{"id":500056,"date":"2021-06-02T08:48:25","date_gmt":"2021-06-02T12:48:25","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-acquires-a-membership-interest-in-an-affordable-housing-entity-in-atlanta-georgia\/"},"modified":"2021-06-02T08:48:25","modified_gmt":"2021-06-02T12:48:25","slug":"sgb-development-corp-acquires-a-membership-interest-in-an-affordable-housing-entity-in-atlanta-georgia","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sgb-development-corp-acquires-a-membership-interest-in-an-affordable-housing-entity-in-atlanta-georgia\/","title":{"rendered":"SGB Development Corp. Acquires a Membership Interest in an Affordable Housing Entity in Atlanta, Georgia"},"content":{"rendered":"

<\/p>\n

SGB Development Corp. Acquires a Membership Interest in an Affordable Housing Entity in Atlanta, Georgia<\/b><\/p>\n

Company plans to build 70,000 SF residential apartment complex in the greater Atlanta area for affordable housing units.<\/i><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nSG Blocks, Inc. (NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of container-based structures, announced today that SGB Development Corp. (\u201cSGB DevCorp\u201d), a subsidiary of SG Blocks, has acquired a membership interest to build 70,000 sq. ft of affordable housing in the Atlanta, Georgia metropolitan area to be known as \u201cNorman Berry Village\u201d. SGB DevCorp has partnered with CMC, a New York City-based real estate development firm with national expertise, with ZT Architecture & Land Development and Community Development Consortium providing design build services. CMC has previously engaged SG Blocks to complete a design build project known as Ridge Avenue, also in Atlanta, which is currently in the planning stage.\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210602005395\/en\/<\/a><\/p>\n

\"Photo<\/p>\n

Photo credit: ZT Architecture & Land Development<\/p>\n<\/div>\n

\nUnits will be constructed at the Company\u2019s SG Echo campus in Durant, Oklahoma, and shipped to Atlanta. SGB DevCorp will control the planning and construction process, netting revenue from design, manufacturing, site work, and asset ownership stake. The project will draw on the experienced leadership of local developer Shaun Belle, CMC President.\n<\/p>\n

\n\u201cWe are excited to be partnering with SGB DevCorp., on Norman Berry Village,\u201d Shaun Belle noted. \u201cIt is an expansion of our relationship with SG Blocks. CMC believes modular construction represents the best value to the end user and we will continue to work vigorously in finding new sites to bring to market.\u201d\n<\/p>\n

\n\u201cWe believe in the opportunities Atlanta offers SGB DevCorp, and that expanding in the Atlanta market is the right choice at the right time, given the need for affordable housing,\u201d Paul Galvin, Chairman and CEO of SG Blocks noted. \u201cSGB DevCorp solutions can address directly some of the most pertinent issues in the U.S. housing shortage; as we build efficiently without losing design quality, and we operate at lower costs. It\u2019s a win for everyone.\u201d\n<\/p>\n

\n\u201cSGB DevCorp.\u2019s strategy is and will remain to find the best local developers in emerging markets to partner within the delivery of safe and green affordable housing,\u201d Galvin explained.\n<\/p>\n

\nThe Company anticipates this to be the first of many projects in which SGB DevCorp develops, designs, constructs and delivers either single family or multi-family homes, whether that be for purchase or for rent, depending on specific market need, with both affordability and quality in mind, given the nature of housing in the area.\n<\/p>\n

\nNorman Berry Village is expected to consist of two buildings with 132 units, a mixture of one- and two-bedroom apartments. The land is located in the Atlanta, Georgia metropolitan area within East Point, Fulton County, Georgia.\n<\/p>\n

\n\u201cAtlanta\u2019s economy has had a positive growth trajectory, with an influx of new and exciting corporations setting up shop. We\u2019re pleased to be adding to this booming economy, although we know there is still work to be done,\u201d Shaun Belle, President of CMC noted.\n<\/p>\n

About SG Blocks, Inc.<\/b><\/p>\n

\nSG Blocks, Inc. is a premier innovator in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. Each project starts with GreenSteel\u2122, the structural core and shell of an SG Blocks building, and then is customized to client specifications. For more information, visit www.sgblocks.com<\/a>.\n<\/p>\n

About CMC Development Group LLC<\/b><\/p>\n

\nCMC Development Group\u2019s goal is to improve the economic and environmental conditions of emerging urban markets through the development, acquisition and management of affordable residential and commercial properties. The core of CMC\u2019s business is developing and managing residential and commercial real estate in Metropolitan New York and Atlanta area markets. CMC supports positive growth of urban neighborhoods it develops in through its Future Developers Program, Community Based Workforce and its Buy Local Construction Service Providers Program. CMC is focused on capitalizing on economic opportunities in urban areas while developing properties that focus on solid economic return, affordability and green building sustainability. CMC is a NYS Certified MBE with offices in NY and Atlanta, GA.\n<\/p>\n

About ZT Architecture and Land Development<\/b><\/p>\n

ZT Architecture + Land Development Inc.<\/b> is an innovative Architecture, Design\/Build & Development firm with offices located in: Los Angeles and Atlanta, GA. Our firm was founded on the principle and belief that architecture, is the design and organization of sculptured shapes and forms within space, acting as the canvas. If life is suspended animation, these designed suspended shapes and forms give context to our experience, through the relative, objectivity of each form and shape to each other. We feel therein lies the basis for environmentally sensitive, organically evolved, and sustainable, designed communities. Architecture has the capacity to help shape one\u2019s experience. Our projects, big or small, public or private, high-end or affordable, all work to engage the public in a meaningful, thoughtful and poetic way, to create and leave a lasting impression and experience.\n<\/p>\n

About Community Development Consortium<\/b><\/p>\n

The Community Development Consortium, LLC (CDC)<\/b> was created as a for profit vehicle to manage the assets, and other business\/development operations of the non-profit, FAC Services. Our current structure couples our public and private sector community design\/development and management experience and expertise to assist in bringing projects and programs to underserved communities\n<\/p>\n

Safe Harbor Statement<\/span><\/b><\/p>\n

\nForward-Looking Statements Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements regarding plans to build 70,000 sq. ft of affordable housing in the Atlanta, Georgia metropolitan area to be known as Norman Berry Village, the Atlanta market being the right choice at the right time and Norman Berry Village being the first of many projects in which SGB DevCorp develops, designs, constructs and delivers single family or multi-family homes. While SG Blocks believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company\u2019s ability to develop Norman Berry Village as planned, the Company\u2019s ability to position itself for future profitability, the Company\u2019s ability to maintain compliance with the NASDAQ listing requirements, and the other factors discussed in the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the SEC, including subsequent periodic reports on Forms 10-Q and 8-K. The information in this release is provided only as of the date of this release, and we undertake no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210602005395\/en\/<\/a><\/span><\/p>\n

Investors:
\n
<\/b>Stephen Swett
\n
(203) 682-8377
\n
investors@sgblocks.com<\/a><\/p>\n

KEYWORDS:<\/b> New York Georgia United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Packaging Architecture Residential Building & Real Estate Manufacturing Commercial Building & Real Estate Construction & Property<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n\n\n\n
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Photo credit: ZT Architecture & Land Development<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

SGB Development Corp. Acquires a Membership Interest in an Affordable Housing Entity in Atlanta, Georgia Company plans to build 70,000 SF residential apartment complex in the greater Atlanta area for affordable housing units. NEW YORK–(BUSINESS WIRE)– SG Blocks, Inc. (NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of container-based structures, announced today that SGB Development Corp. (\u201cSGB DevCorp\u201d), a subsidiary of SG Blocks, has acquired a membership interest to build 70,000 sq. ft of affordable housing in the Atlanta, Georgia metropolitan area to be known as \u201cNorman Berry Village\u201d. SGB DevCorp has partnered with CMC, a New York City-based real estate development firm with national expertise, with ZT Architecture & Land Development and Community Development … <\/p>\n

Continue reading “SGB Development Corp. Acquires a Membership Interest in an Affordable Housing Entity in Atlanta, Georgia”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-500056","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSGB Development Corp. 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(NASDAQ: SGBX) (\u201cSG Blocks\u201d or the \u201cCompany\u201d), a leading designer, innovator and fabricator of container-based structures, announced today that SGB Development Corp. (\u201cSGB DevCorp\u201d), a subsidiary of SG Blocks, has acquired a membership interest to build 70,000 sq. ft of affordable housing in the Atlanta, Georgia metropolitan area to be known as \u201cNorman Berry Village\u201d. SGB DevCorp has partnered with CMC, a New York City-based real estate development firm with national expertise, with ZT Architecture & Land Development and Community Development … Continue reading "SGB Development Corp. 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