MIAMI, Feb. 14,
2025 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) (the "Company") is pleased to announce
that all 5 homes from the 1stt phase of the Sugar Joint
Venture with Milk & Honey, LLC have all gone under contract.
These transactions mark a significant milestone in the Company's
ongoing real estate initiatives and reflect the demand for
high-quality housing in the region.
As a result of successful marketing efforts by the Company and
its Realty partners the following properties are now under contract
for sale with closing expected on or about April 11, 2025:
- 3005 Rio Red Circle
in Edinburg, Texas under
contract for $195,000
- 2939 Rio Red Circle
in Edinburg, Texas, under
contract for $195,000
- 2965 Rio Red Circle
in Edinburg, Texas, under
contract for $195,000
- 2953 Rio Red Circle in
Edinburg, Texas, under contract
for $195,000
- 230 N Pino Street in Weslaco,
Texas, under contract for $170,000
The successful marketing of these properties was led in
partnership by the Company, Madilyn
Garza of Element Realty and Jose
Lopez of the Opulent Real Estate Group, whose efforts
played a key role in generating interest and securing buyers.
As previously announced, the Company expects to receive permits
and begin construction on the next set of 7 homes which is expected
to be completed and ready for market by Q2 2025. This pace sets the
Company on track to complete its previously announced goal of 55
homes for 2025.
About Safe and Green Development Corporation (SG
Devco)
Safe and Green Development Corporation is a real estate
development company. Formed in 2021, it focuses primarily on the
direct acquisition and indirect investment in properties nationally
that will be further developed in the future into green single or
multi-family projects. Additionally, a wholly owned subsidiary of
SG DevCo, Majestic World Holdings LLC, is a prop-tech company
that has created a real estate AI Platform the Company integrates
to strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance. 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.
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 closing the sale of five
properties from the first phase of the Sugar Joint Venture with
Milk & Honey, LLC on or about April 11,
2025, receiving permits and beginning construction on the
next set of 7 homes, completing the next set of 7 homes and having
them ready for market by Q2 2025, being on track to complete
the Company's previously announced goal of 55 homes for 2025, using
Majestic World Holdings LLC's real estate AI Platform to
strategically increase the margins on homes sold by facilitating
mortgage services and down payment assistance and MyVONIA
simplifying daily tasks and improve productivity for individuals
and businesses.
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 close the
sale of five properties from the first phase of the Sugar Joint
Venture with Milk & Honey, LLC as planned, the Company's
ability to have the next set of 7 homes ready for market by Q2
2025, the Company's ability to achieve its goal of 55 homes for
2025, the Company's ability to use Majestic World Holdings LLC's
real estate AI Platform to strategically increase the margins on
homes sold by facilitating mortgage services and down payment
assistance, MyVONIA's ability to simplify daily tasks and improve
productivity, 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
View original
content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-inks-contracts-to-sell-out-1st-phase-of-sugar-joint-venture-developments-302376872.html
SOURCE Safe and Green Development Corporation
