New facility will create over 250 manufacturing jobs and produce hundreds of new, high-quality homes each year
April 6, 2023 – AUSTIN, TX – The Amherst Group, LLC (“Amherst” or “Company”), a vertically integrated real estate investment, development, and operating platform, is proud to announce the grand opening of its first StudioBuilt™ manufacturing facility in Cuero, Texas. The grand opening event took place on Wednesday, April 5, and featured a ribbon cutting ceremony, factory tour, and celebratory lunch.
Amherst purchased a closed textile factory in Cuero, Texas in 2021 to launch its first StudioBuilt manufacturing facility. Revitalizing this facility will, at full capacity, create more than 250 manufacturing jobs and produce hundreds of new, high-quality homes each year.
“As a real estate investment, development, and operating platform, we seek to fill unmet consumer demand for affordable, accessible, safe single-family housing across the U.S,” said Sean Dobson, Chairman, CEO, and CIO of Amherst. “Our StudioBuilt homes initiative is a testament to our commitment to identifying innovative solutions to combat the nation’s housing crisis by increasing affordable housing supply in areas of opportunity.”
Amherst’s StudioBuilt homes are prefabricated homes that are constructed in a factory and then installed on a permanent foundation on site. This off-site construction process enables the homes to be completed 50% faster than traditional onsite homebuilding, provides better quality controls during the construction process, and is a more sustainable housing product. These homes offer the same quality, resiliency, code compliance, and amenities of a traditional stick-built home.
“We are thrilled to celebrate the opening of this manufacturing facility as we seek to apply our innovative approach and resources to providing more accessible, affordable, and quality housing for communities,” said Spencer Lindahl, Vice Chairman of Amherst. “We look forward to bringing these high-quality homes to neighborhoods in Texas and nearby states, and we welcome the opportunity to work with local leaders to bring this unique housing solution to their communities.”
Amherst plans to invest over $12 million (USD) in the Cuero factory, which will enable it to produce over 600 new housing units every year. As part of its commitment to solving this nation’s housing supply crisis, Amherst will place hundreds of units produced at this factory in municipalities across Texas and neighboring states annually.
The Amherst Group (“Amherst”) is a vertically integrated real estate investment, development, and operating platform that aims to reimagine some of the most fragmented pockets of U.S. real estate, finding opportunities and inefficiencies in single-family residential, mortgage-backed securities, and commercial real estate markets. Fueled by proprietary technology, deep-rooted expertise, and an agile, collaborative approach, Amherst is transforming a slow-to-evolve industry by creating innovative solutions that seek to disrupt the real estate ecosystem from end-to-end and unlock long-term value for the investors, residents, and communities it serves.
Amherst has around 1,500 employees and currently serves 92,000 residents across the U.S. Today, the Company manages 44,000+ homes across 32 markets in 19 states. To learn more, visit www.amherst.com.
*As of December 31, 2022