Safe and Green Development Corporation Receives Approval to Purchase Right of Way Approval at Norman Berry Village Project in Atlanta, Georgia
October 05 2023 - 8:30AM
Safe and Green Development Corporation (NASDAQ: SGD)(“SG DevCo” or
the “Company”), a leading real estate development company recently
spun off from Safe & Green Holdings Corp. (NASDAQ: SGBX) (“SG
Holdings”), in partnership with CMC Development Group (“CMC”) and
architecture and engineering firm CSHQA, , has received approval
from the city of Eastpoint to purchase the project’s Right Of Way
(“ROW”) approval to begin developing a six-acre site on Norman
Berry Drive in Atlanta, Georgia (“Norman Berry Village”).
"We believe the Norman Berry Village in Atlanta is a prime
location for development, considering its demographics and the
growing need for homes in the area," said David Villarreal,
President & CEO of SG DevCo. “In this stage of the project, we
will be constructing a 125,000-square-foot facility that will
accommodate a combination of 68 single and double occupancy
residences for elderly and assisted living residents including many
additional building amenities.”
“We are delighted to partner with CMC. This type of
collaboration with local partners is our favored approach to
development. We also seek to involve local workers and landowners,
as we introduce eco-friendly and safe housing solutions, with a
focus on both affordability and quality.”
There are planned additional phases of construction for the
Norman Berry Village project's design, and the completed project is
expected to feature two buildings housing 134 units, offering a
blend of one- and two-bedroom apartments. Additional facilities
like a clubhouse, gym, and outdoor recreational areas are also
expected to be part of the development. These structures will be
assembled at the SG Echo campus located in Durant, Oklahoma, before
being transported to Atlanta. Groundbreaking activities are slated
to kick off in 2024.
About Safe and Green Development
Corporation
Safe and Green Development Corporation is a leading 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, sourced from one of SG Holdings’ factories operated
by SG Holdings’ SG Echo subsidiary. More information about SG DevCo
can be found at www.sgdevco.com.
About Safe & Green Holdings Corp.
Safe & Green Holdings Corp., a leading modular solutions
company, operates under core capabilities which include the
development, design, and fabrication of modular structures, meeting
the demand for safe and green solutions across various industries.
The firm supports third-party and in-house developers, architects,
builders, and owners in achieving faster execution, greener
construction, and buildings of higher value. For more information,
visit https://www.safeandgreenholdings.com/ and follow us at
@SGHcorp on Twitter.
Safe Harbor Statement
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. These forward-looking
statements are based upon current estimates and assumptions and
include statements regarding the Company’s plans to construct a
125,000-square-foot facility and the expected features thereof;
planned additional phases of the project and the expected features
thereof; and projected timing of the project. While the Company and
SG Holdings believe these forward-looking statements are
reasonable, undue reliance should not be placed on any such
forward-looking statements, which are based on information
available to us on the date of this release. These forward-looking
statements are subject to various risks and uncertainties, many of
which are difficult to predict that could cause actual results to
differ materially from current expectations and assumptions from
those set forth or implied by any forward-looking statements.
Important factors that could cause actual results to differ
materially from current expectations include but are not limited to
those factors discussed in SG Holding’s Annual Report on Form 10-K
for the year ended December 31, 2022 and its subsequent filings
with the SEC, including subsequent periodic reports on Forms 10-Q
and 8-K and in the Form 10 registration statement filed by SG DevCo
and its subsequent filings with the SEC. The information in
this release is provided only as of the date of this release, and
we undertake no obligation to update any forward-looking statements
contained in this release on account of new information, future
events, or otherwise, except as required by law.
Investor Relations:
Crescendo Communications, LLC
212-671-1020
SGBX@crescendo-ir.com
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