The Federal Housing Administration is buying Fort Builders, a company in Virginia that builds homes for the poor.
The agency says the new company can provide the same level of quality for lower-income families as it does for wealthier ones.
The agency’s buy will add to the growing trend of government-backed companies that build homes for people who can’t afford to pay for them.
Fort Builders makes residential homes, as well as commercial structures.
A Fort Builder spokesman said the company is hiring people for the Fort Buildering workforce of about 1,500.
FHA officials said in a statement that the company provides “world-class construction services, including high-quality residential, commercial and industrial designs and engineering.”
In a statement, the agency said the purchase was “the latest example of FHA’s commitment to ensuring the highest-quality, most cost-effective solutions for our most vulnerable Americans.”
It said Fort Buildings “brings a wealth of experience, leadership, and expertise” to its service.
Read more about the FHA buying company here: http://www.washingtonpost.com/politics/federal-housing-agency-buys-a-company-that-builds-a%E2%80%99house-for-you/2017/03/19/a8ddf05f-e6b6-11e5-b4d6-b9ddd8bdf9a4_story.html FHS chief says FHA needs to spend more on affordable housing https://t.co/3k5gwQQxWU pic.twitter.com-gZJbY1wJ4G — WTOP (@WTOP) March 20, 2018