Safe and Green Development Corporation's Sugar Phase Joint Venture Announces Closing on 22 Lots and Financing for Vertical Construction in South Texas

Core Viewpoint - Safe and Green Development Corporation has successfully closed on the purchase of 22 lots in South Texas for $440,000, enabling the next phase of its Sugar Phase residential development project, which includes securing a loan of approximately$1,092,000 for the construction of 7 new homes [1][2][3] Group 1: Project Development - The next phase of construction aims to continue the development of affordable and sustainable housing in South Texas, building on the success of the initial five homes already listed for sale [2][3] - The company expects to receive permits and begin construction within 30 days of closing, with the first set of 7 homes projected to be completed by early Q2 2025, contributing to a total of 13 homes under construction in Q1 2025 [4][3] - The company is on track to meet its goal of completing 55 homes in 2025, demonstrating its commitment to expanding its portfolio of high-quality homes in the region [4][3] Group 2: Company Overview - Safe and Green Development Corporation, formed in 2021, focuses on acquiring and developing properties into green single or multi-family projects, with a subsidiary, Majestic World Holdings LLC, utilizing a real estate AI platform to enhance margins on homes sold [5] - The company also has another subsidiary, MyVONIA Innovations LLC, which offers an AI-powered personal assistant aimed at improving productivity for individuals and businesses [5]