Modular Builder Acquires 25 Acres for 496-Unit N. Texas Senior Community
SG Blocks bought 25 acres in North Texas to be used for 496 multifamily units. The current plan is to design and create an active senior living community one modular unit at a time. Once completed, units will be available at market-rate pricing. The project will be in Denison, just south of the Oklahoma state line.
The total development cost at this time is expected to be approximately $115 million. The profits from the project over 5 years are estimated at $40 million. The 496 individual, modular apartments will create close to $80 million of construction for an affiliated company, SG Echo.
The Company creates pre-fabricated modules from wood, steel, and shipping containers to create standalone, modular structures that can be stacked upon each other.
The Company claims it can can reduce construction time by up to 50% and potentially save 10-20% on construction costs.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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