GEMZ Corp Subsidiary BadgerBlox Offers Sought After Affordable Housing Solutions for Wisconsin Municipality
GEMZ Corp's subsidiary, BadgerBlox Inc., is set to provide affordable housing solutions to a Wisconsin Municipality using converted shipping containers. The initiative is funded through HUD's Community Development Block Grant (CDBG) Program, which aims to develop viable urban communities by offering decent housing and expanding economic opportunities for low- and moderate-income persons. BadgerBlox specializes in transforming shipping containers into homes, offices, and workspaces. This project is expected to foster a multiple-year partnership, offering quality housing alternatives to the community.
- Approval to bid and accept U.S. governmental contracts enhances business opportunities for GEMZ Corp.
- Collaboration with HUD’s CDBG Program ensures consistent funding and support for the project.
- Provision of affordable housing solutions aligns with market demand for low to moderate-income families.
- Potential for a multiple-year partnership offers long-term revenue and business stability.
- Innovative use of shipping containers differentiates BadgerBlox from competitors focusing on luxury housing.
- Dependence on HUD’s CDBG Program for funding may pose financial risks if grant allocations change.
- Focus on low to moderate-income housing could limit revenue compared to higher-margin luxury markets.
- Potential logistical and regulatory challenges in converting and deploying shipping container homes.
Gillett, Wisconsin--(Newsfile Corp. - June 14, 2024) - GEMZ Corp (OTC Pink: GMZP), a leading innovator in sustainable solutions is pleased to announce that the Company's subsidiary, BadgerBloX Inc., specializing in shipping container conversions, is set to offer affordable housing solutions to a Wisconsin Municipality. The Municipality owns multiple city-owned lots and seeks to develop them and provide affordable housing for its low to moderate income families. BadgerBlox will satisfy this requirement by providing quality container homes for area residents through the Housing and Urban Development (HUD's) Community Development Block Grant (CDBG) Program.
According to the HUD webpage, "The CDBG program provides annual grants on a formula basis to states, cities, and counties to develop viable urban communities by providing decent housing and a suitable living environment, and by expanding economic opportunities, principally for low- and moderate-income persons." The Company recently announced in its May 3, 2024 press release that it received approval to bid and accept U.S. governmental contracts.
Chris Schrubey, CEO and President of BadgerBlox Homes Inc., states, "BadgerBlox is a Company that helps people and that is exactly what we are doing. The administrator of this locale reached out to us to support them in their desire to grow and offer superior yet reasonably priced living solutions for their entire community. We thrive through our ability to transform shipping containers into very affordable homes, portable offices, and workspace containers. Our involvement helps the Municipality attract more people to their community while offering them desired living alternatives and for that I am immensely proud."
"We are embarking on what we hope to be a multiple-year partnership with this Wisconsin community," notes Stephen Carnes, CEO of GEMZ Corp. "While other similar companies only focus on the luxury sector, BadgerBlox takes pride in offering choice solutions for those who do not have a lot of monetary resources. Thanks to HUD's CDBG Program, we can be a provider of choice and offer our containers as permanent domiciles and do something that other companies are unwilling to do. At the same time we are helping both the Municipality and Municipality residents attain a higher living standard. Stay tuned for more exciting information."
Housing containers consist of a 2-3 bedroom, 1 - 2 bathroom design with a basement if possible.
About GEMZ Corporation and BadgerBloX Homes Inc.
GEMZ Corporation is a publicly traded company which trades under the symbol GMZP. BadgerBloX Homes Inc. is a designer and manufacturing converter of container-based living and workspaces. BadgerBloX specializes in affordable, high-quality conversion of containers for use as homes, offices, and other imaginative ready to use spaces.
Visit https://www.badgerblox.com/ for more information.
Follow us on Twitter at: @GEMZCorporation and @BadgerBlox
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a few uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events or otherwise.
CONTACT:
Investor Relations
info@badgerblox.com
SOURCE: GEMZ Corp.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212942
FAQ
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