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Habitat asks Aspen to consider partnership on Rifle modular plant, seeks contributions toward $2.5M working capital
Summary
Habitat for Humanity outlined a modular production facility in Rifle to produce about 200 modules annually at roughly $160/sq ft, train workers and supply regional projects; Habitat said bond financing covers equipment but requested contributions toward ~$2.5M in working capital from partner jurisdictions seeking production priority.
Gail Schwartz, adviser to Habitat for Humanity in the valley, and Darla Calloway, Habitat’s new CEO, presented a proposal for a modular production facility in Rifle that Habitat says would produce roughly 200 modules per year, train about 100 students and create approximately 64 jobs.
“we plan to be producing about 200 modules a year starting at, in this next year, about a $160 a square foot, be ultimately producing 64 jobs and training a 100 students a year,” Schwartz said, describing the plant’s projected scale and per‑square‑foot assumptions. Habitat said the site is a leased 10‑acre parcel in the Rifle Innovation Center at a nominal rent ($1 per year for 50 years) and that the plant is designed to meet net‑zero standards and include rooftop solar.
Habitat outlined project finance and an ask for local partners: while bond financing would pay for facility construction and equipment (Habitat reported a ~$19M bond for the building and equipment), the operation requires about $2.5 million in working capital to open the doors. “To open the doors, we need $2,500,000 in working capital. We would love a contribution towards that $2,500,000 of working capital,” Schwartz said.
Councilors probed industry risk, noting a history of modular facilities that failed within five years in other parts of Colorado. Habitat responded that it has engaged national industry experts, engineers and underwriters, hired plant operators with industry experience and structured bond financing to reduce schedule pressure that commonly contributes to failures. Presenters said Habitat had raised about $1.7 million toward planning and consultant costs and temporarily borrowed short‑term funds to bridge capital timing.
Council members expressed interest but did not commit funding; staff and Habitat agreed to follow up with pro formas, detailed underwriting and potential contribution options for jurisdictions seeking priority in the plant’s production.
