FORT LAUDERDALE, Fla., Aug. 7, 2012 (SEND2PRESS NEWSWIRE) -- Second Street Capital, Inc., has joined forces with NeoPod Systems, LLC to provide builders with tools to help them bring quality affordable housing to the market in order to answer the housing needs of communities across the U.S. as well as many areas throughout the world. In order to demonstrate the NeoPod system, Second Street Capital plans to begin construction of a model home in Fort Lauderdale later this year.
Second Street Capital, Inc. intends to finance projects utilizing NeoPod Systems' modular, factory built bathrooms and kitchens. These modular units can be easily customized and integrated into the design build process.
Chuck Ermer, CEO of NeoPod Systems, LLC explains, "Builders using the NeoPod System will gain a significant competitive advantage due to the fact that they can deliver projects in shorter time frames with less cost variability while at the same time providing a higher quality product at more affordable prices. In addition, Second Street Capital can provide project financing and oversight that minimizes cash flow risk and allows builders to quickly complete their projects and grow their businesses."
The NeoPod System consists of factory built, modular components (bathrooms, kitchens) ideally suited for multi-family projects, medical clinics, hospitals, dormitories and military barracks. These units are produced in a controlled environment utilizing state of the art equipment (CNC machines) and processes. The modular units include all framing, MEP connections, finishes (tile, paint, wallpaper, accessories), and fixtures (lavatories, water closets, showers, faucets, lights, electrical devices) combined as a complete unit. Once delivered to the jobsite, the units are easily integrated to the building's onsite structure and services.
Kyle Meyer, CEO of Second Street Capital, Inc. states "We have looked at several modular manufacturers and decided that the NeoPod System was a home run, due to the fact that it's simple plug and play connection method can quickly and easily be installed into the main structure while the main structure is built on-site. NeoPod's units can be integrated into a variety of building structure types including poured concrete, masonry block, steel frame, SIP panels, tilt up, tunnel form or wood frame construction. By having the wet area components completed in a factory controlled environment and delivered to the job site as a complete unit, construction time is greatly reduced, construction costs are clearly defined, the quality of the finished product is ensured and the possibility of weather damage, vandalism or theft is minimized, all of which helps reduce construction time and helps us mitigate our investment risk."
About Second Street Capital:
Second Street Capital, Inc. (www.secondstreetcap.com) is a specialty finance company that specializes in making revenue participation loans and investments for real estate and global trade finance to small and medium size businesses and entrepreneurs. Headquartered in Ft. Lauderdale, Florida the company helps facilitate the flow of capital to community-based companies to support job growth, share prosperity and increase the local tax base.
About NeoPod Systems:
NeoPod Systems, LLC, (www.neopodsystems.com) is a manufacturing company, providing prefabricated bathroom, kitchens and other interior modules for hospital, multi-family, military, student and healthcare housing needs. Headquartered in Sunrise, Florida with manufacturing operations in San Antonio, Texas, NeoPod supplies its modular units to projects across the Unites States.
NeoPod Systems helps its construction partners reduce overall construction time, provide higher quality products and generate higher project returns.
Certain information included in this press release may contain forward looking information that is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results. Among these risks, trends and uncertainties are SSCI's ability to raise capital, risks associated with SSCI's new business plan, national and local economic conditions, including conditions in the homebuilding and construction industry, conditions and trends in the real estate industry in general, changes in interest rates and other factors.
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