ABODA DESIGN INC. OPENS NEW MODULAR HOUSING FACTORY IN COLORADO WITH PROPOSITION 123 FUNDING

Supported by the State of Colorado and CHFA, Aboda Partners with Developers, Builders, and Municipalities to Deliver Multi-Unit Housing Projects Using Advanced Prefabricated Methods

COLORADO SPRINGS, Colo., Dec. 19, 2024 /PRNewswire/ -- Aboda Design Inc., a trailblazer in prefabricated housing construction, is thrilled to announce the opening of its pioneering housing factory in Pueblo, Colorado. This groundbreaking facility, Aboda Pueblo is powered by a $4 million loan through Proposition 123 from the Colorado Housing and Finance Authority (CHFA), underscoring Colorado's commitment to affordable housing innovation. This state-backed funding will fast-track Aboda's ability to deliver high-quality, cost-effective homes, meeting the urgent housing demands across the state. The Pueblo factory will open its doors within 30 days, with full-scale production slated for the first quarter of 2025.

"There is no one solution to solve our housing shortage which is why we are investing in many different ways to build more housing, including innovative modular solutions. Thanks to Prop 123 funds, companies like Aboda will use innovative solutions to create more housing that Coloradans can afford, strengthening our communities and saving families money," said Colorado Governor Jared Polis.

Proposition 123, passed by Colorado voters, champions sustainable solutions to the housing crisis, targeting initiatives that expand affordable housing stock through cutting-edge construction methods. Aboda's Pueblo factory is primed to fulfill these ambitious goals, equipped with advanced preconstruction and virtual design, AI-enabled project management and advanced panelized and modular capabilities.

"I'm thrilled Aboda has chosen downtown Colorado Springs for its corporate headquarters," said Colorado Springs Mayor Yemi Mobolade. "One of my five strategic priority areas is housing solutions, and I am committed to implementing policies, fostering partnerships, and securing funding to increase housing supply and choices so that residents have options that are right for them. Aboda is committed to quality products that are within reach, and we share a common vision for innovative offsite construction methods that will help meet the growing housing needs in our city."

Aboda's prefabricated approach offers a unique advantage to its customer: the ability to achieve aesthetic diversity in multi-unit projects while dramatically reducing budget and schedule risk. The Pueblo facility is designed to manufacture a broad spectrum of residential and mixed-use structures, each tailored to client needs and adapted to support various architectural styles and environmental standards. "CHFA's vision and support through Proposition 123 fuels our mission to redefine housing possibilities across Colorado," said Fedja Jovanovic, CEO of Aboda Design, Inc.: "By providing builders, developers, and municipalities with streamlined, prefabricated solutions, we're bringing a new era of housing to the state."

Aboda Pueblo has a flexible portfolio of floor plans that serve the diverse needs of Colorado's communities. Clients are guided by Aboda Pueblo's experienced project management team with a four-step process that is enabled through an advanced virtual design model. With its new corporate office in Colorado Springs, Aboda Pueblo offers a hub for clients to engage directly in the design process and experience the company's commitment to quality and service.

About Aboda Design, Inc.
Aboda Design is transforming Colorado's housing landscape with innovative modular construction. Backed by Proposition 123 funding from CHFA, Aboda is delivering sustainable, high-quality homes at a pace that meets the state's urgent housing demands. Partnering with BiltWise Structures, Inc., a seasoned modular manufacturer with facilities in South Carolina and New Mexico, and The Challenger Group, a respected developer in El Paso County, CO, Aboda is leading the charge in affordable housing solutions across Colorado.

SOURCE Aboda Design, Inc.