GREAT NECK, NY / ACCESSWIRE / May 15, 2018 / Universal Power Industry Corporation (OTC PINK: UPIN) has acquired a 30 acre tract of land with an option to acquire an adjoining additional 10 acre tract that also includes a habitable dwelling.
The company anticipates that it will exercise its option for the additional 10 acre tract plus dwelling within the next 90 to 120 days, with the completed acquisition of both tracts the company will then control 40 acres, with the intent of developing a single-family entry level home subdivision.
Currently, the township zoning allows for 2 acre lots, however, the company plans to apply with the township and other required governmental agencies to rezone the property for ½ acre lot zoning, thus increasing the buildable lots from approximately 15 to 60 for entry-level homes.
About the property: The location is Windham, Maine just about 10 minutes outside of Portland where the current average entry-level home price is $175,000.00. The demand for this area is multifaceted, the primary reason being, the Maine Medical Center (12 minutes away) has committed to a $500,000,000 expansion (its largest ever) per Mainebiz January 9, 2017 and Portland Press Herald ''State approves Maine Medical Centers plan for $512,000,000 expansion," renovation beginning in 2018 and be done in 2022.
The desirable environment is favored by millennials for work opportunities, and seniors for quality of life, the cruise ship industry has recently recognized the Victorian styled Portland harbor which just adds to desirability of the area and demand for additional new entry-level housing. The State is currently enjoying the lowest unemployment rate in 60 years.
Updates will be provided of the progress throughout the company's social media pages Twitter and Facebook, OTCMarkets news and mainstream newswire services.
Further information regarding the company's business and objectives going forward can be obtained at www.upinholdings.com or by email at [email protected].
About Universal Power Industry Corporation:
Universal Power Industry Corporation (UPIN) is a diversified holding company that own(s), invests and or manages select businesses and real estate, and on special opportunities will provide financing solutions to companies at various developmental stages. Our business objectives cover a wide range of sectors from consumer/industrial products and technology research and development/startups. We combine capital, innovation and the right management to deliver top of the line products and services to our customers globally.
Statements contained in this release, other than those identifying historical facts, constitute ''forward-looking statements'' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
CONTACT INFORMATION
Universal Power Industry Corporation
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1.800.837.5641
SOURCE: Universal Power Industry Corporation