MIAMI, Sept. 4,
2024 /PRNewswire/ -- Safe and Green Development
Corporation (NASDAQ: SGD) ("SG Devco or the "Company"), a leading
real estate and technology development company, today announced a
new joint venture with Properties by Milk & Honey LLC ("Milk
& Honey"), a Texas-based real
estate development firm. The joint venture, named Pulga
Internacional LLC, will focus on the development and construction
of an eco-friendly retail outlet on an 18-acre property in
Palmview, Texas.
The 18-acre property, which will be conveyed by Milk & Honey
to Pulga Internacional LLC, will be converted into an eco-friendly
retail outlet using shipping containers.
"We are excited to partner with Milk & Honey on this
innovative project," said David
Villarreal, CEO of SG Devco. "This joint venture aligns with
our commitment to sustainable eco-friendly development projects and
our vision of creating versatile, community-oriented spaces. By
repurposing shipping containers, we are not only minimizing waste
but also providing a cost-effective solution that meets the needs
of local businesses and residents."
Milk & Honey will play a crucial role in ensuring that all
necessary permits, licenses, and approvals are obtained for the
project. They will also assist with the ongoing management and
coordination of the development to ensure that it is completed on
time and within budget. SG Devco will oversee and manage all
aspects of the financial planning as well as managing the
repurposing and construction of shipping containers.
The joint venture, Pugla Internacional LLC, is expected to break
ground on the development later this year, with the project
completion anticipated in mid-2025. This development marks a
significant milestone in the Company's strategic expansion into
Texas, further strengthening its
portfolio of innovative and environmentally friendly real estate
projects.
About Safe and Green Development Corporation
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.
About Properties by Milk & Honey LLC
Properties by Milk & Honey LLC is a Texas-based real estate development firm
specializing in residential and commercial projects. The company is
dedicated to delivering high-quality developments that meet the
needs of the communities they serve.
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 plans to
develop and construct an eco-friendly retail outlet on an 18-acre
property in Palmview, Texas
through a new joint venture with Milk & Honey, creating
versatile, community-oriented spaces, minimizing waste and
providing a cost-effective solution that meets the needs of local
businesses and residents by repurposing shipping containers,
ensuring that all necessary permits, licenses, and approvals are
obtained for the project, completing the project on time and within
budget, breaking ground on the storage facility later this year
with the project completion anticipated in mid-2025 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 and complete the joint venture project in Palmview, Texas as planned, 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
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SOURCE Safe and Green Development Corporation