HUD’s Latest Code Changes Signal a New Era for Multi-Unit Affordable Housing
13 Setembro 2024 - 2:24PM
|
For additional information, contact: |
Colleen RogersSVP – Marketing &
Communicationsmedia@cavco.com |
News Release |
Phone: 972-763-5038On the
Internet: www.cavcohomes.com |
FOR IMMEDIATE RELEASE
HUD’s Latest Code Changes Signal a New
Era for Multi-Unit Affordable Housing
New HUD Codes approve multi-dwelling unit
manufactured homes for nationwide construction
PHOENIX, Ariz., September 13, 2024 (GLOBE
NEWSWIRE) – Cavco Industries, Inc. (Nasdaq: CVCO) is excited to
announce that on Wednesday, September 11, 2024, the U.S. Department
of Housing and Urban Development (HUD) announced it has implemented
the most extensive changes to its Manufactured Home Construction
and Safety Standards (HUD Code) in more than 30 years.
While the HUD Code changes include almost 90 new
and updated standards to foster innovation, improve safety and
accelerate the production of homes, Cavco is most excited about
HUD’s official approval for the building of duplex, triplex and
quadplex homes nationwide, with a waiver allowing for immediate
construction. This is a bold move to address the nation’s
affordable housing crisis by enabling homebuilders to push for more
creative housing solutions using manufactured homes.
As an industry leader, innovator and builder of
the first single and double-section HUD-approved true duplexes,
Cavco applauds HUD for their commitment to housing innovation and
providing affordable housing to more people. These changes will
provide new opportunities for Cavco’s unique, high-quality line of
Anthem duplex homes by reducing build times, widening availability,
promoting design flexibility and unlocking new applications.
Cavco was the first manufactured homebuilder to
recognize the potential of manufactured duplex homes and work with
HUD to build the first single and double-section HUD-approved true
duplexes as part of its innovative Anthem series. Cavco launched
the first HUD-approved multi-section duplex in Rocky Mount, VA in
December 2023 and unveiled the first HUD-approved single-section
manufactured duplex in Washington DC in June 2024.
This innovative single-section Anthem duplex
model, the Blue Ridge, has two separate living units built on one
frame or section. One of the living units is a 2 bedroom, 1 bath,
and the other a 1 bedroom, 1 bath. Both units offer a spacious,
open plan living area and designer kitchen and bathroom and are
separated by a firewall.
“Cavco Industries is excited about the
possibilities that HUD’s new Code changes are creating to expand
affordable housing across the nation,” said Bill Boor,
Cavco’s President and CEO. “We remain committed to solving
the affordable housing crisis with innovative home designs that are
forward-thinking and high quality, yet affordable. It is part of
our dedication to leveraging our experience, creativity and
experimentation to reach for new solutions to affordable housing
needs.”
About Cavco Cavco Industries,
Inc., headquartered in Phoenix, Arizona, designs and produces
factory-built housing products primarily distributed through a
network of independent and Company-owned retailers. We are one of
the largest producers of manufactured and modular homes in the
United States, based on reported wholesale shipments. Our products
are marketed under a variety of brand names including Cavco,
Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot
Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood and
MidCountry. We are also a leading producer of park model RVs,
vacation cabins and factory-built commercial structures. Cavco’s
finance subsidiary, CountryPlace Mortgage, is an approved Fannie
Mae and Freddie Mac seller/servicer and a Ginnie Mae
mortgage-backed securities issuer that offers conforming mortgages,
non-conforming mortgages and home-only loans to purchasers of
factory-built homes. Our insurance subsidiary, Standard Casualty,
provides property and casualty insurance to owners of manufactured
homes. For more information visit cavcoanthem.com.
For additional information, contact:
Colleen Rogers
SVP – Marketing & Communications
media@cavco.com
Phone: 972-763-5038
On the Internet: www.cavcohomes.com
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