MIAMI, Aug. 15,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG DevCo" or the
"Company") announces
the expansion of its joint venture
project in Edinburg, Texas, after entering into an agreement to
acquire 22 additional single-family lots. These lots are an
addition to the previously announced acquisition of 5 lots in the
same subdivision. This strategic move marks a significant step
towards the Company's goal of capitalizing on the rapid growth in
and around the Rio Grande Valley.
The acquired lots are expected to be permitted and the
transaction is expected to close within the next 60
days, further strengthening SG DevCo's foothold in
the South Texas real estate
market. With this expansion, the company is poised to deliver all
homes to customers by the end of Q2 2025.
David Villarreal, CEO of SG DevCo, expressed enthusiasm about the company's
swift progress, stating, "This expansion is a testament to our
unwavering dedication to propelling growth
and delivering superior results. By pursuing
lots that are ready for vertical construction, we aim to efficiently
meet the demands of our customers while generating substantial
revenue."
SG DevCo remains committed to its core values of
sustainability and environmental consciousness. Each home
constructed within this expansion project will continue to embody
these principles, incorporating
energy-efficient features and sustainable building
practices.
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 acquiring 22
additional single-family lots in Edinburg, Texas, capitalizing on the rapid
growth in and around the Rio Grande Valley, permitting the lots and
closing the transaction within the next 60 days, further
strengthening SG DevCo's foothold in the South Texas real estate market, being poised
to deliver all homes to customers by the end of Q2 2025, dedication
to propelling growth and delivering superior results, efficiently
meeting the demands of customers while generating substantial
revenue by pursuing lots that are ready for vertical construction,
the commitment to the core values of sustainability and
environmental consciousness, constructing each home within this
expansion project incorporating energy-efficient features and
sustainable building practices 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 acquire and develop
the 22 additional single-family lots in Edinburg, Texas as planned, the Company's ability to
capitalize on the rapid growth in and around the Rio Grande Valley,
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
