COMMUNITY REDEVELOPMENT - CRDV STOCK NEWS

Community Redevelopment (CRDV) acquires property in DC metro real estate market, renovates building to add value and ethical upliftment

Community Redevelopment Inc. (CRDV) recently executed an affiliation agreement with the Black Veterans Empowerment Council Inc. (BVEC) to address the housing needs of Black veterans. The partnership aims to pre-determine veterans' housing needs and redesign properties to meet their specific requirements. With approximately 3.5 million people experiencing homelessness in America each year, and 23% of all homeless persons and 33% of all homeless men being veterans, the partnership seeks to provide stable, reliable housing for the homeless veteran population. The Urban Institute and the Department of Veterans Affairs (VA) statistics highlight the urgency of this issue, making the affiliation crucial in addressing the crisis.

Community Redevelopment, Inc. (CRDV) has acquired a multi-family rental condominium property in Washington D.C. from Richard Balles for over $5 million in a cash and stock deal. This property, located at 1618 21st Place, consists of 15 units and is nearing completion by Q2 2023. Artistry, a subsidiary of CRDV, aims to increase affordable housing, addressing over 40,000 families on waiting lists in D.C. The acquisition will enhance CRDV’s assets and set the stage for revenue through Section 8 compatible units, with more projects identified for future development.

Community Redevelopment, Inc. (CRDV) has launched its subsidiary, Artistry, LLC, to enhance rental housing options in urban areas. Artistry has acquired a 51% stake in two multi-family properties in Washington D.C. with a combined appraised value upon completion of $12,293,000. The properties are designed to address the severe shortage of affordable housing, with nearly 40,000 families on waiting lists in D.C. CEO Lara Fritts emphasized the company's commitment to creating sustainable housing solutions. Artistry plans to pursue additional projects in the near future.

Community Redevelopment, Inc. (CRDV) has announced leadership changes aimed at enhancing shareholder value. Lara Fritts has been appointed as the new CEO, succeeding Garfield Antonio, who will continue as a Director while undergoing health treatment. Richard Balles is now President, bringing over 20 years of experience in real estate and finance. The Board has also added independent director Michael P. Zink, a CPA with extensive public company experience. Additionally, CRDV is planning to acquire two properties in Washington, DC, with further details forthcoming.

Community Redevelopment (CRDV) announced a strategic repositioning focused on asset and revenue growth, highlighted by the acquisition of its first rowhome property in Baltimore, Maryland. This move aims to revitalize neighborhoods by purchasing vacant homes for renovation. Additionally, CRDV has opened a brokerage, RedRock Realty, in South Florida, targeting the lucrative real estate market. CEO Garfield Antonio emphasized the importance of market awareness and a strong strategic plan to enhance future success and raise capital.

Community Redevelopment (CRDV) announced that Christina Fischer, founder of The Fischer Group, has joined its Advisory Board. With a wealth of experience in business development and consulting for Fortune 500 companies, her expertise is expected to enhance the company's growth.

Fischer aims to contribute to better business opportunities and improve community well-being. CEO Charles Arnold emphasized that her marketing and international business skills would strengthen the leadership team, driving sales and profitability amidst the company’s rapid growth.

Community Redevelopment (OTC: CRDV) announced its Fiscal Year 2021 results, marking significant growth and strategic acquisitions. Key highlights include a merger with Red Hills Capital Advisors, acquisition of six properties in the Washington D.C. area, an increase in total assets to $18.47 million, and a cash increase of over $1 million. CEO Charles Arnold emphasized the company’s focus on community-oriented development and plans for future expansion in urban and suburban markets. The acquired properties support a strong demand for housing, aligning with their growth strategy.