MIAMI, Oct. 29,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco" or the
"Company"), a real estate development company, announces the
start of construction on its Sugar Phase I project in South Texas.
Following the recent completion of all required site work and
receipt of necessary elevation certificates and permits, SG Devco
has officially broken ground on this first phase, which will
consist of 5 single-family homes. This marks an important step
forward for SG Devco's plan to bring high-quality housing to
South Texas communities.
"Starting construction on Sugar Phase I is a pivotal moment for
SG Devco," said David Villarreal,
CEO of SG Devco. "We're excited to begin building homes that will
meet the growing demand in South
Texas and serve as a foundation for further developments in
the area."
With the foundation now poured, framing is expected to be
completed later this week as construction progresses rapidly. A
video showcasing the project's milestones and current status is
being released in conjunction with this announcement, highlighting
SG Devco's commitment to transparency and community engagement.
View the video and learn more about the project on the SG Devco
website: https://www.sgdevco.com/projects.
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 bringing high-quality housing to
South Texas communities, building
homes that will meet the growing demand in South Texas and serve as a foundation for
further developments in the area, the framing being completed later
this week as construction progresses rapidly 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 complete the Sugar
Phase I project in South Texas as
planned, the Company's ability to deliver homes that meet the
growing demand in South Texas, 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