SG Blocks Brings Modular Format to Single-Family
Brooklyn-based SG Blocks Inc. is partnering with a pair of mortgage banking veterans to form SG Residential. The new venture will extend SG Blocks’ platform of container-based structures into single-family residential.
The plan is to enable new homebuyers and home builders to purchase container-based modular homes, and connect them to a network of funding sources and down payment assistance programs. Led by mortgage banking veteran David Villareal, the newly-established company is already working with several developers on a pipeline of over 500 homes in targeted markets across the country.
Mortgage industry executive Lee Shaw, who among other accomplishments chaired a HUD committee on discriminatory lending practices, will join the advisory board of SG Residential. Paul Galvin, chairman and CEO of SG Blocks, will serve as SG Residential’s chairman.
“SG Blocks is invested in disrupting the construction and housing industries and meeting the demand for affordable housing,” said Galvin.
For comments, questions or concerns, please contact Paul Bubny