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BUSINESS
By Kevin Thomas and Kevin Thomas,Evening Sun Staff | May 15, 1991
The Ryland Group Inc. today announced that it is selling a majority interest in its modular-home operations and certain of its assets to a New York investment banking firm.The purchaser will be a new entity formed by the investment firm, Nagelvoort & Co. Inc., which approached Ryland, said Nancy L. Smith, a spokeswoman for Ryland.The companies refused to disclose the amount of the transaction, which is expected to be completed next month.James D. Umland, a director at Nagelvoort, said that the company's strategy is to gain a presence in the modular-home market in the Northeast following the purchase of a Northwest manufacturer.
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By Marie Marciano Gullard, Special to The Baltimore Sun | April 8, 2011
From the sidewalk in front of the Butchers Hill home of Jay Rubin and Frank Mondimore, a reminder unique to Maryland sport gives passers-by pause. Stubby and banged-up duckpins, alongside shiny bowling trophies, line the sills inside of two street-level windows. Next to that hometown image, a flower urn sits on a concrete slab in front of double oak doors, their arched windows reflecting the corner grocery store across the street. The brick exterior looks new, providing a clue that this house is a relatively recent arrival to the block.
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BUSINESS
By Kevin Thomas and Kevin Thomas,Evening Sun Staff | May 16, 1991
Although the Ryland Group is selling a majority interest in its modular-home operations, little will change initially for the division, officials said.Created in 1982, when Ryland built a $3.5 million manufacturing plant in Cecil County, the modular-homes unit today has a second plant in Fredericksburg, Va., and employs about 180.Its employees, who are spread among the two plants and the division's Columbia headquarters, will remain with the division despite its pending sale to a New York-investment banking firm.
BUSINESS
By McClatchy-Tribune | March 8, 2009
Many in the building industry see the housing market's troubles as a disaster. Russell Versaci sees them as an opportunity. Versaci, an architect from Middleburg, Va., thinks the economy is finally forcing a halt to the spread of bloated McMansions. He's leading a movement toward smaller, well-built homes that honor our country's architectural roots - houses that are not only sensible and affordable, he said, but "that have a sense of belonging." He calls his proposal "The Pennywise House."
BUSINESS
By McClatchy-Tribune | March 8, 2009
Many in the building industry see the housing market's troubles as a disaster. Russell Versaci sees them as an opportunity. Versaci, an architect from Middleburg, Va., thinks the economy is finally forcing a halt to the spread of bloated McMansions. He's leading a movement toward smaller, well-built homes that honor our country's architectural roots - houses that are not only sensible and affordable, he said, but "that have a sense of belonging." He calls his proposal "The Pennywise House."
BUSINESS
By Christopher Wolfe and Christopher Wolfe,CONTRIBUTING WRITER | January 11, 1998
For Larry and Joan Underriner, it took just about 10 hours for their dream to become a reality.Imagine seeing the first nail of your new home hammered during breakfast and by dinner most of the home was in place.Impossible? Not for the Underriners, who saw their modular home come together block by block a little more than four years ago.At 7 a.m. on a February morning in 1993, the two of them stood shivering next to their 3,600-foot foundation on a hill that overlooked the woods of Hashawha recreational park in Westminster.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | April 13, 1997
A Delaware modular-home builder expects to complete this week the purchase of a plant in New Windsor, which could bring 350 jobs to Carroll County.MISTCo, a new corporation based in Greenwood, Del., is meeting with the plant owner tomorrow and expects to settle on the purchase of the site on Route 31. The Carroll facility would be the company's first plant.The purchase, reportedly for about $5 million, could bring jobs paying $9.50 an hour. MISTCo's owners envision a three-shift operation that would manufacture several hundred homes a month.
BUSINESS
By Bloomberg Business News | June 14, 1992
WASHINGTON -- Schult Homes Corp. of Middlebury, Ind., filed with the Securities and Exchange Commission to sell about $20 million of common shares to the public.The company, the nation's oldest producer of factory-built homes, filed to sell 1.45 million common shares.Schult Homes will use the proceeds to expand its production and sale of modular homes and possibly to develop a consumer financing capability, the company said.
BUSINESS
By Patricia Rivera and Patricia Rivera,SPECIAL TO THE SUN | May 11, 2003
Along an old street in Mount Washington, Jim and Betsy Slattery built a spacious home with a stone porch, a bright conservatory and other gracious details that helped it blend in with the surrounding architecture. Best of all, some neighbors would argue, the heavy construction work was done in one week. The Slatterys are among the growing number of recent homebuyers who have created their dream homes with modules made in factories and assembled on land they purchased. The $500,000 home was built in November 2001.
BUSINESS
January 31, 1992
Regional Building Systems has been awarded a $43 million contract to build 1,000 modular homes for the Navy on Staten Island in New York City.The modular houses will be manufactured at the company's plants in North East and in Fredericksburg, Va.The contract calls for Regional Building Systems to make the houses and assemble them at the Navy base.The buildings will be 90 percent complete when they arrive for placement on foundations at the site.Keith Sholos, a spokesman for Regional Building, said the company will produce about 60 homes a month for the project.
BUSINESS
By JUNE ARNEY and JUNE ARNEY,SUN REPORTER | February 19, 2006
As the rising sun bathed the Chesapeake Bay, a 110-ton crane sat poised over a wheeled chassis holding part of a house. Slowly a 14-by-36-foot module swung into the air, its four oversized French doors glittering in the light. Suspended from four cables, it dangled for a time before being lowered onto the foundation of what would become a luxury waterfront home by day's end. By 11:15 a.m., the first floor was nearly done. Warily, workers, builders and a small crowd of onlookers eyed thickening clouds on a day that had been forecast to be clear.
NEWS
By Kathryn Hansen and Kathryn Hansen,Baltimoresun.com Staff | September 17, 2004
Lt. Gov. Michael S. Steele is scheduled to visit with the first Tropical Storm Isabel victims to receive a replacement modular home on Monday in Dorchester County. Steele and state Department of Housing and Community Development officials are to present the Mowery family with a check to help cover the cost of their new home at 2512 Old House Point Road on Hooper's Island. The money comes from the $7.5 million Gov. Robert L. Ehrlich Jr. appropriated for the victims of the September 2003 storm.
BUSINESS
By Susan L. Towers and Susan L. Towers,SPECIAL TO THE SUN | March 28, 2004
BETHANY BEACH, Del. - Bethesda resident Jean Holland's dream of owning a home by the ocean had been fueled by the decades she and her family had vacationed in Bethany Beach. It was a dream she never thought would come true. "Then, I made some money in the stock market, and my aunt left me some," recalled Holland, who retired last year after 22 years working for Talbots Inc. "My financial consultant told me to go ahead and follow my dream." Knowing the importance of staying within a budget, Holland knew she couldn't afford an oceanfront home.
BUSINESS
By Patricia Rivera and Patricia Rivera,SPECIAL TO THE SUN | May 11, 2003
Along an old street in Mount Washington, Jim and Betsy Slattery built a spacious home with a stone porch, a bright conservatory and other gracious details that helped it blend in with the surrounding architecture. Best of all, some neighbors would argue, the heavy construction work was done in one week. The Slatterys are among the growing number of recent homebuyers who have created their dream homes with modules made in factories and assembled on land they purchased. The $500,000 home was built in November 2001.
BUSINESS
By Charles Belfoure and Charles Belfoure,SPECIAL TO THE SUN | March 22, 1998
"You don't have to tell anyone.""I'm not embarrassed at all," Vanessa Freter replied when her friend suggested that she didn't have to reveal that her new home was actually a modular house.Vanessa and husband Robert Freter's three-bedroom home in Finksburg is an excellent example of the level of design quality now found in modular construction.The Freters originally planned a stick-built home, but changed their minds when they saw a modular."I was shocked when they told me it was a modular," she said.
BUSINESS
By Christopher Wolfe and Christopher Wolfe,CONTRIBUTING WRITER | January 11, 1998
For Larry and Joan Underriner, it took just about 10 hours for their dream to become a reality.Imagine seeing the first nail of your new home hammered during breakfast and by dinner most of the home was in place.Impossible? Not for the Underriners, who saw their modular home come together block by block a little more than four years ago.At 7 a.m. on a February morning in 1993, the two of them stood shivering next to their 3,600-foot foundation on a hill that overlooked the woods of Hashawha recreational park in Westminster.
BUSINESS
By JUNE ARNEY and JUNE ARNEY,SUN REPORTER | February 19, 2006
As the rising sun bathed the Chesapeake Bay, a 110-ton crane sat poised over a wheeled chassis holding part of a house. Slowly a 14-by-36-foot module swung into the air, its four oversized French doors glittering in the light. Suspended from four cables, it dangled for a time before being lowered onto the foundation of what would become a luxury waterfront home by day's end. By 11:15 a.m., the first floor was nearly done. Warily, workers, builders and a small crowd of onlookers eyed thickening clouds on a day that had been forecast to be clear.
NEWS
February 6, 1992
What on earth is Keith Anthony, a one-time builder of custom homes in Anne Arundel County, doing in Poland?The answer is not only interesting but shows that America's deep recession provides great opportunities to those who are imaginative.When the bottom fell out of the upscale new-homes market, Mr. Anthony closed his Stevensville business and decided that money could be made in post-communist Poland. He is now turning out factory-built homes from a warehouse on Maryland's Eastern Shore and shipping them to Poland.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | April 13, 1997
A Delaware modular-home builder expects to complete this week the purchase of a plant in New Windsor, which could bring 350 jobs to Carroll County.MISTCo, a new corporation based in Greenwood, Del., is meeting with the plant owner tomorrow and expects to settle on the purchase of the site on Route 31. The Carroll facility would be the company's first plant.The purchase, reportedly for about $5 million, could bring jobs paying $9.50 an hour. MISTCo's owners envision a three-shift operation that would manufacture several hundred homes a month.
NEWS
By Mary Gail Hare and Mary Gail Hare,SUN STAFF | April 3, 1997
A Delaware company is eyeing an industrial building in New Windsor for a modular-home plant that would create 350 jobs in Carroll County.MISTCo, a newly formed corporation based in Greenwood, Del., hopes to build modular homes at an undisclosed site on Route 31. The plant would ship the finished structures, which would include everything from light fixtures to carpeting, to international markets through the port of Baltimore.Nearly all the homes would be sent overseas, and the company's interest in Carroll County is predicated on railway access to the port.
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