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Community Redevelopment Inc. Formally Launches Joint Venture with Black Veterans Empowerment Council Inc.

This partnership will better help pre-determine the specific housing needs of our veterans.

Dec 4, 2023

WASHINGTON, D.C. (Dec. 4, 2023) (ACCESSWIRE) Community Redevelopment Inc. (OTC PINK:CRDV), a public company dedicated to designing, building and developing neighborhoods for traditionally underinvested communities, recently executed an affiliation agreement with the Black Veterans Empowerment Council Inc. (BVEC).

This strategic affiliation expands the objectives of each organization. "Our perspective here at CRDV, is to build and create true homes for traditionally underinvested communities," said CRDV CEO Richard Balles. "By any objective standard, the number of Black veterans who need adequate housing is appalling. Combining our resources with the BVEC, allows us to pre-determine veterans' housing needs as we acquire and then re-design properties to meet specific needs of these heroes."

The Urban Institute projected that approximately 3.5 million people experience homelessness in America each year, of which 23 percent of all homeless persons and 33 percent of all homeless men are veterans. Furthermore, the Department of Veterans Affairs (VA) estimates that 107,000 veterans are homeless on any given night.

Even with VA assistance, there are still more than 100,000 homeless veterans without any aid. "In fiscal year 2021 we served around 200,000 veterans and approximately 39% of those were African Americans," said previous Executive Director of VA Homeless Programs, Monica Diaz.

"Building with a wider lens for both the tenant and local community paired with the art of custom design is what makes this affiliation perfect for helping address this crisis," said BVEC‘s Chairman and President Shawn Deadwiler. "If we don't look to house our Black veterans first, we have lost the battle of stabilizing the Black veteran community. Stable, reliable housing is the first crucial building block for getting our homeless population back on their feet. I'm thrilled to be working with CRDV who understands this and is ready to advance our goals."

Mr. Deadwiler further shared: "This is a win for CRDV due to the need in the Black veteran community for housing. We have been advocating multiple cities for this exact type of approach. Black veterans and all veterans deserve better than to sleep on the streets. The fact that CRDV, as a business and public company, was already focused on this community truly surprised us. Our ability to qualify veterans awaiting housing allows CRDV to redesign acquired properties for their specific needs."

 

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ABOUT COMMUNITY REDEVELOPMENT

Community Redevelopment (CRDV) is a publicly traded real estate growth company focused on creating housing for all; with an emphasis on naturally occurring affordable housing (NOAH). Their objective is to develop sustainable communities that thrive by investing in urban neighborhoods and first tier suburbs; they work to acquire, develop, redevelop, or create joint ventures with minority and women-led developers - adding additional properties and growing their portfolio steadily over time. CRDV has a first-class team that brings significant combined experience of over 70 years in real estate development, finance, and technology. Visit communityredevelopment.net.

FORWARD-LOOKING STATEMENTS

This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest 10-Q Report filed on August 29th, 2022. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.

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