Salem, Oregon (GLOBE NEWSWIRE) — Earth Gen-Biofuel Inc. (OTC:EGBB) is announcing additions of a new series of homes to production that will include single piece modular homes. As one of America’s premier builders of manufactured homes of under 1000 square feet, the Company is responding to its customers need for modular homes larger than the Park Model floor plans that have accounted for all sales in 2021, and that are still 100% of the 32 homes slated for delivery in the 8 weeks of 2022. The new designs include larger homes built to meet HUD building codes that are still in the company’s “Sweet Spot” for manufacturing homes under 1000 square feet.
Scott DeBo, IHC President stated “In an effort to grow sales and our customer base, we have worked with our clients and home builders to design homes that will serve the needs of community developers for one and two bedroom homes. These homes are intended to meet building codes required by HUD. We believe the new additions to our product line will open up sales opportunities to a broader market. The company has expanded production in our Salem Oregon facilities and is planning on developing new factory locations to support the manufacture of these additional floor plans.”
The new product line includes floor plans from 525 to 900 square feet of interior living space. We expect pricing to range from $90,000 to $120,000 based on the specific residential finish package. These new floor plans are compatible with our other designs in style and finishes. Marketing of the new floor plans fits well into our sales and marketing plans as customers for our current line of Park Model RVs overlaps with the same buyer for the new home designs. Each of these new floor plans can be modified to meet the many regional markets that IHC is serving. The Company’s sales are currently focused in three regions, which include The Pacific Northwest for residential and Recreational Communities, City Living Residential Communities and Southwest Communities in Desert areas. We believe that there is a rapidly growing demand for backyard Accessory Dwelling Units (ADUs) in California, Oregon and Washington.
The company currently markets in three of the key states where legislation has been passed to encourage home owners to add extra living units to their single family properties. The states of Oregon, Washington and California are some of the most aggressive in supporting this market. All three states have enacted legislation that supports the backyard single family addition concept. New regulations change existing zoning to encourage Counties and Cities to will allow single family home owners to add units to their properties to provide more housing where it is needed most in the residential communities that are close to jobs. It is anticipated that these changes will add income opportunities for home owners and provide additional housing inventory in an effort to make housing more affordable by increasing supply.
IHC is still in active discussions with community planners in both the Northeast and Southwest United States. The Company’s 2022/23 marketing plan targets planned development communities, as well as state and local municipalities with plans to address the low-income housing issues facing many of our nation’s larger cities. We are working with these organizations to find solutions to providing affordable housing in communities that have an increasing demand for new houses.