MIAMI,
Oct. 23,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco" or the "Company"), a leading
real estate development company, announces that it has poured the
foundation for its first home in South
Texas.
The Company previously announced that it secured
financing terms for the vertical construction of the Company's
model home. The home is expected to be delivered in the next 75
days.
This home is the precursor to the Company's Sugar
Phase I Development which recently received all approvals to move
forward with vertical construction. In addition, the Company
received approval for construction financing for the first 5 homes
of Sugar Phase I and will begin construction in the coming
weeks.
The Company will continue to provide updates on
the development of both the model home and Sugar Phase I.
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 delivering the Company's model home in the
next 75 days, beginning construction for the first 5 homes of Sugar
Phase I in the coming weeks, providing updates on the development
of both the model home and Sugar Phase I 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 model home and Sugar Phase I project as planned,
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
View original
content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-pours-foundation-for-first-time-in-company-history-302284129.html
SOURCE Safe and Green Development Corporation