North Charleston Entrepreneur Adds Lice Treatment to Business Portfolio

North Charleston Entrepreneur Adds Lice Treatment to Business Portfolio Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

North Charleston, South Carolina, Feb. 21, 2018 (GLOBE NEWSWIRE) — Joe Hinkley owns a real estate business, an IT services company, and volunteers for Habitat for Humanity all over the world, and when his business partner’s daughter couldn’t beat head lice, his business mind went into action.“My business partner told me he had to take his daughter to a lice clinic for a treatment,” Joe said. “I had never heard of such a thing so I Googled it.”“The more I looked into the head lice treatment options, the more interested I became,” Joe said. “I was struck by just how big a problem this is. But the good news was that technology had finally caught up to the issue.”Joe opened Lice Clinics of America – North Charleston (http://www.liceclinicsnorthcharleston.com) to provide screening, diagnosis and treatment options for people infested with head lice. The clinic is staffed by certified operators of the AirAllé device, an FDA-cleared medical device that kills head lice and lice eggs (nits) in a single session using controlled heated air.“With the incredibly busy lives active parents and children live today, the demand for a clinically proven, medically sound, FDA-cleared device is huge,” Joe said “The AirAllé gets everyone back to living their lives in a few short hours and is the fastest, safest, and most effective way to treat lice.”The North Charleston clinic is located at 3640A Ashley Phosphate Road, and is open seven days per week, by appointment. AirAllé treatments take a little more than an hour and come with a 30-day guarantee when all family members are treated or screened for head lice.With more than 300 clinics in 34 countries, Lice Clinics of America (www.LiceClinicsOfAmerica.com) is the largest network of professional head-lice-treatment centers in the world. Lice Clinics of America and AirAllé (www.airalle.com) are brands owned by Larada Sciences, Inc., which is headquartered in Salt Lake City, Utah.Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b6ca7aef-edb8-4aa4-8e75-0ae701018f91Joe Hinkley
Lice Clinics of America
843-494-9208
joe@liceclinicsnorthcharleston.com

Surrey Bancorp Announces First Quarter Cash Dividend of $0.095 per Common Share

Surrey Bancorp Announces First Quarter Cash Dividend of $0.095 per Common Share Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

MOUNT AIRY, N.C. , Feb. 21, 2018 (GLOBE NEWSWIRE) — The Board of Directors of Surrey Bancorp (“the Company”) (Pink Sheets:SRYB) has declared a quarterly cash dividend of 9.5 cents ($0.095) per share on the Company’s common stock. The cash dividend is payable on April 10, 2018, to shareholders of record as of the close of business on March 23, 2018. The Company has paid seven consecutive special annual dividends. This is the first quarterly dividend payment announced by the Company. Ted Ashby, President/CEO of Surrey Bancorp, stated the dividend was based on the Company’s current operating results, its strong financial condition and a commitment to delivering shareholder value.Surrey Bancorp is the bank holding company for Surrey Bank & Trust (the “Bank”) and is located at 145 North Renfro Street, Mount Airy, North Carolina. The Bank operates full service branch offices at 145 North Renfro Street, 1280 West Pine Street and 2050 Rockford Street in Mount Airy. Full-service branch offices are also located at 653 South Key Street in Pilot Mountain, 393 CC Camp Road in Elkin and 1096 Main Street in North Wilkesboro, North Carolina and 940 Woodland Drive in Stuart, Virginia. Surrey Bank & Trust is engaged in the sale of insurance and provides full-service brokerage and investment services through its wholly owned subsidiary Surrey Investment Services, Inc. The insurance division, dba SB&T Insurance, is located at 199 North Renfro Street in Mount Airy. The brokerage division which operates through an association with LPL Financial, is located at 145 North Renfro Street in Mount Airy.Surrey Bank & Trust can be found online at www.surreybank.com.For additional information, please contact
Ted Ashby, CEO, or Mark Towe, CFO         
(336) 783-3900
 

PHOTO RELEASE–Huntington Ingalls Announces Two Senior Leadership Changes

PHOTO RELEASE--Huntington Ingalls Announces Two Senior Leadership Changes Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

NEWPORT NEWS, Va., Feb. 21, 2018 (GLOBE NEWSWIRE) — Huntington Ingalls Industries (NYSE:HII) announced today that Michael Smith, executive vice president, strategy and development, is moving to HII’s Technical Solutions division, where he will serve as president of the SN3 business and report to Michael Lempke, president of the Nuclear & Environmental group, effective immediately. The company also announced that Scott Stabler, executive vice president, internal audit, is moving into a new role as HII’s executive vice president and chief transformation officer, reporting to Mike Petters, HII’s president and CEO.
“Mike has excelled in a variety of leadership positions since joining HII,” Petters said. “I am confident his experience—including his time leading corporate development of HII’s nuclear and environmental services before the creation of Technical Solutions—will build on SN3’s legacy and leverage the full complement of HII’s expertise for additional nuclear and environmental work, which we see as our largest growth opportunity.”Smith joined HII in 2014 as corporate vice president, business growth. In January 2015, he was named vice president, corporate development, nuclear and environmental services, where he was responsible for executing the growth strategy in commercial and government nuclear markets. In 2016, he became HII’s executive vice president, strategy and development. Before joining HII, Smith worked for BAE Systems, where he served as sector vice president, business development, strategy and planning, for the Support Solutions sector. He is a graduate of Stanford University, where he earned a bachelor’s degree in industrial engineering and a master’s in engineering management.With this management change, HII’s strategy and development team will move back to business management, reporting to Chris Kastner, executive vice president, business management, and chief financial officer.In his new role, Stabler will work directly with HII’s divisions to assess and facilitate implementation of the transformative business model and process changes necessary to meet rapidly evolving customer demands. The scope is open-ended but will initially focus on HII’s digital, technological and supply chain strategies.“Scott has been an integral part of HII’s success since we formed in 2011 and of Newport News Shipbuilding for more than 25 years,” Petters said. “The breadth and depth of his experience in engineering, program management, supply chain management and business development—as well as his perspective from leading corporate’s operations—make him the ideal candidate to lead the transformation effort.”Stabler joined Newport News Shipbuilding in 1984 and has held progressively responsible positions in engineering, purchasing, business development and program management. He was appointed vice president of assembly in 1999 and vice president of aircraft carrier construction in 2000. He was directly responsible for program management and construction of the last Nimitz-class aircraft carrier, USS George H.W. Bush (CVN 77), from the contract award in 2001 until successful builder’s sea trials in 2009. He went on to serve as vice president of supply chain management and was vice president of corporate operations during HII’s stand-up as an independent business in 2011. He was named HII’s chief audit executive in 2013. He earned a bachelor’s degree in mechanical engineering from North Carolina State University and a master’s degree in business administration from the College of William and Mary.Stabler will continue to lead Internal Audit until a replacement can be identified.Photos of Smith and Stabler are available at: https://newsroom.huntingtoningalls.com/releases/leadership-smith-stabler.HII Technical Solutions is a professional services business providing solutions to a variety of government and commercial customers worldwide. The division was formed in December 2016 when HII acquired Camber Corp. and combined it with HII’s existing services subsidiaries, including AMSEC, Continental Maritime of San Diego, Newport News Industrial, SN3, Undersea Solutions Group and UniversalPegasus International. Technical Solutions provides fleet maintenance and modernization, unmanned solutions and rapid prototyping, agile software development and network engineering, training systems, logistics support, nuclear engineering and fabrication, and oil and gas engineering. Technical Solutions employs more than 5,000 people working in 35 states and 11 countries, with mobile “fly-away” teams that support emergent situations around the globe.Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII’s Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII’s Technical Solutions division provides a wide range of professional services through its Fleet Support, Integrated Missions Solutions, Nuclear & Environmental, and Oil & Gas groups. Headquartered in Newport News, Virginia, HII employs nearly 38,000 people operating both domestically and internationally. For more information, visit:HII on the web: www.huntingtoningalls.comHII on Facebook: www.facebook.com/HuntingtonIngallsIndustriesHII on Twitter: twitter.com/hiindustriesContact:Beci Brenton
Beci.Brenton@hii-co.com
(202) 264-7143

LINK Staffing featured in “12 Amazing Franchise Opportunities – Second Edition” by Dr. John Hayes

LINK Staffing featured in “12 Amazing Franchise Opportunities – Second Edition” by Dr. John Hayes Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

HOUSTON, Feb. 21, 2018 (GLOBE NEWSWIRE) — LINK Staffing has been named an “Amazing Franchise Opportunity” by internationally recognized franchise speaker and author Dr. John Hayes in his new e-book: “12 Amazing Franchise Opportunities – Second Edition.”
In his latest book, Dr. Hayes explores the secrets of creating a one-of-a-kind franchise success story and then looks at 12 franchise brands, including LINK, that Dr. Hayes considers to be “amazing opportunities” for 2018.“We’re excited to be selected as an amazing franchise by such an expert as Dr. Hayes,” said Michelle Bearden, LINK’s Vice President of Franchise Operations. “This reflects on the dedication and passion of everyone involved with our company, especially our fantastic franchisees.”“12 Amazing Franchise Opportunities – Second Edition” is available for Kindle and other digital readers as well as in paperback through Amazon and other online outlets.Find out more information about LINK and its franchising opportunities at linkfranchising.com.About LINK
LINK Staffing is the premier provider of light industrial, skilled trades, administrative and professional talent on a contract, project, and direct hire basis. Founded in 1980, we operate nationwide, employing over 17,000 employees per year. Based in Houston, TX, we have over 40 locations in 12 states. We provide competent, dependable talent who will get your job done. We make it easy to meet your needs by offering some of the most flexible and reliable programs in the industry.
Franchising with LINK is an opportunity to join one of the best-known brands in staffing, while fulfilling your own entrepreneurial dreams. Our 35+ years of proven systems are your advantage in impacting lives in your community – including your own. LINK’s competitive franchise offerings includes large territories and low entrance fees. For more information, please visit linkfranchising.com, or call 1-888-929-LINK.About Dr. John P. Hayes
Dr. John Hayes is one of the world’s most published authors and speakers on the topic of franchising. Within days of publication, his franchise books such as “Take the Fear Out of Franchising,” “12 Amazing Franchise Opportunities for 2015,” “Buy Hot Franchises Without Getting Burned” and “101 Questions to Ask Before You Invest in a Franchise” climbed to #1 best sellers in their categories on Amazon.com.
In addition to his career in writing and speaking, Dr. Hayes has been a franchisee, a franchisor and a franchise adviser. He also has authored more than 20 books, including “Start Small Finish Big” with Subway co-founder Fred DeLuca, Network Marketing for Dummies with Zig Ziglar and others.Dr. Hayes currently serves as the Titus Chair for Franchise Leadership and director of the Titus Center for Franchising at Palm Atlantic University in West Palm Beach, Florida.                                                                     Contact
Michelle Bearden
Vice President of Franchise Operations
LINK Staffing
800-848-5465
franchising@linkstaffing.com
 

This is a Test From GlobeNewswire

This is a Test From GlobeNewswire Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

LONDON, February 21, 2018 (GLOBE NEWSWIRE) — This is a test from GlobeNewswire. Readers are advised to disregard.
TESTING — TESTING — TESTING — TESTING — TESTING — TESTING — TESTING — TESTING –-END-CONTACT:Karen Yu
Director, GlobeNewswire Product Management
Direct: +1 310 258 6917
Mobile: +1 626 389 7427
orMagali Rolandez
Senior Manager, Media Relations/Content Distribution Europe
Direct: +44 (0) 203 753 2215
Mobile: +44 (0) 7785 619 539

Saia LTL Freight Opens Two Additional Terminals

Saia LTL Freight Opens Two Additional Terminals Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

JOHNS CREEK, Ga., Feb. 21, 2018 (GLOBE NEWSWIRE) — Saia, Inc. (NASDAQ:SAIA) announces Saia LTL Freight is set to open two additional terminals.    
On Feb. 26, Saia LTL Freight will open a terminal in Fort Worth, Texas, bringing the total number of terminals the company operates in the state to 20.“Our growth in Texas has been tremendous and we are committed to providing our customers in this market with capacity and industry-leading quality transportation service. Our Fort Worth terminal will be our third in the Dallas-Fort Worth area. Saia seeks to continuously invest in new facilities as well as upgrades to existing facilities across our network to support market share growth, to enhance our service offerings and get closer to the customer,” said Executive Vice President and Chief Customer Officer Ray Ramu.In conjunction with our Northeast expansion, the company is set to open a terminal in Scranton, Pennsylvania on March 5.  The new Scranton facility will be the seventh location to open in the Northeast within the last ten months and will initially employ 30 people.      “At Saia, we’re excited about the growth we’ve realized over the last year. Our multi-year strategy to expand to all 48 contiguous states is well underway as we plan to open an additional three to five terminals in 2018,” Ramu explained. 
About Saia, Inc.Saia, Inc. (NASDAQ:SAIA), with 2017 revenues of $1.4 billion, offers customers a wide range of less-than-truckload, non-asset truckload, and logistic services. The company operates 157 terminals in 40 states. With headquarters in Georgia, Saia employs nearly 10,000 people nationwide. Saia LTL Freight has been recognized by the American Trucking Associations Safety Management Council for its outstanding safety record. For more information on Saia, Inc. or any of the service groups, visit www.saiacorp.com.For more information, contact:
Jeannie S. Jump
Saia Corporate Public Relations
Phone: 770-232-4069 · E-mail jjump@saia.com

This is a Test From GlobeNewswire

This is a Test From GlobeNewswire Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

LONDON, February 21, 2018 (GLOBE NEWSWIRE) — This is a test from GlobeNewswire. Readers are advised to disregard.
TESTING — TESTING — TESTING — TESTING — TESTING — TESTING — TESTING — TESTING –-END-CONTACT:Karen Yu
Director, GlobeNewswire Product Management
Direct: +1 310 258 6917
Mobile: +1 626 389 7427
orMagali Rolandez
Senior Manager, Media Relations/Content Distribution Europe
Direct: +44 (0) 203 753 2215
Mobile: +44 (0) 7785 619 539

Mission Pharmacal enters into agreement with MainPointe Pharmaceuticals to purchase and license Mission’s consumer products

Mission Pharmacal enters into agreement with MainPointe Pharmaceuticals
to purchase and license Mission’s consumer products Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

SAN ANTONIO, Feb. 21, 2018 (GLOBE NEWSWIRE) — Mission Pharmacal Company (“Mission”) announced today that it has recently divested several consumer products to MainPointe Pharmaceuticals, LLC (“MainPointe”). In addition, the marketing rights of additional consumer products have been licensed by Mission to MainPointe. As part of these transactions, the companies have also entered into a renewable Contract Manufacturing Agreement to continue manufacturing all of the included products that are currently made in Mission’s manufacturing facility. These agreements do not involve the marketing or manufacturing of any of Mission’s branded prescription medications.“These are exciting agreements that will provide consumers greater access to the products involved due to MainPointe’s existing relationships within more diverse distribution channels,” says Mission President Neill Walsdorf, Jr. “Mission remains passionate about the products involved, and more importantly, we are steadfast in our support of the end users who rely on these products every day.”As part of the agreements, the following product lines have been divested:Thera-Gesic® (dual-action, pain relieving creme)Thera-Gesic® PlusDr. Smith’s® Diaper Rash Ointment (pediatrician-developed, diaper rash treatment)Dr. Smith’s® Diaper Rash SprayDr. Smith’s® Adult Barrier Spray (treatment and preventative for incontinence-associated dermatitis)Dr. Smith’s® Adult OintmentIn addition, marketing rights have been licensed by Mission to MainPointe for the following product lines:Calcet® (calcium supplement option for a broad range of patients)Fosfree® (calcium, vitamins, and iron supplement)Heat Guard® (sodium and potassium chloride supplement)Maxilube® (personal lubricant)Lycelle® Head Lice Removal Kit (pesticide free, head lice eliminator)Beyond its core pharmaceutical business, Mission is the parent company of the Mission Family of Companies, a group of wholly-owned subsidiaries that function independently, with collective product and service offerings that can be scaled to provide customizable solutions to meet the needs of its business partners. Specific to the MainPointe agreements, BexR Logistix, LLC and its subsidiary EPIC Fulfillment, Inc. have the infrastructure in place to provide warehousing and fulfillment. Alamo Pharma Services, Inc. is well positioned to provide sales support and sales force training.“We look at these agreements as the beginning of an exciting strategic partnership between Mission and MainPointe,” notes Walsdorf. “Our industry is continually evolving and we hold strong to the belief that partnering for success is more essential today than ever before.”About Mission Pharmacal CompanyMission Pharmacal Company is a privately held pharmaceutical company based in San Antonio, Texas. For more than seven decades, the company has been improving the lives of people through every stage of life by identifying unmet healthcare needs, and then manufacturing and delivering innovative, high-quality prescription, over-the-counter, and dietary supplement products to meet these needs using only the purest ingredients and FDA-approved methods of manufacturing. Mission is recognized as a pioneer and leader in the therapeutic areas of women’s health and urology and also offers leading products through its pediatric, dermatology, primary care, and long-term care service lines. With the shared objective of improving the health of all moms and babies, Mission is proud to support the March of Dimes Foundation®, the leading nonprofit organization for pregnancy and baby health.Using an innovative business model, Mission created the Mission Family of Companies, a collection of wholly-owned subsidiaries including BioComp Pharma, Inc., a generic drug marketer; Alamo Pharma Services, Inc., a specialized contract sales organization; ProSolus, Inc., a transdermal drug developer and manufacturer; Espada Dermatology, Inc., a prescription and esthetic dermatology company; as well as BexR Logistix, LLC and its subsidiary company, EPIC Fulfillment, Inc., the logistics and fulfillment arms of the organization. Each company functions independently while their product and service offerings can be linked together to offer customizable solutions to a wide array of forward-thinking pharmaceutical and biotech companies. To learn more, please visit missionfamilyofcompanies.com. # # #Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eaab7479-69b0-427b-bb3f-dee25a49f763Attachments:A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/eb375f49-6660-4a98-b6dd-98b5ff4421e1Drew Deeter
DeeterUSA
215.348.3890
drew@deeterusa.com

Barefoot Networks to Showcase Cutting-edge Innovations in Network Performance and Visibility for 5G Networks at Mobile World Congress

Barefoot Networks to Showcase Cutting-edge Innovations in Network Performance and Visibility for 5G Networks at Mobile World Congress Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

SANTA CLARA, Calif., Feb. 21, 2018 (GLOBE NEWSWIRE) — Barefoot Networks today announced several ground-breaking technology demonstrations that will be shown at Mobile World Congress in Barcelona, Feb. 26-March 1. Leveraging P4-programmability, Barefoot Tofino™ and Barefoot Deep Insight ™, these demonstrations with leading networking solutions providers and consortiums underscore the benefits of computational networking as enabled by Barefoot Networks’ technology to 5G networks.The fundamental transformation of mobile networks with 5G technology brings both opportunities and challenges to operators. Features like full visibility into the network, accelerated VNF performance and low-latency are critical requirements for meeting the high quality of experience that operators need to deliver to their customers. Barefoot Networks, together with its partners, is showcasing how its technology can enable operators to scale their networks and deliver seamless 5G experiences.The following breakthrough demonstrations will be showcased at Mobile World Congress:Demo Name: Programmable, Real-time, High-performance Per-packet Telemetry and Analytics for 5G Network Deployments
Description: The P4 programmability of Barefoot’s Tofino series of Ethernet switch ASICs and Xilinx’s FPGA-based SmartNICs unlock full network visibility at nanosecond granularity through the programmable collection of per-packet telemetry information. Barefoot Deep Insight consumes this rich telemetry data, performing deep analytics and visualization giving 5G network operators the ability to monitor network performance over millions of flows, identify and fix trouble spots in the network, and provision services appropriately for customers.
Partners: Xilinx
Location: Xilinx – Hall 5, Booth 5L14MR
Demo Name: Intelligent Multi-access Edge Compute with 5G User Plane Function Offload to Barefoot Tofino Switches
Description: This demo will showcase the P4-programmable fabric for 5G networks where the Serving Gateway (SGW) and Packet Gateway (PGW) functionality is implemented in P4 and runs on Barefoot Tofino switches at line-rate. This programmable fabric is controlled with the open, extensible, scalable and silicon-independent P4 Runtime framework, together with the ONOS controller.
Partners: Open Networking Foundation (ONF)
Location: ONF – Hall 5, Booth 5I61
Demo Name: Unlocking Extreme Visibility for Cybersecurity Applications with Barefoot Deep Insight and NoviFlow CyberMapper
Description: The P4-programmable 6.5Tb/s Barefoot Tofino Ethernet switch ASIC and Barefoot Deep Insight are leveraged by NoviFlow’s CyberMapper Threat Intelligence Gateway application to gain unprecedented levels of awareness, control, threat detection and mitigation capabilities. This joint demo showcases NoviFlow’s NoviWare NOS running on Barefoot Tofino based whitebox switches implementing in-network DDoS protection and generating granular per-packet telemetry. Barefoot Deep Insight running on commodity servers will complement the solution giving insights into flows violating the DDoS policies and visibility into performance issues such as packet drops, path changes and latency variations through the network.
Partner: NoviFlow  
Location: NoviFlow – Hall 7, Booth 7M11
Demo Name: Real-time Subscriber QoS Issues Detection Using Barefoot Deep Insight and Netsia Network and Customer Analytics
Description: The joint solution utilizes Barefoot Deep Insight and Netsia Network and Customer Analytics to detect subscriber flows experiencing failure or poor QoS. Netsia’s Network and Customer Analytics identifies the flows experiencing the problems meeting SLAs and Barefoot Deep Insight goes further to the packet-level delivering real-time, per-packet visibility enabling operators to pinpoint the exact forwarding entity that is causing the problem and what the problem is.
Partners: Netsia (A Turk Telekom Company)
Location: Netsia – Hall 1, 1C40
Demo Name: A Scalable Data Center Networking Fabric utilizing Barefoot Tofino and the Kaloom Flow Fabric™ for Enhancing 5G Services
Description: P4-programmable Barefoot Tofino series of Ethernet switch ASICs support the Kaloom Flow Fabric – a fully programmable, automated, software-based data center fabric capable of running virtual network functions efficiently at scale and natively supporting slicing of networking and computing resources with complete isolation. The demo showcases this solution running on Barefoot Tofino based whitebox switches using a standard unmodified Linux operating system (e.g., RHEL Atomic) and utilizing fully open standards integrating with industry platforms such as Openstack, Kubernetes and OpenDaylight.
Partner: Kaloom  
Location: Red Hat – Hall 2, Booth 2G40
To meet with Barefoot at Mobile World Congress, please contact info@barefootnetworks.com.About Barefoot Networks
Barefoot Networks launched in 2016 after two years of developing technology that built switch silicon with a forwarding plane that is defined in software while not compromising on performance. Barefoot empowers network owners and their infrastructure partners to design, optimize, and innovate to meet their specific requirements and gain competitive advantage. In combining the P4 programming language with fast programmable switches, Barefoot has also created an ecosystem for compilers, tools, and P4 programs to make P4 accessible to anybody. Backed by Google Inc., Goldman Sachs Principal Strategic Investments, Alibaba, Tencent, and by premier venture capital firms Sequoia Capital, Lightspeed Venture Partners, and Andreessen Horowitz, Barefoot Networks is headquartered in Silicon Valley. For more information, visit https://barefootnetworks.com/. Follow us on Twitter: @barefootnetwork. Follow us on Facebook: https://www.facebook.com/barefootnetworks. Follow us on LinkedIn: https://www.linkedin.com/company/barefoot-networks.
Barefoot Networks, the Foot Logo,Tofino and Deep Insight are trademarks of Barefoot Networks.Editorial Contact
Caitlin Haskins
barefoot@10fold.com
+1 415-800-5369

Developer Helps Increase Housing in Underserved LA County

Developer Helps Increase Housing in Underserved LA County Press Release from GlobeNewsWire has been published today, Karol Rutkowski, .

LOS ANGELES, Feb. 21, 2018 (GLOBE NEWSWIRE) — Ocean Development Inc, the second largest residential developer in Los Angeles has targeted the critically underserved market in Los Angeles County and proved that affordable homes for the working-class can be built in Los Angeles.
During the last forty years, California’s municipalities had the responsibility of setting housing goals every five to eight years as a way of making sure that enough new homes are built to meet the demands of a growing population. Unfortunately, according to the state’s recent report, very few cities are meeting the goals they’ve set.So far, it has been determined that only 13 cities have made a sufficient amount of progress toward meeting their housing construction targets for 2017. 526 other cities, including Los Angeles, haven’t and will now be required to fast-track the approval of some new housing development projects.Under a new law which took effect at the beginning of 2018, cities must speed up the review of developments made up of at least ten percent affordable housing units if they’ve failed to meet their objectives for market-rate housing. Municipalities that met their targets for market-rate housing but haven’t met the requirements for new affordable housing units will need to streamline the review of projects in which at least half the housing units are affordable to low-income residents.While Los Angeles is expected to meet its overall new housing construction objective by issuing permits for nearly 82,000 new homes by 2021, the city hasn’t met its goals when it comes to the construction of enough affordable housing units. Out of 45,820 new units, the city has issued permits for, since 2014, less than ten percent are classified as affordable to low-income residents. President of Ocean Development Amy Cyprus has a message for other developers fearful of working on projects in Los Angeles. “With some commitment, it is possible for dedicated developers to create affordable, family-ready homes in areas that have long been neglected.”What makes Ocean unique is that all of their redevelopments and sales take place South of the 10 freeway in Los Angeles. Ocean has constructed well over 1,000 units in South Los Angeles, all with off-street parking, modernized kitchens and spacious living quarters. By working closely with the community, local elected officials and neighborhoods, over the past decade Ocean has been able to help countless working families move from apartments, to affordable housing.About Ocean Development, Inc. Ocean Development, Inc. is a full service real estate development company, which develops, constructs, owns, and sells residential housing units. Its sister company, Ocean Properties, Inc., offers full service management to over 1400 units consisting of over 700 properties in the south Los Angeles area. Our mission is to provide the highest quality of affordable homes and duplexes in the south L.A. area. Our management and staff are highly qualified in the real estate investing and property management arena with more than 100 years of collective experience.Contact: Eric W. Rose (213) 741-1500 X 525 or Eric@ekapr.com