Community Redevelopment Engages Myron M. Jones and Millennium Acquisition Partners LLC to Serve as Head of Development

Rhea-AI Summary

Crosswind Renewable Energy Corp., operating as Community Redevelopment (OTC Pink: CWNR), has appointed Myron M. Jones as Head of Development. Jones, previously of Millennium Acquisition Partners, brings extensive experience in real estate project feasibility and development, previously overseeing over $250 million in redevelopment projects. This strategic hire aims to enhance the company’s initiatives in providing affordable housing and commerce to underserved communities. Community Redevelopment has also filed for full reporting with the SEC, signaling its commitment to transparency and growth.

Positive

• Strategic appointment of Myron M. Jones to Head of Development enhances expertise and leadership in real estate projects.
• Jones has experience in managing over $250 million in redevelopment projects, which may accelerate current transactions.
• Community Redevelopment aims to improve commerce and affordable housing in low-income areas for underserved communities.

Negative

• The company faces risks related to capital raising and funding for future development plans.
• Potential uncertainties linked to local zoning laws and government regulations could hinder project implementation.

MIAMI, May 03, 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 engaged Myron M. Jones as Head of Development. Mr. Jones currently serves as the principal of Millennium Acquisition Partners LLC, a real estate services and investment company doing business in the Washington, DC, Baltimore, MD, and New York metro areas. As Head of Development for Community Redevelopment, Mr. Jones will provide the Company with guidance on initial feasibility, as well as pre-development and construction, in the form of advisory, planning, financial modeling, and presentation.

Charles Arnold, Chief Executive Officer of Community Redevelopment, said, “Myron Jones is a top-tier professional with an impressive background in the U.S. real estate and capital markets sector. His experience will play a major role in helping Community Redevelopment bring commerce and affordable housing to underserved areas.” Mr. Arnold continued, “Myron’s leadership and track record in feasibility and due diligence of early stage real estate projects will help accelerate some of the transactions we have on the table.”

As the principal of Millennium Acquisition Partners, LLC, Mr. Jones has focused primarily on mixed-use and transit oriented projects that are environmentally conscious and promote new urbanism. He has primarily been responsible for feasibility and due diligence of early stage real estate projects, the acquisition and disposition of distressed institutional assets, and providing underwriting support for institutional funding and equity partnerships. Millennium has negotiated and advised clients on more than $26 Million in debt and equity placement.

Prior to Millennium Acquisition Partners, LLC, Mr. Jones participated in the feasibility and predevelopment phases of more than $250 million in re-development. Mr. Jones assisted with a project currently under construction consisting of 550,000 square feet of mixed use development set on 25 acres, the creation of a TIF district, and the acquisition of $16.1 Million Tax Increment Financing. His skillset also includes writing a successful Minority Business Enterprise (MBE) plan, as well as underwriting support for institutional funding and equity partnerships.

Mr. Jones has managed several multi-family development projects totaling more than $105 million in market value and was responsible for project underwriting, and overseeing third party consultants. He evaluated construction, architect and engineering proposals and contracts, while managing completion of the entitlement process.

Myron Jones, Head of Development for Community Redevelopment said, “I am very impressed with Community Redevelopment's plan to provide workforce, veterans and senior housing in low-income areas. Mixed use developments that provide a safe, comfortable environment, as well as increased commerce, have always been of tremendous interest to me.” Mr. Jones continued, “I look forward to helping contribute to the future growth and success of the company.”

Community Redevelopment recently filed its Form 10-K and Form 10-12G/A to become a fully reporting company with the U.S. Securities and Exchange Commission.

About Community Redevelopment

Community Redevelopment, Inc. operates as a community oriented real estate redeveloper targeting economic growth, housing for veterans, and opportunity zones in secondary and tertiary value-added markets. The Company is primarily focusing its efforts on bringing 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:

David Kugelman
(866) 692-6847 Toll Free - U.S. & Canada
(404) 281-8556 Mobile and WhatsApp
Skype: kugsusa
ir@comredev.com

 

FAQ

What is the significance of appointing Myron M. Jones as Head of Development for CWNR?

Myron M. Jones's appointment is significant as he brings extensive experience and expertise that may accelerate CWNR's real estate projects aimed at underserved communities.

What are CWNR's goals with the recent appointment of Myron M. Jones?

CWNR aims to enhance its real estate development efforts, focusing on providing affordable housing and economic opportunities in low-income areas.

How does the appointment of Jones affect CWNR's current projects?

Jones's experience in feasibility and pre-development is expected to improve the efficiency and success of CWNR's current real estate transactions.

What challenges does CWNR face following its recent developments?

CWNR faces challenges related to capital raising, local zoning laws, and government regulations which could impact their development plans.