Safe and Green Development Corporation Inks Contracts to Sell Out 1st Phase of Sugar Joint Venture Developments
Safe and Green Development (NASDAQ: SGD) has announced that all 5 homes from the first phase of its Sugar Joint Venture with Milk & Honey have been placed under contract. The properties, located in Edinburg and Weslaco, Texas, are set to close around April 11, 2025. Four homes in Edinburg are contracted at $195,000 each, while one property in Weslaco is under contract for $170,000.
The successful marketing was conducted in partnership with Madilyn Garza of Element Realty and Jose Lopez of the Opulent Real Estate Group. The company is proceeding with its next phase of 7 homes, expected to be market-ready by Q2 2025, maintaining progress toward their goal of completing 55 homes in 2025.
Safe and Green Development (NASDAQ: SGD) ha annunciato che tutte e 5 le case della prima fase della sua Joint Venture Sugar con Milk & Honey sono state messe sotto contratto. Le proprietà, situate a Edinburg e Weslaco, Texas, sono previste per la chiusura intorno all'11 aprile 2025. Quattro case a Edinburg sono contrattate a $195.000 ciascuna, mentre una proprietà a Weslaco è sotto contratto per $170.000.
Il marketing di successo è stato condotto in collaborazione con Madilyn Garza di Element Realty e Jose Lopez del Opulent Real Estate Group. L'azienda sta procedendo con la sua prossima fase di 7 case, che si prevede siano pronte per il mercato entro il secondo trimestre del 2025, mantenendo i progressi verso il loro obiettivo di completare 55 case nel 2025.
Safe and Green Development (NASDAQ: SGD) ha anunciado que las 5 casas de la primera fase de su Joint Venture Sugar con Milk & Honey han sido puestas bajo contrato. Las propiedades, ubicadas en Edinburg y Weslaco, Texas, están programadas para cerrarse alrededor del 11 de abril de 2025. Cuatro casas en Edinburg están contratadas a $195,000 cada una, mientras que una propiedad en Weslaco está bajo contrato por $170,000.
El exitoso marketing se llevó a cabo en asociación con Madilyn Garza de Element Realty y Jose Lopez del Opulent Real Estate Group. La empresa está avanzando con su próxima fase de 7 casas, que se espera estén listas para el mercado para el segundo trimestre de 2025, manteniendo el progreso hacia su objetivo de completar 55 casas en 2025.
Safe and Green Development (NASDAQ: SGD)는 Milk & Honey와의 설탕 합작 투자 첫 번째 단계에서 5채의 주택이 모두 계약되었음을 발표했습니다. 텍사스 에딘버그와 웨슬라코에 위치한 이들 부동산은 2025년 4월 11일경에 거래가 완료될 예정입니다. 에딘버그의 4채는 각각 $195,000에 계약되었으며, 웨슬라코의 1채는 $170,000에 계약되었습니다.
성공적인 마케팅은 Element Realty의 Madilyn Garza와 Opulent Real Estate Group의 Jose Lopez와 협력하여 진행되었습니다. 회사는 2025년까지 55채의 주택을 완공하기 위한 목표를 유지하며, 2025년 2분기까지 시장 준비가 완료될 것으로 예상되는 7채의 다음 단계로 진행하고 있습니다.
Safe and Green Development (NASDAQ: SGD) a annoncé que les 5 maisons de la première phase de son partenariat Sugar avec Milk & Honey ont été mises sous contrat. Les propriétés, situées à Edinburg et Weslaco, au Texas, devraient être finalisées autour du 11 avril 2025. Quatre maisons à Edinburg sont sous contrat à 195 000 $ chacune, tandis qu'une propriété à Weslaco est sous contrat pour 170 000 $.
Le marketing réussi a été réalisé en partenariat avec Madilyn Garza d'Element Realty et Jose Lopez du Opulent Real Estate Group. L'entreprise avance avec sa prochaine phase de 7 maisons, qui devrait être prête pour le marché d'ici le deuxième trimestre 2025, tout en maintenant ses progrès vers l'objectif de compléter 55 maisons en 2025.
Safe and Green Development (NASDAQ: SGD) hat bekannt gegeben, dass alle 5 Häuser aus der ersten Phase seines Sugar Joint Venture mit Milk & Honey unter Vertrag genommen wurden. Die Immobilien, die sich in Edinburg und Weslaco, Texas, befinden, sollen um den 11. April 2025 herum abgeschlossen werden. Vier Häuser in Edinburg sind jeweils für 195.000 $ unter Vertrag, während eine Immobilie in Weslaco für 170.000 $ unter Vertrag steht.
Das erfolgreiche Marketing wurde in Zusammenarbeit mit Madilyn Garza von Element Realty und Jose Lopez von der Opulent Real Estate Group durchgeführt. Das Unternehmen geht mit seiner nächsten Phase von 7 Häusern voran, die voraussichtlich im 2. Quartal 2025 marktreif sein werden, und hält den Fortschritt auf dem Weg zu ihrem Ziel, 2025 insgesamt 55 Häuser zu bauen.
- All 5 homes from first phase successfully contracted for sale
- Total contract value of $950,000 from first phase
- On track to meet 2025 target of 55 homes
- Next phase of 7 homes already in development
- None.
Insights
The successful contracting of all five homes in the first phase of SGD's Sugar Joint Venture represents a significant operational milestone, particularly in the current Texas real estate market. The uniform pricing of
The rapid absorption of these properties is particularly noteworthy. With all units under contract before completion, SGD demonstrates strong market positioning and effective partnership with local realty groups. This success in the entry-level housing segment - where the greatest demand exists in Texas - indicates sound market targeting.
The company's execution timeline is aggressive but achievable. With 5 homes contracted and 7 more planned for Q2 2025, SGD is maintaining a steady pipeline toward their 55-home annual target. This represents potential revenue of approximately
Two critical factors emerge from this announcement: First, the company's ability to maintain sales velocity will be important for achieving their 2025 goals. The quick absorption of the first phase suggests strong demand, but sustaining this pace requires consistent execution in construction and marketing. Second, the standardized pricing in Edinburg (
The strategic selection of Edinburg and Weslaco - both part of the rapidly growing Rio Grande Valley - positions SGD in markets with strong fundamentals driven by population growth and housing affordability challenges in larger Texas metros. This regional focus could provide sustained demand for their product offering.
As a result of successful marketing efforts by the Company and its Realty partners the following properties are now under contract for sale with closing expected on or about April 11, 2025:
- 3005 Rio Red Circle in Edinburg,
Texas under contract for$195,000 - 2939 Rio Red Circle in Edinburg,
Texas , under contract for$195,000 - 2965 Rio Red Circle in Edinburg,
Texas , under contract for$195,000 - 2953 Rio Red Circle in
Edinburg, Texas , under contract for$195,000 - 230 N Pino Street in
Weslaco, Texas , under contract for$170,000
The successful marketing of these properties was led in partnership by the Company, Madilyn Garza of Element Realty and Jose Lopez of the Opulent Real Estate Group, whose efforts played a key role in generating interest and securing buyers.
As previously announced, the Company expects to receive permits and begin construction on the next set of 7 homes which is expected to be completed and ready for market by Q2 2025. This pace sets the Company on track to complete its previously announced goal of 55 homes for 2025.
About Safe and Green Development Corporation (SG Devco)
Safe and Green Development Corporation is a real estate development company. Formed in 2021, it focuses primarily on the direct acquisition and indirect investment in properties nationally that will be further developed in the future into green single or multi-family projects. Additionally, a wholly owned subsidiary of SG DevCo, Majestic World Holdings LLC, is a prop-tech company that has created a real estate AI Platform the Company integrates to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance. 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.
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 closing the sale of five properties from the first phase of the Sugar Joint Venture with Milk & Honey, LLC on or about April 11, 2025, receiving permits and beginning construction on the next set of 7 homes, completing the next set of 7 homes and having them ready for market by Q2 2025, being on track to complete the Company's previously announced goal of 55 homes for 2025, using Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance and MyVONIA simplifying daily tasks and improve productivity for individuals and businesses.
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 close the sale of five properties from the first phase of the Sugar Joint Venture with Milk & Honey, LLC as planned, the Company's ability to have the next set of 7 homes ready for market by Q2 2025, the Company's ability to achieve its goal of 55 homes for 2025, the Company's ability to use Majestic World Holdings LLC's real estate AI Platform to strategically increase the margins on homes sold by facilitating mortgage services and down payment assistance, MyVONIA's ability to simplify daily tasks and improve productivity, 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.
For investor relations and media inquiries, please contact:
Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461
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SOURCE Safe and Green Development Corporation
FAQ
What is the total value of SGD's first phase contracts in the Sugar Joint Venture?
When are the closings expected for SGD's first phase properties?
How many homes is SGD planning to complete in 2025?
When will SGD's second phase of 7 homes be ready for market?
Where are SGD's Sugar Joint Venture properties located?
