Manufactured Housing Builder Brings Jobs and Affordable Homes to Texas Community
One Texas community understands the value of a vibrant workforce and manufactured housing.
On Tuesday, the Waco City Council and McLennan County Commissioners Court approved an $850,000 economic development package for Jessup Manufactured Housing, LLC.
Experienced Owner to Bring Hundreds of Manufactured Housing Jobs to Waco
David Jessup, a former employee of Clayton Manufactured Homes for the past 2 decades, will establish Jessup Manufactured Housing where Patriot Homes once built their manufactured homes.
Conveniently located off West Loop 340, south of Waco, the manufactured home builder anticipates hiring 150 new employees by the end of 2018. The company also projects it will be staffed by roughly 200 full-time employees, and that it will be operating at full capacity by 2020.
After a $1.25 million-dollar build out, Jessup will “build single wide homes of less than 1,200 square feet for shipment to independent retailers in Texas, Louisiana, Oklahoma, Colorado, Arkansas and potentially Mississippi – with an estimated retail price of approximately $45,000-$49,000,” according to the Waco Tribune.
New Business Promises More Affordable Housing for Entire Region
In the city of Waco, the current median list price of a home is $155,000 or $93 per square foot. This is a tough price point for many entering the real estate market for the first time. Jessup explained, “our target market is first-time homebuyers who have grown tired of paying rent.”
A real benefit for Waco’s first-time home buyers, Jessup will offer their new manufactured homes for sale at approximately half of what a traditional site-built home would cost to build, roughly $40 a square foot. At this price, the company should be able to offer homeownership to a great many individuals and families who had thought it out of reach.
Jessup’s mission to provide affordable homes to hardworking folks who are struggling to enter today’s restrictive housing market should prove to be a beautiful thing for Waco, Texas and a considerable area of the country that surrounds it.
