MIAMI, Nov. 19,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco" or the "Company") announces
it entered two additional joint ventures for the purpose of
developing and constructing single-family homes in South Texas. Through the new joint ventures,
SG Devco has secured an additional 160 lots bringing the total
pipeline in South Texas to over
approximately 250 lots for single family home development. The 160
lots are spread across two separate parcels totaling 21 acres that
will be developed sequentially.
Hacienda Olivia Phases III & IV will be the continuation of
Hacienda Olivia Phase II, which is currently undergoing horizontal
development with t57 lots estimated to be ready in Q1 of 2025.
Phases III & IV are slated to begin horizontal land development
by Q2 of 2025 with completion expected towards the end of 2025.
CEO David Villarreal commented,
"We are thrilled to expand through these new joint ventures our
pipeline with these additional single family lots in South Texas. We are encouraged by the rapid
construction progress at the Sugar Phase 1 Development and look
forward to continuing to build on the momentum."
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses on the development
of sites using purpose-built, prefabricated modules built from both
wood and steel. The thesis of development is to build strong,
innovative and green, single or multifamily projects across all
income and asset classes. Additionally, a majority owned subsidiary
of SG DevCo, Majestic World Holdings LLC, is a prop-tech
company that has created a real estate AI Platform. The Platform
aims to decentralize the real estate marketplace, creating an
all-in-one solution that brings banks, institutions, home builders,
clients, agents, vendors, gig workers, and insurers into a
seamlessly integrated and structured AI-driven environment. MyVONIA
Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA
which is an AI-powered personal assistant designed to help simplify
daily tasks and improve productivity for individuals and
businesses. MyVONIA aims to assist with managing both personal and
professional tasks.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements other than statements of historical fact
are, or may be deemed to be, forward-looking statements. In some
cases, forward-looking statements can be identified by terminology
such as "may," "should," "potential," "continue," "expects,"
"anticipates," "intends," "plans," "believes," "estimates," and
similar expressions, and include statements regarding Hacienda
Olivia Phases III & IV being the continuation of Hacienda
Olivia Phase II, 60 lots being ready in Q1 of 2025, beginning
horizontal development by Q2 of 2025 of Phases III & IV,
completing Phases III & IV towards the end of 2025, continuing
to build on the momentum and creating an all-in-one solution that
brings banks, institutions, home builders, clients, agents,
vendors, gig workers, and insurers into a seamlessly integrated and
structured AI-driven environment.
These forward-looking statements are based on certain
assumptions and analyses made by us in light of our experience and
our perception of historical trends, current conditions, and
expected future developments, as well as other factors we believe
are appropriate in the circumstances. Important factors that could
cause actual results to differ materially from current expectations
include, among others, the Company's ability to commence
construction of Hacienda Olivia Phases III & IV as planned, the
Company's ability to deliver 57 lots from Hacienda Olivia Phase II
in Q1 of 2025, the Company's ability to begin horizontal
development by Q2 of 2025 of Phases III & IV and complete
Phases III & IV towards the end of 2025, the Company's ability
to create an all-in-one solution that brings banks, institutions,
home builders, clients, agents, vendors, gig workers, and insurers
into a seamlessly integrated and structured AI-driven environment,
the Company's ability to obtain the capital necessary to fund its
activities, the Company's ability to monetize its real estate
holdings, and other factors discussed in the Company's Annual
Report on Form 10-K for the year ended December 31, 2023, and its subsequent filings
with the SEC. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement, and the Company undertakes
no obligation to revise or update this press release to reflect
events or circumstances after the date hereof.
For investor relations and media inquiries, please contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation