Business
Dream Homes & Development Provides Updates on Construction Portfolio and Initiates Investor Awareness Strategy
Dream Homes & Development Provides Updates on Construction Portfolio and Initiates Investor Awareness Strategy.
About this update from Dream Homes & Development Corporation
[{"type":"text","content":"FORKED RIVER, NJ / ACCESSWIRE / March 15, 2018 / Dream Homes & Development Corporation (OTCQB: DREM), a licensed new home builder and general contractor in New Jersey, is pleased to announce a full progress report concerning its significant and growing new construction portfolio. The Company plans to issue further updates upon the filing of its year-end 2017 annual report within 30 days. Additionally, Dream Homes is activating a proven program to educate investors about DREM stock.Dream Homes announces updates on the following projects and developments in the business: A third revised letter of intent has just been offered to acquire 70 townhouse lots in Bayville, NJ. Discussions have been active since October of 2017 and this transaction is moving forward towards a contract. This property is approved and unimproved. The project is slated to begin in mid-2018 and has a retail value of $17 million. A new letter of intent has just been offered to acquire property to develop 15 single family homes in Bayville, NJ and is moving forward to contract. This property is unapproved and unimproved. The project is slated to begin in late 2018 and has a retail value of $6 million. Dream Homes exhibited at the New Jersey Home Show in late January held at Brookdale College in Lincroft, NJ. This show was considered very successful resulting in over 38 new active prospects, of which 22 homeowners were interested in having new homes built or their existing homes elevated and renovated.In addition to these new planned developments, Dream issues the following progress report: Dream just received CAFRA approval for the 58-unit townhouse development in Lacey Township and was deemed technically complete Monday, November 13. A planning board hearing for preliminary and final site plan and subdivision approval occurred on December 11, 2017, which produced input and comments from the Planning Board as well as surrounding homeowners. It is anticipated that this project will be heard again on the May 2018 meeting. Sales at retail for this development should be in the $16 million-dollar range. Dream submitted a use variance to the Board of Adjustment in Berkeley Township for approval on 13 single family lots, which are fully improved. This application was deemed complete by the town engineer and is scheduled for hearing on April 11, 2018. Assuming zonin...