Nationwide Homes to Participate in May 10th Grand Opening of Martinsville’s Award-Winning Five Points Neighborhood
05 Mai 2022 - 2:00PM
Nationwide Homes, a brand of Cavco Industries, Inc. (Nasdaq: CVCO)
(“Cavco” or the “Company”), announced today that it will
participate in the upcoming grand opening, on Tuesday, May 10, of
the Five Points Neighborhood Initiative in Martinsville, where its
own manufacturing facility is based. Last month, Cavco won the
Manufactured Housing Institute’s (MHI) inaugural “Community Impact
Project of the Year” award (2022) for this project. This award,
voted on by a panel of independent manufactured home industry
experts, recognizes homebuilding company efforts to address social
challenges or underserved needs at the local level.
“The success of the Five Points Neighborhood
Initiative is a shining example of industry partnering with
community leaders to make a significant and beneficial impact on
the lives of our fellow citizens,” said Donald Aheron, President of
the Nationwide Homes division of Cavco. “We are extremely proud to
be an integral part of this worthwhile project that seeks to
revitalize a community – right in our own hometown.”
Nationwide Homes partnered with a diverse list
of local, state and national organizations to build the Five Points
neighborhood. In addition to Nationwide, this unique coalition of
public and private entities included Virginia Housing, City of
Martinsville, USDA-Rural Development, Silverpoint Homes –
Nationwide’s top independent retailer, Martinsville-Henry County
Economic Development Corporation, United Way of Henry County &
Martinsville, and The Harvest Foundation. Together, this dedicated
team committed copious amounts of time, manpower and resources to
revitalize this underdeveloped area with homes to be sold to
owner-occupied buyers meeting the project’s housing-insecurity
requirements. Each home has a five-year deed restriction requiring
owner-occupancy.
The Five Points project comprises homes designed
to be starting points to help alleviate housing challenges that
many families face. Specifically, the focus of the project is to
provide new housing that’s affordable for individuals earning in
the $17-to-$20-per-hour range – somewhere close to the prevailing
wage rate for local business and industry, and what has been
referred to as “workforce housing.” The Five Points neighborhood
will include 27 new cottages and townhomes that range from $125,000
to $155,000. In addition, upon completion, the project is expected
to generate over $100,000 per year in new utilities and real estate
taxes for the city and is part of the larger revitalization concept
of the uptown Martinsville area.
With a $500,000 grant to complete site work
provided by Virginia Housing, Nationwide Homes built the 27
single-family units in 2020 and placed them into storage in
anticipation of the setting of the homes, as the Five Points site
was prepped, including grading of the land, installation of the
underground utilities serving the units and construction of the
foundations for the homes. After the coalition worked through many
COVID-related delays, in 2021, the Nationwide team members began to
place the homes on the site. Upon each unit’s arrival, various
residents and community leaders watched in amazement at what the
Nationwide team was able to accomplish. The homes are being sold to
owner-occupied buyers who meet the project’s housing-insecurity
requirements.
Cavco has distribution points in 43 U.S. states
and in Canada, through its 45 retail stores and 26 production
plants, while employing over 6,000 people. In 2021, the Company
delivered over 14,000 homes, provided over $165 million in
financing to homebuyers, insured homes for over 60,000 homeowners
and provided fast and efficient claims assistance to over 5,200
homeowners. Cavco is the third-largest U.S. builder of manufactured
homes, with a 14% share of that market.
Event Details
- What: Grand Opening
– Five Points Neighborhood (Martinsville, Virginia)
- Where: 601 W.
Church St., Martinsville, Virginia 24112 (if using GPS, 619 W.
Church St., Martinsville, Virginia 24112)
- When: Tuesday, May
10, 2022 at 11 a.m. EDT
- Who: Management
from Nationwide Homes and their partners will attend. For interview
requests and photo/video opportunities with Nationwide Homes’
representatives, please refer to Media Contact below.
For more information on Nationwide Homes, visit
nationwide-homes.com; for Cavco Industries, visit cavco.com.
Click to tweet: .@NationwideHms, a
@cavcoindustries brand, to participate in May 10th #grandopening
for Martinsville’s award-winning Five Points Neighborhood
#manufacturedhousing #construction #manufacturing #Cavco #jobs
#hiring; #employment. Visit Nationwide at
https://nationwide-homes.com/.
Media ContactGreg
HickmanMarketing ManagerNationwide Homes
276-692-6352ghickman@nationwidecustomhomes.com
About Nationwide
HomesNationwide Homes has the resources and experience to
build and deliver the HiPerformance modular home you want. From
selecting the plans and features to the finished home, we make
building a modular home easy. Builders looking to improve their
business or homeowners looking to create a home with exactly the
design and features they want, let us show you how easy building a
HiPerformance modular home can
be. https://nationwide-homes.com/.
About Cavco Industries,
Inc.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. Additional information
about Cavco can be found at https://www.cavco.com.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/15e9bd31-80da-48f1-9fef-c8d002276ac3
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