SG Blocks announced that SG Echo, a subsidiary of SG Blocks, has entered into an agreement with SGB Development Corp., the company’s real property development subsidiary focused on market rate multi-family rental housing. This inter-company agreement covers the phased approach of the SG Blocks Magnolia Residential project, which entails roughly 800 units, for a total of approximately $130M anticipated manufacturing revenue for SG Echo. The first phase of this project will consist of 100-150 units. These homes are 1- and 2-bedrooms that are roughly 700-1,200 square feet. The Magnolia Residential project is located on McLean Avenue in Durant, Oklahoma. The property is zoned for roughly 800 market rate multifamily residential housing units.
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Published first on TheFly