Star Equity Holdings, Inc. (Nasdaq: STRR; STRRP) announced that its subsidiary, KBS Builders, Inc. (KBS), has signed a $2.1 million contract for the manufacturing of modular apartments in Vermont. The contract involves the production of 16 modules for three 4-unit buildings in Randolph, Vermont. Manufacturing will begin in February, with delivery expected by the second quarter of 2025.

Rick Coleman, CEO of Star, commented, "We are pleased to announce the signing of another multifamily construction project in Vermont, demonstrating our robust position in the New England commercial construction market, particularly in multifamily housing. KBS has excelled in serving the commercial construction market and has exhibited vast capabilities in other key market segments such as affordable, workforce, energy-efficient, and veteran housing as well as college dormitories."

He further noted, "This win, in addition to the two multimillion-dollar contracts for affordable housing projects in Maine announced in October, give us confidence in the improved market conditions and increased demand for new housing, particularly with respect to large projects. We believe that the improving interest rate environment, our strong backlog and sales pipeline, as well as feedback from our customers, indicate a momentum shift in the marketplace that should continue well into 2025. We believe KBS is well-positioned to capitalize on the opportunities arising from this growing demand.”