ATLANTA–(BUSINESS WIRE)–Atlanta-based EcoVest Capital and Place Properties announce the formation of Impact Housing Group. Impact Housing is the country’s first fully integrated, volumetric modular company. Its mission is to provide a solution for affordable homes for America’s working families.
Among the most pressing social needs in the country is to provide attainable housing close to where people work and want to live. As a critical step toward that goal, Impact Housing has acquired a facility in Baxley, Georgia. This facility will be able to assemble 50+ affordable single-family homes per month. At that level of production, the plant will generate 170 new, living-wage jobs. The location of the facility allows Impact Housing to serve the southeastern market. In addition, Impact Housing is under contract to build another volumetric modular plant in Oconee, South Carolina, with plans to build a third plant, beginning in Q4 of 2022.
Cecil Phillips, former executive assistant to the governor of Georgia and past chair of Atlanta Housing, has been named president and CEO of Impact Housing. Phillips has a highly successful track record providing affordable housing for students, armed forces, and working families. According to Phillips, “Beginning in the Southeast and expanding throughout the country, Impact Housing will provide top-rated, quality-engineered and designed housing to serve communities which are frustrated by the deficit of affordable housing for working families. We will provide affordable housing to these markets by developing communities, as well as by selling homes to third-party owners and developers.”
Alan Solon is Chairman and CEO of EcoVest Capital, Inc., an Atlanta-based real estate investment management company and serves as chairman of Impact Housing Group. As CEO of EcoVest, Solon is focused on Environmental, Social and Governance (ESG) pertaining to sound real estate investment and development ventures. “For many working-class families,” says Solon, “inventory is extremely limited for new, affordable, high-quality homes for purchase in the neighborhoods where they work and live. The goal of Impact Housing is to provide an answer to the largest problem in this sector, making attractive, well-constructed homes attainable for these families.”
It’s Phillips’ and Solon’s shared belief that attainable housing can become a reality in the Missing Middle by revolutionizing volumetric modular housing into modern day solutions that families will be proud to live in and call home. Phillips and Solon also believe that you don’t have to sacrifice design and quality for profit. Impact Housing’s manufactured homes are assembled inside the plant then delivered to the site, reducing the time and costs of each home. With no major improvements in efficiency, productivity, or costs in the housing industry in more than 50 years, Phillips and Solon decided to launch Impact Housing where their experience and expertise will yield a viable solution to the housing crisis in the U.S.