Fully developed cost of an ERC MHR community is approximately 60% to 70% of the cost of a conventionally built single family home community
Direct material and labor costs lower as they are factory-built
Land allotment is approximately 1/3 less than what is needed in conventionally built homes
Speed To Revenue
Horizontal” nature of land development and construction (underground, paving, and landscaping only), makes sites available sooner
Homes can be moved into the community faster, and in groups
Homes are made available for rent sooner
ERC anticipates that most homes will have lease contracts in-place prior to being transported to the community
Once homes are set up, rent collection can immediately commence
ERC projects 100% occupancy of its developments that are 100 units or smaller within 12 months
ZONING & ENTITLEMENTS
ERC’s MHR communities will be developed outside of core urban areas where higher and better uses of land are more likely, resulting in lower land costs and faster entitlement processes
According to surveys, monthly rent savings of $1,000 is worth as much as 15 to 20 minutes of additional commute to renters
ERC will seek entitlement of land that is “a bit further out” and not in competition for higher zoning uses
The ERC development team will ensure that proper zoning and entitlements can be achieved before acquiring land for new development
AFFORDABILITY
The KEY to the ERC MHR platform strategy is to address the strongest and broadest market demand
Focus on extensive need for separate family living in 3-bedroom / 2-bathroom homes approximating 1,400 square feet
Homes that are affordable for entry-level families
Of particular concern in the in-migration states of the Southeast, where single-family home prices and rental levels are increasing materially
Approximate $1,000 / month savings afforded in ERC’s MHR communities allow for a broader, deeper market of potential renters
