#USA #Texas #Safe and Green Development #Sugar Phase #South Texas

Exciting Developments in South Texas

Safe and Green Development Corporation (NASDAQ: SGD) recently celebrated a significant milestone by closing on twenty-two lots located in South Texas, marking a major step forward in its Sugar Phase residential project. The acquisition, which cost $440,000, is not just a purchase of land but an essential part of a broader vision for affordable and sustainable housing in the region. In conjunction with this closing, Sugar Phase I LLC has secured a loan amounting to approximately $1,092,000, enabling the company to initiate construction on the next seven homes in this development.

This advancement comes on the heels of successful efforts with the initial five homes within the Sugar Developments, which are currently listed for sale. These initial homes set a strong precedent for future endeavors, reinforcing the company's mission to provide quality single-family homes that cater to the local community's needs.

David Villarreal, CEO of the company, expressed his enthusiasm regarding this latest development. "We are excited to move forward with the second phase of the Sugar Development project. Closing on these lots and securing financing for construction marks an important milestone as we continue to build on the momentum from the first phase of development, where homes are now nearing completion and already available for purchase. This progress showcases our commitment to delivering value not only to our shareholders but also to the community we serve," Villarreal stated.

The timeline for development indicates a proactive approach, as the company anticipates obtaining necessary permits and commencing construction within 30 days following the closing. The projected completion date for the first set of seven homes is set for early Q2 2025. In total, this will bring the number of homes under construction to 13 by the end of Q1 2025, keeping the company on track to achieve its goal of constructing 55 homes by the end of 2025.

Founded in 2021, Safe and Green Development Corporation centers its business strategy on the acquisition of various properties across the nation, with plans for future development, emphasizing green building practices. Their wholly-owned subsidiary, Majestic World Holdings LLC, has launched a prop-tech initiative with the introduction of an AI platform designed to optimize home sales by providing mortgage services and down payment assistance, a significant advancement in real estate technology.

Additionally, MyVONIA Innovations LLC is another subsidiary that operates MyVONIA, an AI-powered personal assistant created to streamline daily operations and enhance productivity for its users. Together, these innovations portray the company’s dedication to not only expand its housing portfolio but also elevate the standards of living for homeowners in South Texas.

As stakeholders, community members, and potential homeowners anticipate the commencement of construction, the developments driven by Safe and Green Development Corporation reflect a commitment to enhancing life quality through thoughtful and sustainable residential solutions. The company's careful planning and execution signal a positive trajectory for its involvement in South Texas and the promise of affordability within the housing market.

While forward-looking statements can sometimes lead to uncertainties, Safe and Green Development Corporation remains confident in its objectives, as highlighted during their communications with the market. The company’s strategy entails not only capitalizing on current market conditions but also preparing for future developments that ensure sustained growth and community benefits. As the Sugar Phase project progresses, it will undeniably play a vital role in transforming the South Texas landscape, one home at a time.