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Star Equity Holdings, Inc. (NASDAQ:STRR, STRRP))))) ("Star Equity" or the "Company"), a diversified holding company, announced today that its KBS Builders, Inc. ("KBS") business has signed an approximately $1.9 million initial contract to manufacture 12 modules as part of a multi-phase project designed to bring affordable housing to rural Maine.
This first phase of the project will provide 18 affordable rental units designed to conform with local architecture and maintain the historic integrity of the neighborhood. Units to be built as part of this phase are expected to be ready for occupancy by early spring 2024.
Rick Coleman, CEO of Star Equity, noted, "This new multi-phase project is another indication of the increasing acceptance of modular manufacturing, as many local government organizations have identified modular construction as integral to addressing housing affordability and availability. Over the years, KBS has substantially expanded its manufacturing, technical, and delivery capabilities and has been selected to participate in several large projects in the New England area, including affordable workforce and veteran housing, college dormitories, and multifamily buildings. We're proud to be a part of this important initiative."
Posted In: STRR
