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Community Redevelopment Frames Plans For Growth; Signs LOI For Residential Joint Venture In San Antonio, TX
Community Redevelopment Frames Plans For Growth; Signs LOI For Residential Joint Venture In San Antonio, TX.
About this update from Community Redevelopment Inc.
[{"type":"text","content":"\n MIAMI, Feb. 07, 2022 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) (\"the Company\"), a developer of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, announced today that it has signed an LOI for a residential joint venture in San Antonio, TX. The development will feature 113 duplex homes consisting of 226 housing units with 3 bedrooms, 1.5 bathrooms, and a one car garage. The project will also have a clubhouse, a pool, and a playground area. The terms of the LOI for the Joint Venture call for Community Redevelopment to be the majority of a newly formed LLC, which will be utilized to acquire, develop, rent, and ultimately sell the property. A Massachusetts based developer will be the joint venture partner. Community Redevelopment offers investors an opportunity to participate in the growth and upside of trends in the real estate market by being a shareholder. As an owner of shares of common stock, investors experience significantly increased liquidity as compared to owning real estate. Garfield Antonio, President of Community Redevelopment, said, \"San Antonio relies heavily on tourism, and while it was hit hard at the height of the pandemic, it has also rebounded quickly and shown steady growth. San Antonio has an over 300-year military presence, graduating almost 40,000 military trainees making Joint Base San Antonio the largest U.S. Installation. Beyond the military influence, San Antonio has a growing cyber security sector, start-up companies, along with banking and financial services. We believe these assets will combine for even stronger growth in San Antonio, pushing demand Northeast to the area between San Antonio and Austin - the area where this development is located – creating a tremendous need for housing that is affordable.\" About Community Redevelopment Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. Community Redevelopment Inc. is a full-service real estate company with a management team that has extensive experience in acquiring, developing, constructing, and managing high-quality multifamily, and retail properties in attractive markets throughout the Mid-At...