Tuesday, May 24, 2016

Keiser Homes Closing Disrupts Farmington, Maine Housing Complex Renovation

The developers of 82 High Street, an affordable housing complex, have to find another modular home manufacturer to complete the project.

An article from from Centralmaine.com

An affordable housing complex in Farmington, Maine is searching for alternative modular building manufacturers to complete planned renovations after manufacturer Keiser Homes closed recently.

The developers of 82 High Street, a nonprofit affordable housing complex, had planned on buying three modular apartment buildings from Oxford-based Keiser Homes, but with the company’s abrupt closing earlier this month, the complex’s board of directors will review proposals from three other companies in order to stay on track with the project.

The board of directors met Thursday with representatives from Cousineau Inc. of Wilton, the Keiser Home dealer and construction company that was overseeing the construction of the 82 High Street development.

While 82 High Street had already put a deposit down on the three modular buildings, Cousineau, which has filed a lawsuit in an attempt to get the deposit back, has promised to absorb the cost of the deposit if it’s not repaid, said Rachel Jackson Hodson, the manager of 82 High Street.

“We’re the ones taking the loss,” Randy Cousineau, president of Cousineau Inc., said Monday. “We’re going to honor the original contract.”

Jackson Hodson said the directors will meet again this Thursday with Cousineau representatives to review three proposals from other modular home companies.

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Anonymous said...

The effects from this bankruptcy will be felt for a long time. I hope someone files a lawsuit agoanst the top people of IBS. They had to know they were going to file bankruptcy a long time ago and contunued to take deposits from builders.

Anonymous said...

The management team from Excel Homes did a wonderful job of destroying a wonderful company, Keiser Homes. They repeatedly lied to the employees all the while knowing what was inevitable. Shame on all of them. Over 100 dedicated people out of work. Please don't ever come back to New England.