KBS Builders Secures $3.2 Million Contract for Townhouses

KBS Builders Secures Major Contract for New Housing Project

Star Equity Holdings, Inc., a diversified holding company, has unveiled exciting news. Its subsidiary, KBS Builders, Inc., has recently inked a contract worth $3.2 million aimed at developing a multifamily housing project. This contract is a significant achievement for KBS and highlights its expanding footprint in the construction sector.

Details of the Project

The contract entails the fabrication of 40 modular units designed to create five townhouse condominiums located in Lincoln County. With production set to kick off soon, the project is scheduled for delivery in the second quarter of the upcoming year. This contract represents the second of what was anticipated to be multiple contracts exceeding $5 million outlined in previous earnings discussions.

Strategic Growth in Housing Development

Rick Coleman, the CEO of Star Equity Holdings, expressed enthusiasm regarding this new contract, emphasizing its importance in further establishing KBS's reputation for quality within New England's multifamily housing market. Coleman noted the consistent pace at which large commercial projects are transitioning from proposals to booked contracts, reflecting a robust sales pipeline.

Addressing Housing Shortage

In his remarks, Mr. Coleman highlighted how KBS's strategic location and specialized skills enable them to meet the pressing demand for housing solutions in the region. He pointed out that KBS is committed to providing high-quality construction services tailored to the needs of the community and its clients.

About Star Equity Holdings, Inc.

Star Equity Holdings is structured into two primary divisions: Building Solutions and Investments. Each division plays a pivotal role in the company's diversified operations and focuses on enhancing its market presence.

Building Solutions Division

This division encompasses various aspects, including modular building manufacturing, structural wall panel production, and glue-laminated timber construction. By diversifying its manufacturing capabilities, Star is positioning itself as a leader in innovative building solutions.

Investments Division Overview

Star's Investments division encompasses managing and financing the company’s portfolio of real estate ventures and its stakes in both private and public organizations. This strategic bifurcation of operations supports sustainability and growth across the company’s endeavors.

Looking Ahead

As KBS Builders progresses with its current contracts, the company remains focused on future opportunities that align with its long-term vision of delivering outstanding construction solutions across New England. The upcoming project not only signifies growth for KBS but also contributes positively to the regional housing market.

Frequently Asked Questions

What contract has KBS Builders secured?

KBS Builders has secured a $3.2 million contract for a multifamily housing project involving the construction of five townhouse condominiums.

When will the project start?

Production for the project is expected to begin shortly, with delivery scheduled for the second quarter of the upcoming year.

What is Star Equity Holdings' role in this project?

Star Equity Holdings oversees KBS Builders as a subsidiary and contributes resources and support for the successful execution of contracts.

How does this project impact housing availability?

This project aims to alleviate some of the housing shortages in New England by adding much-needed multifamily units to the market.

Who can I contact for more information?

For more inquiries, please contact Rick Coleman, CEO of Star Equity Holdings, or reach out through the provided contact details.

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