Safe and Green Development Corporation Lists Sugar Phase 1 Homes for Sale for Combined Price of over $1M

Rhea-AI Summary

Safe and Green Development (NASDAQ: SGD) has announced that its first 5 homes from the Sugar Phase 1 development are approaching completion and have been listed for sale, with a combined listing price exceeding $1 million. The company has implemented a strategic approach considering regional housing affordability concerns, aiming to create value for both buyers and company objectives.

SGD is employing a multi-agent strategy alongside its in-house technology to market the properties. The company plans to enhance profit margins through partnerships offering mortgage services and downpayment assistance. All property listings are publicly available through Zillow and HAR platforms, with four properties located on Rio Red Circle in Edinburg, TX, and one on N Pino St in Weslaco, TX.

Positive

• First 5 homes from Sugar Phase 1 development nearing completion
• Combined listing value exceeds $1 million
• Multiple revenue streams through mortgage services and downpayment assistance partnerships

Negative

• None.

News Market Reaction

-0.66%

1 alert

-0.66% News Effect

On the day this news was published, SGD declined 0.66%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

MIAMI, Jan. 6, 2025 /PRNewswire/ -- Safe and Green Development Corporation (NASDAQ: SGD) ("SGD" or the "Company"), a real estate development and innovation company, is announcing that its first 5 homes from the Sugar Phase 1 development are nearing completion and have all been listed for sale. In the development of these homes, the Company has undertaken serious consideration for the current regional housing affordability issues and accordingly created a value proposition for both the buyers benefit and the Company's objectives as well in having sound and positive financial results from the sales of these homes. 

The Company is utilizing a multi-agent strategy in addition to its in-house technology to facilitate the sale of the homes. The Company additionally expects to leverage its partnerships for mortgage services as well as downpayment assistance to increase the margins on each home sold. The listings for the homes are publicly available and can be found at the following links:

• https://www.zillow.com/homedetails/230-N-Pino-St-Weslaco-TX-78596/52760518_zpid/
• https://www.har.com/homedetail/3005-rio-red-cir-edinburg-tx-78541/16900921
• https://www.har.com/homedetail/2965-rio-red-cir-edinburg-tx-78541/16900920
• https://www.har.com/homedetail/2953-rio-red-cir-edinburg-tx-78541/16900919
• https://www.zillow.com/homedetails/2939-Rio-Red-Cir-N-Edinburg-TX-78541/443719804_zpid/

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 the Company's homes from the Sugar Phase 1 development nearing completion, leveraging partnerships for mortgage services as well as downpayment assistance to increase the margins on each home sold, 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 deliver and sell finished homes for the Sugar Phase development as planned, the Company's ability to increase the margins on each home sold by leveraging its partnerships for mortgage services as well as downpayment assistance, 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.

For investor relations and media inquiries, please contact:

Barwicki Investor Relations
Andrew@Barwicki.com
516-662-9461

View original content:https://www.prnewswire.com/news-releases/safe-and-green-development-corporation-lists-sugar-phase-1-homes-for-sale-for-combined-price-of-over-1m-302342934.html

SOURCE Safe and Green Development Corporation

FAQ

What is the total value of SGD's Sugar Phase 1 homes listed for sale?

The combined listing price for the five homes in Sugar Phase 1 development exceeds $1 million.

Where are SGD's Sugar Phase 1 homes located?

Four homes are located on Rio Red Circle in Edinburg, TX, and one home is on N Pino St in Weslaco, TX.

How is SGD planning to maximize profits from the Sugar Phase 1 home sales?

SGD is using a multi-agent strategy, in-house technology, and partnerships for mortgage services and downpayment assistance to increase margins on each home sold.

What strategy is SGD using to address regional housing affordability issues?

SGD has created a value proposition that considers both buyer benefits and company objectives, supported by downpayment assistance and mortgage services partnerships.