KBS Builders Wins $2M Contract For Nantucket Workforce Housing Project

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 a $2 million contract to manufacture 14 modular units to provide seasonal workforce housing for the Town of Nantucket, MA.

 

These modular units will be used to construct a multi-family building consisting of 20 apartments, offering affordable housing to those who live and work on the island. KBS expects to begin manufacturing these units in March, with delivery to be completed by May.

Rick Coleman, CEO of Star Equity, noted, "We are thrilled to start the year with the signing of another large affordable housing contract for KBS. Following the announcement of our $1.9 million affordable housing project in Maine in late 2023, this new contract further demonstrates KBS' essential role in supporting local governments and communities to address challenges related to housing shortages, especially affordable workforce housing. Our KBS team has worked diligently to expand its capabilities and continues to be a major modular player in the New England area."