Community Redevelopment Announces the Purchase of Two Development Projects in Washington DC
Jan 11, 2024
WASHINGTON, D.C. (Jan. 11, 2024) (ACCESSWIRE) – Community redevelopment is pleased to announce that it is under contract to purchase two new multifamily buildings in Washington DC. This will encompass 71 condominium/apartment units with a total asset value of $26 million once renovations have been completed. CEO Richard Balles stated "Community Redevelopment Inc. continues to accumulate rental properties in prime locations. The current market landscape is filled with tremendous value propositions and opportunities to continue expanding our portfolio."
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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.
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.