Modular and manufactured home producer Cavco Industries signed an agreement to acquire a 184,000-square-foot manufacturing facility in Hamlet, Noth Carolina, which will be modified to produce homes built under the standards of the Department of Housing and Urban Development (HUD).
“Demand for our homes, and affordable homes in general, continues to be very strong,” Bill Boor, president and CEO of Cavco Industries, says. “With the addition of this new facility, which will bring our total number of home building production lines to 27, we are expanding across to much-needed affordable housing solutions and strengthening our position in the region. This is a great opportunity to quickly bring new capacity online with an in-place and capable workforce.”
The facility’s seller, Volumetric Building Cos., currently produces multifamily residential and commercial projects in the facility and intends to move that production closer to their markets in the Northeast. Volumetric Building Cos. will complete existing projects through this summer, at which time Cavco will complete renovating the facility for HUD code home production. Cavco anticipates it will start home production by the fourth quarter of 2022.
Phoenix-based Cavco Industries designs and produces factory-built housing products primarily distributed through a network of independent and company-owned retailers.
