Safe and Green Holdings Corp (SGBX)

[georgie18]

SGBX...$4.95...in the P/M...June 18, 2021 08:30 AM Eastern Daylight Time
NEW YORK--(BUSINESS WIRE)--SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator and fabricator of container-based structures, announced today that the Company has broken ground on its Monticello Mews construction project, located in the Catskills region of New York. Monticello Mews is a multi-family development project with 180 townhomes; the first phase will consist of 110 one- and two-bedroom units, with amenities including a clubhouse, gym, and outdoor green spaces.

“We are excited to break ground at Monticello Mews, and we are looking forward to bringing the much-needed workforce housing to the market,” Paul Galvin, Chairman and CEO noted. “We feel strongly that this area has seen recent job growth dramatically out-pace housing supply, and we look forward to helping to alleviate the need for housing, and contributing to that the long term economic growth of the community.”

SG Blocks previously announced that the Company has both a loan secured by, and a carried interest in, the project, therefore serving as both lender and economic partner. The Company anticipates the project to be completed in third quarter 2023, and will provide further updates in the future as the project advances.