Business
Nationwide Homes to Participate in May 10th Grand Opening of Martinsville’s Award-Winning Five Points Neighborhood
The “Community Impact Project of the Year” aims to create opportunities for families that otherwise may not be able to achieve the dream of home ownership
About this update from Cavco Industries, Inc.
[{"type":"text","content":"The “Community Impact Project of the Year” aims to create opportunities for families that otherwise may not be able to achieve the dream of home ownership\nMARTINSVILLE, Va., May 05, 2022 (GLOBE NEWSWIRE) -- Nationwide Homes, a brand of Cavco Industries, Inc. (Nasdaq: CVCO) (“Cavco” or the “Company”), announced today that it will participate in the upcoming grand opening, on Tuesday, May 10, of the Five Points Neighborhood Initiative in Martinsville, where its own manufacturing facility is based. Last month, Cavco won the Manufactured Housing Institute’s (MHI) inaugural “Community Impact Project of the Year” award (2022) for this project. This award, voted on by a panel of independent manufactured home industry experts, recognizes homebuilding company efforts to address social challenges or underserved needs at the local level. “The success of the Five Points Neighborhood Initiative is a shining example of industry partnering with community leaders to make a significant and beneficial impact on the lives of our fellow citizens,” said Donald Aheron, President of the Nationwide Homes division of Cavco. “We are extremely proud to be an integral part of this worthwhile project that seeks to revitalize a community – right in our own hometown.” Nationwide Homes partnered with a diverse list of local, state and national organizations to build the Five Points neighborhood. In addition to Nationwide, this unique coalition of public and private entities included Virginia Housing, City of Martinsville, USDA-Rural Development, Silverpoint Homes – Nationwide’s top independent retailer, Martinsville-Henry County Economic Development Corporation, United Way of Henry County & Martinsville, and The Harvest Foundation. Together, this dedicated team committed copious amounts of time, manpower and resources to revitalize this underdeveloped area with homes to be sold to owner-occupied buyers meeting the project’s housing-insecurity requirements. Each home has a five-year deed restriction requiring owner-occupancy. The Five Points project comprises homes designed to be starting points to help alleviate housing challenges that many families face. Specifically, the focus of the project is to provide new housing that’s affordable for individuals earning in the $17-to-$20-per-hour range – somewhere close to the prevailing wage rate for local business an...