Business
Dream Homes and Development Corporation is Pleased to Update Shareholders on 77-unit Development Progress in Gloucester County, Filing of the Company’s Financial Reports and General Business
Dream Homes and Development Corporation is Pleased to Update Shareholders on 77-unit Development Progress in Gloucester County, Filing of the Company’s Financial Reports and General Business.
About this update from Dream Homes & Development Corporation
[{"type":"text","content":"\n FORKED RIVER, NJ, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Dream Homes & Development Corporation (OTC Pink: DREM), a licensed new home builder and general contractor in New Jersey, recently filed its amended Quarterly Report for the period ended March 31, 2018, following an announcement that the Company had changed auditing firms. Dream Homes has also received Wetlands Delineation Approval from the NJ Department of Environmental Protection for a 77-lot subdivision in Gloucester County, NJ. Dream Homes is pleased to announce that the Company will also be filing its amended quarterly reports for the periods ended June 30, 2019 and September 30, 2019 in the next few weeks. With the addition of its new independent auditor Boyle CPA LLC on July 22, 2019, the Company is positioned from this point forward to file the 2019 Form 10-K, as well as all future filings in a timely manner. The Company just received the NJDEP (Department of Environmental Protection) ratification of the Wetlands Delineation, which was submitted in June of 2019. The approval/ratification of the Wetlands line, means that the NJDEP has officially agreed with the Company’s proposed development structure, and has approved the 77 lots that the Company has proposed. Located in a growing township in Gloucester County, the property is served by public sewer and water, and will be marketed as an age-restricted, manufactured home community. It is anticipated that the Company will finish development and acquire final approvals in the latter part of 2020. Dream Homes CEO Mr. Vincent Simonelli stated, “In addition to the exciting environmental developments of our 77 lot age-restricted property, our sales and net income in 2019 have increased significantly year over year, and the company continues to enjoy the benefits of the increase in volume of new home construction versus renovation/elevation work.” Mr. Simonelli continued, “Our efforts to build our backlog of new home and land inventory continues. With the Wetlands approval for the Gloucester County property, we’re adding an additional 77 units to our inventory. The new construction portion of the company offers us a better opportunity to scale the company to greater sales volume. With several of our new developments that are currently in the latter development stages coming online in in 2020...