Colorado Welcomes Guerdon’s Expansion to Meet Surging Demand for Modular Housing
Colorado, March 6, 2024 – As the demand for housing continues to surge across the United States, Guerdon, LLC is proud to announce its expansion plans for a modular construction factory in Colorado. This marks a significant milestone for Guerdon as it establishes its first manufacturing presence in Colorado, leveraging the state’s proactive stance towards modular construction and a booming housing market.
“In Colorado, the momentum behind modular construction is unmistakable. Projects like the Gauge Apartments in Durango and the Market & Struthers developments in Grand Junction vividly illustrate the transformative benefits of this approach,” stated Tommy Rakes, CEO at Guerdon. “With our pipeline steadily expanding, our decision to establish a second factory underscores our dedication to addressing the growing demand for affordable and efficient housing solutions in the state.”
Since acquiring Guerdon in 2020, Guerdon’s private equity sponsor, Innovatus Capital Partners (ICP), has been committed to leveraging Guerdon’s expertise to establish a multi-plant operation. The announcement of the new factory represents the culmination of extensive internal efforts and is phase one of a multi-phase, multi-year expansion plan. Under the leadership of CEO Tommy Rakes, appointed in July 2022, and an ever-increasing pipeline of projects in the state, Guerdon is poised to embark on this new phase of growth.
“Tommy joined us with the aim of not only optimizing our operations in Boise but also spearheading the establishment of new factories,” expressed Ravi Bhagavatula, Partner at ICP. “His successes in multistate volumetric modular operations (using existing facilities as well as new construction) will be instrumental in accelerating the process once the location is identified.”
Guerdon’s selection for funding from the Colorado Housing and Finance Authority (CHFA) underscores the state’s confidence in Guerdon’s vision and capabilities. Going through the CHFA’s rigorous application process reflects Guerdon’s commitment to excellence and innovation in the modular construction industry.
“The location for our new Colorado facility is still under consideration; we are actively vetting existing buildings that align with our requirements,” added Rakes. “The new facility will serve as a satellite factory, leveraging local talent while benefiting from centralized administration in Boise, which will remain the company’s headquarters for core operations.”
The expansion aligns with Colorado’s broader efforts to address housing shortages and promote economic growth. By creating jobs and delivering high-quality housing units, Guerdon’s expansion contributes to Colorado’s vision of vibrant, sustainable communities.
Guerdon looks forward to continuing its partnership with Colorado and contributing to the state’s housing and economic development goals.
For media inquiries, please contact:
Paul Dille
Marketing Director
Guerdon, LLC
information@guerdon.com
208-345-5100
About Guerdon, LLC:
Guerdon is a pioneering force in modular construction, leading the industry in the production of large-scale multifamily housing and commercial buildings in the United States. Since its inception in 2001, the company has erected over 14 million square feet of buildings, comprising more than 17,000 modules, for housing and hospitality projects spanning the Western United States, Canada, and Alaska. With a projected capacity of 665 housing units annually in Colorado alone, Guerdon is committed to delivering innovative and cost-effective building solutions that redefine the landscape of construction.
– ### –
