Community Redevelopment and the Horton Group Announce Joint Venture for Real Estate Development
Crosswind Renewable Energy Corp has initiated a Joint Venture with the Horton Group to develop 10 mixed-use communities over the next 36 months. The project aims to revitalize underserved areas by integrating residential and commercial spaces with public amenities. The Horton Group will contribute construction materials and expertise, while Community Redevelopment will handle property acquisition and zoning. This partnership is expected to enhance housing opportunities for low-income residents and military veterans, while utilizing innovative, eco-friendly building materials.
- Joint Venture with Horton Group expected to increase investment efficiency.
- Focus on development in underserved communities aligns with social impact goals.
- Use of energy-efficient and hurricane-resistant building materials may reduce long-term costs.
- Dependence on external funding raises concerns about capital access.
- Risks tied to local zoning laws could delay project timelines.
- Potential adverse events or safety issues could impact project execution.
Plans call for 10 mixed-use, mixed-income, live, work, play communities to be developed over the next 36-months
MIAMI, April 08, 2021 (GLOBE NEWSWIRE) -- Crosswind Renewable Energy Corp. dba Community Redevelopment (OTC Pink: CWNR) ("the Company"), a community oriented real estate redeveloper targeting economic growth and opportunity zones in secondary and tertiary markets, announced today that it has entered into a Joint Venture with the Horton Group for development and construction for various multi-family projects and single homes as part of its strategic master redevelopment plans.
Community Redevelopment plans to partner with developers and local governments to design and develop mixed-use, master-planned communities that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks, open space, along with housing and amenities for military veterans. Under the terms of the agreement Community Redevelopment will acquire the property, zoning permits, and other items necessary for development and construction, while the Horton Group will provide the materials, plans and construction costs for these projects. The Horton Group is a nationally known and respected home builder with a breakthrough building system for residential and commercial construction. Utilizing its patented laminated panels, the walls are energy efficient and have been tested and confirmed to resist category 5 hurricanes and earthquakes over 6.5 on the Richter scale. The panels are Miami-Dade approved with International Building Code in final testing. The 8 foot wide panels slide easily into a track using military veterans that we train and HUD Section 3 workers to finish the shell quickly and easily. There is no wood, which saves over 40 trees per house. Terry Horton, one of the cofounders of D.R. Horton, an NYSE listed company, was active in the public company for many years. The urge to develop a building system that could revolutionize the way we build a building and the materials that we use, led to the founding of the Horton Group. It is anticipated that both parties shall jointly own these projects on a 50/50 basis, after full costs associated with the project are deducted.
Terry Horton, CEO of The Horton Group, said, “This partnership fully aligns with our strategy of being at the forefront of developing diverse, world-class communities. By combining our strengths, we expect to gain investment efficiency and speed to market with synergies to achieve more, all while continuing to capitalize on the fact that our materials and panels are safer and more affordable than standard materials.”
Charles Arnold, Chief Executive Officer of Community Redevelopment said, "The creation of our Joint Venture with The Horton Group marks an important milestone in strengthening the ability of Community Redevelopment to bring commerce and affordable housing to underserved areas. Our development and regulatory framework will enable the partnership to accelerate development and regulatory approval timelines, as well as to advance our mission of bringing high-quality and affordable housing products to the residents of many underserved communities."
About Community Redevelopment
Community Redevelopment, Inc. operates as a community oriented real estate redeveloper targeting economic growth and opportunity zones in secondary and tertiary value added markets. The Company is primarily focused on opportunity zones in an effort to bring commerce and affordable housing to underserved areas. Community Redevelopment plans to provide numerous opportunities to improve low income neighborhoods for residential, commercial, and industrial opportunities through government incentives, long term partnerships and agreements. Our mission is to rebuild depressed communities, change the direction of youth and improve the quality of life in those communities, and provide our investors with an opportunity to profit. We intend to accomplish this by focusing on partnerships between the public and private sector to generate both business interest and business activity in low income neighborhoods that have gone unnoticed by the development community at large, while repairing and amending relationships in these underserved communities.
Community Redevelopment, Inc. is not an opportunity zone fund, or a real estate investment trust. Community Redevelopment, Inc. is a real estate developer offering potential investors an opportunity to participate in the process of investing in real estate projects that could improve the quality of life for residents of low income neighborhoods, via a publicly traded company. The Company intends to work with other real estate developers, as well as local and state government agencies to complete its projects in these communities.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations regarding future events, including its ability to raise sufficient capital, as well as the Company’s plans for real estate development, the Company's regulatory environment, and the Company’s overall business strategy. Forward-looking statements involve risks and uncertainties. Such risks and uncertainties include, among other things, assumptions regarding the funding necessary for the Company’s future development plans, local zoning laws, access to capital, changes to government regulation, unexpected adverse events or safety issues, the timing and ability of the Company to raise additional funding as needed for continued operations, and the impact of the COVID-19 pandemic on general economic, regulatory and political conditions. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. For further discussion of these and other risks, see the Company’s filings with OTC Markets on OTCMarkets.com. The Company undertakes no obligation to update or revise the information contained in this announcement, whether as a result of new information, future events or circumstances or otherwise.
For Investor Relations, please contact:
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