Safe and Green Development Corporation Acquires an Additional 160 Single Family Lots on 21 Acres in Texas via Joint Venture
Safe and Green Development (NASDAQ: SGD) has entered two new joint ventures for developing single-family homes in South Texas. The company secured 160 additional lots across two parcels totaling 21 acres, expanding their total South Texas pipeline to approximately 250 lots. The development includes Hacienda Olivia Phases III & IV, following Phase II which is currently under horizontal development with 57 lots expected ready in Q1 2025. The new phases are scheduled to begin horizontal development in Q2 2025, with completion targeted for late 2025.
Safe and Green Development (NASDAQ: SGD) ha avviato due nuove joint venture per lo sviluppo di case unifamiliari nel sud del Texas. L'azienda ha acquisito 160 lotti aggiuntivi su due appezzamenti per un totale di 21 acri, ampliando il loro portafoglio nel sud del Texas a circa 250 lotti. Lo sviluppo include le Fasi III e IV di Hacienda Olivia, dopo la Fase II che è attualmente in fase di sviluppo orizzontale con 57 lotti previsti pronti per il primo trimestre del 2025. Le nuove fasi sono programmate per iniziare lo sviluppo orizzontale nel secondo trimestre del 2025, con completamento previsto per la fine del 2025.
Safe and Green Development (NASDAQ: SGD) ha entrado en dos nuevas empresas conjuntas para desarrollar casas unifamiliares en el sur de Texas. La compañía ha asegurado 160 lotes adicionales en dos parcelas que totalizan 21 acres, expandiendo su cartera en el sur de Texas a aproximadamente 250 lotes. El desarrollo incluye las Fases III y IV de Hacienda Olivia, tras la Fase II que se encuentra actualmente en desarrollo horizontal con 57 lotes que se espera estén listos en el primer trimestre de 2025. Las nuevas fases están programadas para comenzar el desarrollo horizontal en el segundo trimestre de 2025, con la finalización prevista para finales de 2025.
Safe and Green Development (NASDAQ: SGD)는 텍사스 남부에서 단독 주택을 개발하기 위해 두 개의 새로운 합작 투자를 시작했습니다. 이 회사는 160개의 추가 부지를 확보했으며, 두 개의 parcel 총 21에이커에 걸쳐 있습니다. 이로써 텍사스 남부에서의 전체 파이프라인이 약 250개의 부지로 확장되었습니다. 이 개발에는 Hacienda Olivia의 III 및 IV 단계가 포함되며, 현재 수평 개발 중인 II단계에서는 2025년 1분기까지 57개의 부지가 준비될 것으로 예상됩니다. 새로운 단계는 2025년 2분기에 수평 개발을 시작할 예정이며, 완료 목표는 2025년 말입니다.
Safe and Green Development (NASDAQ: SGD) a lancé deux nouvelles coentreprises pour développer des maisons individuelles dans le sud du Texas. L'entreprise a sécurisé 160 lots supplémentaires sur deux terrains totalisant 21 acres, élargissant son portefeuille dans le sud du Texas à environ 250 lots. Le développement comprend les Phases III et IV de Hacienda Olivia, après la Phase II qui est actuellement en cours de développement horizontal avec 57 lots prévus pour être prêts au premier trimestre 2025. Les nouvelles phases devraient commencer le développement horizontal au deuxième trimestre 2025, avec une finalisation prévue pour fin 2025.
Safe and Green Development (NASDAQ: SGD) hat zwei neue Joint Ventures gegründet, um Einfamilienhäuser im Süden von Texas zu entwickeln. Das Unternehmen hat 160 zusätzliche Parzellen auf zwei Flächen mit einer Gesamtfläche von 21 Acres gesichert und erweitert somit seine Pipeline im Süden von Texas auf etwa 250 Parzellen. Die Entwicklung umfasst die Phasen III und IV von Hacienda Olivia, nach Phase II, die sich derzeit in der horizontalen Erschließung befindet, wobei 57 Parzellen voraussichtlich im ersten Quartal 2025 bereit sein werden. Die neuen Phasen sollen im zweiten Quartal 2025 mit der horizontalen Erschließung beginnen, wobei die Fertigstellung für Ende 2025 geplant ist.
- Expansion of development pipeline by 160 lots in South Texas
- Total pipeline growth to approximately 250 lots
- Strategic expansion through joint ventures reducing capital requirements
- Clear development timeline with Phase II completion in Q1 2025
- Significant timeline to revenue generation with completion expected end of 2025
- Capital requirements and development risks associated with multiple concurrent projects
Insights
This strategic expansion in South Texas represents a significant growth opportunity for SGD. The sequential development approach of 160 new lots across two parcels demonstrates careful project phasing and risk management. The timing aligns well with the existing Hacienda Olivia Phase II development, allowing for continuous workflow and operational efficiency.
The South Texas market shows promising fundamentals for single-family home development, with the company's total pipeline now exceeding 250 lots. The phased development strategy helps manage capital deployment while maintaining steady revenue potential. The Q2 2025 start date for Phases III & IV provides adequate time for market absorption of earlier phases while potentially capitalizing on future market conditions.
The expansion into South Texas through joint ventures is a prudent strategy that minimizes direct capital exposure while maintaining growth potential. The region has seen robust housing demand, particularly in the single-family segment. The sequential development approach allows SGD to adapt to market conditions and adjust pricing strategies based on real-time market feedback from earlier phases.
The timing of completions towards end-2025 positions the company to potentially benefit from expected housing market improvements as interest rates potentially moderate. The joint venture structure suggests efficient capital allocation while sharing development risks with partners.
Hacienda Olivia Phases III & IV will be the continuation of Hacienda Olivia Phase II, which is currently undergoing horizontal development with t57 lots estimated to be ready in Q1 of 2025. Phases III & IV are slated to begin horizontal land development by Q2 of 2025 with completion expected towards the end of 2025.
CEO David Villarreal commented, "We are thrilled to expand through these new joint ventures our pipeline with these additional single family lots in
About Safe and Green Development Corporation (SG Devco)
Safe and Green Development Corporation is a 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. The thesis of development is to build strong, innovative and green, single or multifamily projects across all income and asset classes. Additionally, a majority owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform. The Platform aims to decentralize the real estate marketplace, creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment. MyVONIA Innovations LLC, a wholly own subsidiary, is the owner of MyVONIA which is an AI-powered personal assistant designed to help simplify daily tasks and improve productivity for individuals and businesses. MyVONIA aims to assist with managing both personal and professional tasks.
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions, and include statements regarding Hacienda Olivia Phases III & IV being the continuation of Hacienda Olivia Phase II, 60 lots being ready in Q1 of 2025, beginning horizontal development by Q2 of 2025 of Phases III & IV, completing Phases III & IV towards the end of 2025, continuing to build on the momentum and creating an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment.
These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions, and expected future developments, as well as other factors we believe are appropriate in the circumstances. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company's ability to commence construction of Hacienda Olivia Phases III & IV as planned, the Company's ability to deliver 57 lots from Hacienda Olivia Phase II in Q1 of 2025, the Company's ability to begin horizontal development by Q2 of 2025 of Phases III & IV and complete Phases III & IV towards the end of 2025, the Company's ability to create an all-in-one solution that brings banks, institutions, home builders, clients, agents, vendors, gig workers, and insurers into a seamlessly integrated and structured AI-driven environment, the Company's ability to obtain the capital necessary to fund its activities, the Company's ability to monetize its real estate holdings, and other factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and its subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and the Company undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.
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SOURCE Safe and Green Development Corporation
FAQ
How many new lots did Safe and Green Development (SGD) acquire in Texas?
What is SGD's total development pipeline in South Texas after the new acquisition?
When will Hacienda Olivia Phases III & IV development begin and complete?
How many lots are under development in Hacienda Olivia Phase II?
