings

Drew goes Fishing, Finds Furniture for Fresh Water Float

Monday, Aug. 10

Grenade Marketing Offers Reputation Marketing for Manufactured Home Industry Pros

Dow Posts Strong Gain, MHCV Slips, LPX Gains 4.60%

Passages: Norman Schweiss

Manufactured Home Community Residents say City has it Wrong

Canadian City Planning new Manufactured Home Community

Sunday Morning Recap-Manufactured Housing Industry News Aug. 2-Aug. 9, 2015  ##

 

(Photo credit: MHProNews)

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

Cavco Acquires Manufactured Home Producer Fairmont

May 5th, 2015 Comments off

cavco logoMHProNews has learned from globenewswire that manufactured and modular home builder Cavco Industries, Inc. (NASDAQ:CVCO) has acquired Fairmont Homes, Inc. of Nappanee, Indiana through its wholly-owned subsidiary, FH Group, LLC.. With manufacturing plants in Indiana and Minnesota, Fairmont produces manufactured and modular homes and park model recreational vehicles (RVs), and homes built to Canadian codes.

We are pleased to have the Fairmont business and employees join the Cavco group of companies,” said Cavco President Joe Stegmayer. “We believe that Fairmont’s strong production capabilities, reputation for product quality and service and its excellent customer base fit well with Cavco’s philosophy and approach to doing business.

Fairmont’s products will continue to be sold under the Fairmont, Century, Friendship and Harmony names, and Brian Cira will continue on as president of Fairmont Homes.

In addition to manufactured and modular housing, from its headquarters in Phoenix, Arizona, Cavco also produces park model RVs and vacation homes, under subsidiaries Fleetwood Homes, Palm Harbor Homes, Nationwide Homes and Chariot Eagle, through 19 manufacturing facilities.

Although the purchase price was not disclosed, the acquisition was funded with Cavco’s internal capital. ##

(Image credit: Cavco Industries, Inc.)

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

Cavco Releases Quarterly and Annual Financials

May 24th, 2013 Comments off

According to globenewswire, Cavco Industries, Inc. reports net income before taxes for the fiscal fourth quarter 2013 was $3 million, up from $2.9 million from the same period last year including a $1.2 million tax benefit from the acquisition of Palm Harbor. Net revenue rose 9.4 percent for fiscal Q4 2013 over Q4 2012, $108.8 million over $99.5 million. For the fiscal year ending March 30, 2013, net revenue rose 2.1 percent to $452.3 million from $443.1 million for the same period ending 2012. Net income attributable to Cavco stockholders for fiscal year 2013 was $5.0 million compared to $15.2 million the previous year, although this included approximately $11 million of the gain recognized from the acquisition of Palm Harbor. Joseph Stegmayer, Chairman, President and Chief Executive Officer said, “We are pleased to report improved results for the fourth quarter compared to the same period last year. We realized a 15.1% increase in home sales to 2,176, up from 1,890 homes sold in the fourth quarter of fiscal 2012. On an annual basis, the average sales price per home decreased to approximately $48,594 compared to $51,760 in fiscal year 2012, as demand rose for small size and lower price point homes. However, we sold 6.8% more homes overall in fiscal 2013 versus last year, totaling 8,398 homes compared to 7,860 in fiscal year 2012.” As MHProNews knows, Cavco is the second largest producer of manufactured homes in the U. S., marketed under Cavco, Fleetwood, and Palm Harbor.

(Photo credit: Stacy Hairston/franklinnews-post–Cavco Homes, Rocky Mt., VA facility)

Cavco to Announce Quarterly Earnings Report

May 21st, 2013 Comments off

As globenewswire informs MHProNews Cavco Industries, Inc. will release its earnings report for Q4 of fiscal year 2013 following the close of the market Thurs., May 23, 2013. Friday, May 24, senior management officials will discuss the results in a live webcast at 12:00 PM Eastern Time. Listen via Internet: http://www.cavco.com under the Investor Relations link. The call will be archived using the same contact information for 90 days. The second largest producer of manufactured homes in the nation, Cavco designs and produces factory-built housing products under a variety of brand names including Cavco, Fleetwood, and Palm Harbor, and modular homes under the Nationwide Homes brand.

(Image credit: Cavco Industries, Inc.)

Former MH Plant to Reopen as Modular Facility

November 22nd, 2012 Comments off

TheAlmaTimes tells MHProNews the former Fleetwood manufactured home plant in Alma, Georgia that began production in 1993 and closed July 2009 as the result of bankruptcy will reopen as a modular commercial manufacturing facility. Titan Modular Systems plans to hire 100 workers.

(Photo credit: TheAlmaTimes)

MHI Sluggers come to Louisville, Part I

January 16th, 2012 Comments off

In speaking to a packed room at the Louisville Manufactured Housing Show Jan. 12, Joe Stegmayer, CEO of Cavco/Fleetwood and MHI Chairman told attendees about the ongoing efforts of MHI to advance the Industry’s agenda in Washington. Stegmayer spoke of the critical nature of involvement by state associations, because “all politics are local.” Stegmayer said MHI and MHARR have been working together on some issues coming out of Washington. Both organizations participated in a conference call Nov. 22, 2011 with Federal Housing Authority (FHA) Commissioner Carole Galante and Housing and Urban Development (HUD)’s program manager Henry Czauski. They discussed tight credit, a non-career administrator for the MH program, and representation on the Manufactured Housing Consensus Committee (MHCC). Stegmayer said he hopes they can work even more closely with each other in the days to come. He said MHI is carefully looking for a replacement for Thayer Long, and suggestions on a possible replacement should be sent to jboehlert@mfghome..org. Sources tell MHProNews that the goal is to have a replacement for Thayer Long in place on or before March 2012. Some of the biggest names in the Industry were in attendance for Stegmayer’s address, along with a healthy dose of ‘mom and pop’ operators who make up the majority of the players in the Manufactured Housing Industry today.

(Photo credit: MHProNews)

Palm Harbor Closing One of its Plants

April 5th, 2011 Comments off

Statesman says Palm Harbor Homes announced it will close its Kyle, Texas, manufacturing plant in early June, idling 129 employees.  The company filed bankruptcy last November, and was acquired by Cavco Industries through its Fleetwood subsidiary under a bankruptcy court auction in March for $84.9 million.  Palm Harbor has eight other plants, and sells its manufactured homes through its own stores as well as independent retailers.

Dow Falls Slightly, Housing Stocks Mixed

March 4th, 2011 Comments off

News of oil hitting $104 a barrel sent the Dow down .72 percent to close at 12,169.88.  Cavco’s subsidiary Fleetwood received approval from the bankruptcy court to acquire Palm Harbor.  Cavco closed up .55 percent, Skyline Corp. dropped 2.88 percent, Nobility and Deer Valley remain unchanged.  The Manufactured Housing Composite was down .62 percent to close at 1161.90.

Promoters Say Tulsa Show Filling Up

February 3rd, 2011 Comments off
Reports from Tulsa find the 2011 Great Southwest Home Show is filling up. Southern Energy of Texas has committed along with Southern Energy of Alabama.  The lineup also includes Legacy Housing, Skyline Corporation, Palm Harbor Homes, American Homestar, Fleetwood, Clayton and others. A large number of booth exhibitors will be showcasing their products during both Trade and Public Days.  Promoters note the show in Tulsa will be the largest indoor home show in the country and the only one west of the Mississippi. More information is available at http://mhmsm.com/11/111.