FIRM SINKS $75 MILLION IN AREA; NEW SIKESTON MANUFACTURED-HOME PLANT INCLUDED

Holigan Family Investments Inc., a land-development and home-building organization headquartered in Dallas, Texas, is committing to more than $75 million in transactions in Southeast Missouri, including a manufactured-home plant at Sikeston.

The investments were announced Tuesday by Herbert L. Annis, new president of the Missouri division of Holigan Homes, and Harold Holigan, chief executive officer of the organization, known as HFI.

The investments include:

-- Purchase of Ashland Courts Subdivision in Northwest Cape Girardeau.

-- Purchase of Michael Annis Construction Inc., one of the largest home builders in the Cape Girardeau area.

-- Purchase of Savannah Ridge Subdivision in Jackson.

-- Purchases of Cher-Ron-Doe, a Fruitland subdivision to be renamed Forest Hills.

-- Development of Forest Hill Estates on North Sprigg Street in Cape Girardeau.

-- Opening of a manufactured-home factory in Sikeston.

The factory, to be in the old MRM building in west Sikeston, is expected to be in production within 90 to 120 days. It will employ about 200 people initially and 300 later.

The Sikeston property consists of 28 acres with an existing, 110,000-square-foot building.

"We're expanding on the building," Holigan said Tuesday from HFI's corporate offices in Dallas. "Once we start production we hope to produce about 12,000 homes a year there."

The homes made at Sikeston will be marketed by HFI in nine states.

Steve McPheeters, executive director of the Sikeston-Minor Area Chamber of Commerce, said the chamber is excited about the home-building plant.

Bill Green, Sikeston's director of economic development, said the city has developed a close relationship with Holigan. "We are confident that as negotiations continue toward a successful conclusion, Holigan will become a very important member of our corporate family," Green said.

A graduate of Puxico High School, Holigan is familiar with Southeast Missouri.

Following two years at Southeast Missouri State University in Cape Girardeau, Holigan transferred to the University of Missouri, where he graduated with a degree in engineering.

Holigan spent 19 years with AT&T and Southwestern Bell Telephone and was a district manager in the Cape Girardeau area before transferring to Dallas.

Holigan founded HFI in 1981. The company builds homes ranging in price from $50,000 to as much as $1 million. Holigan's main emphasis in Sikeston will be building homes in the $80,000-to-$250,000 price range.

He emphasized that most of the homes will be conventional homes constructed by builders "from the ground up."

The Southeast Missouri economy has been stable and represents a good opportunity for HFI, said Holigan, who maintains a home in the Puxico area.

Holigan's son Michael is with HFI and has a syndicated television show, "This New House," which airs in more than 145 markets over 83 percent of the U.S. It is seen locally on KFVS-TV.

In organizing the Missouri division of Holigan Homes, Herbert Annis has been named president and Michael L. Annis vice president of operations. Other personnel include vice president of construction Harold Lineberry, who has been with the company 17 years, and sales manager Gary Turner of Cape Girardeau.

Dave Davis of HFI's corporate office will be responsible for setting up the Missouri operations.

Herbert and Thelma Annis announced the sale of their interest in Ashland Courts Subdivision to HFI Monday.

HOLIGAN'S $75 MILLION PLAN

-- Purchase Ashland Courts Subdivision in Northwest Cape Girardeau.

-- Purchase Michael Annis Construction Inc.

-- Purchase Savannah Ridge Subdivision in Jackson.

-- Purchases Cher-Ron-Doe, a Fruitland subdivision.

-- Develop Forest Hill Estates in Cape Girardeau.

-- Open a manufactured-home factory in Sikeston.