MIAMI, Dec. 27,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SGD" or the
"Company"), a real estate development company, is excited to
share its expected timeline for completion of its joint venture
developments in Southern Texas.
The timeline below is only considering the existing portfolio of
joint ventures; however, the Company will look to continue to
expand its portfolio of joint ventures and initiate development on
its existing joint venture properties in Oklahoma and Georgia.
2025
The Company expects to complete all 35 homes in the Sugar
Developments throughout 2025. Additionally, the sitework for the 57
lots at Hacienda Olivia Phase II will be completed in the first
quarter of 2025. The Company then expects to build the first 20
homes of that development throughout the rest of the year. The goal
for homes delivered in 2025 will be approximately 55 homes. In Q1
2025, the Company will begin the sitework for Hacienda Olivia Phase
IV for a total of approximately 113 lots with completion of the
sitework expected in early 2026.
2026
The Company expects to complete the remaining 37 homes from the
Hacienda Olivia Phase II development throughout 2026. SGD expects
to deliver 35 homes from the Hacienda Olivia Phase IV development
throughout the year. The goal for homes delivered in 2026 is
approximately 72 homes. Like the previous year, the Company will
begin sitework on Hacienda Olivia Phase III for 77 lots in Q1 of
2026.
2027
The Company expects to complete the remaining 78 homes from the
Hacienda Olivia Phase IV development throughout 2027. The Company
will also look to deliver 22 homes from the Hacienda Olivia Phase
III development throughout the year. The goal for homes delivered
in 2027 is approximately 100 homes.
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 completing joint venture
developments in Southern Texas continuing to expand the
Company's portfolio of joint ventures and initiating development on
existing joint venture properties in Oklahoma and Georgia, completing all 35 homes in the Sugar
Developments throughout 2025, completing 57 lots at Hacienda Olivia
Phase II in the first quarter of 2025, building the first 20 homes
of Hacienda Olivia Phase II throughout the rest of 2025, delivering
approximately 55 homes of Hacienda Olivia Phase II in 2025,
beginning the sitework for Hacienda Olivia Phase IV in Q1 2025,
completing the sitework for a total of approximately 113 lots for
Hacienda Olivia Phase IV in early 2026, completing the remaining 37
homes from the Hacienda Olivia Phase II development throughout
2026, delivering 35 homes from the Hacienda Olivia Phase IV
development throughout 2026, the year, delivering approximately 72
homes in 2026, beginning sitework on Hacienda Olivia Phase III for
77 lots in Q1 of 2026, completing the remaining 78 homes from the
Hacienda Olivia Phase IV development throughout 2027, delivering 22
homes from the Hacienda Olivia Phase III development throughout
2027, delivering approximately 100 homes in 2027 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 deliver and sell
finished homes for its various joint venture properties as planned,
the Company's ability to expand its portfolio of joint venture
investments 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