Old Greenwich, CT – October 2, 2024 - Star Equity Holdings, Inc. (NASDAQ:STRR, STRRP))))) ("Star" or the "Company"), a diversified holding company, announced today that its wholly owned subsidiary, KBS Builders, Inc. ("KBS"), has signed two contracts totaling $4.6 million to manufacture 40 modules for the construction of cottages and affordable housing units in Maine.

Contract details are as follows:

• $3.0 million contract to manufacture 32 modules for the construction of 15 one- and two-story cottages in Northeast Harbor, Maine. Manufacturing of these modules commenced in September, with delivery to be completed by December; the cottages are expected to be ready for occupancy by Spring 2025.
  
  • $1.6 million contract to manufacture 8 modules for the construction of two multi-story buildings comprising 16 affordable housing units in Newcastle, Maine. Manufacturing of these modules is expected to commence in October, with delivery to be completed by December; the housing units are expected to be ready for occupancy by Spring 2025.