NEW YORK–(BUSINESS WIRE) – SG Blocks, Inc. (NASDAQ: SGBX) (“SG Blocks” or the “Company”), a leading designer, innovator, and manufacturer of containerized structures, today announced that SGB Development Corp. (“SGB DevCorp”), a subsidiary of SG Blocks, has made a membership stake to build 70,000 square feet of affordable housing in the metropolitan area of ​​Atlanta, Georgia known as Norman Berry Village. SGB ​​DevCorp has partnered with CMC, a New York City-based real estate development company with national expertise, with ZT Architecture & Land Development and the Community Development Consortium providing design building services. CMC previously engaged SG Blocks to complete a design-build project called Ridge Avenue, also in Atlanta, which is currently in the planning stages.

The units will be built on the company’s SG Echo campus in Durant, Oklahoma and shipped to Atlanta. SGB ​​DevCorp will control the planning and construction process and offset the income from design, manufacture, construction site work and ownership shares. The project will draw on the experienced leadership of local developer Shaun Belle, President of CMC.

“We are excited about the partnership with SGB DevCorp. in the Norman Berry Village, ”says Shaun Belle. “It’s an extension of our relationship with SG Blocks. CMC believes that the modular design is the best value for the end user and we will continue to work hard to find new locations to bring it to market. ”

“We believe in the opportunities Atlanta offers to SGB DevCorp and that expanding into the Atlanta marketplace is the right choice at the right time given the need for affordable housing,” said Paul Galvin, chairman and CEO of SG Blocks. “SGB DevCorp’s solutions can directly address some of the major housing problems in the US; because we build efficiently without sacrificing design quality and we work at lower costs. It is a win for everyone. ”

“The strategy of SGB DevCorp. is and remains to find the best local developers in emerging markets to partner with in providing safe, green, affordable housing, ”said Galvin.

The company expects this to be the first of many projects where SGB DevCorp is developing, planning, building and delivering single or multi-family homes, be it for sale or rent, depending on specific market needs, both at affordable prices and quality in the Eye, given the type of living in the area.

Norman Berry Village will consist of two buildings with 132 units, a mixture of one and two-room apartments. The property is located in the greater Atlanta, Georgia area of ​​East Point, Fulton County, Georgia.

“Atlanta’s economy is on a positive growth path with an influx of new and exciting companies that have settled down. We are excited to be contributing to this booming economy, knowing that there is still a lot to be done, ”said Shaun Belle, President of CMC.

About SG Blocks, Inc.

SG Blocks, Inc. is a leading innovator in advancing and promoting the use of code engineering freight containers for safe and sustainable construction. The company offers a product that exceeds many standard building codes and also helps developers, architects, builders and property owners achieve greener building, faster execution and stronger, higher value buildings. Every project starts with GreenSteel ™, the structural core and shell of an SG Blocks building, and is then tailored to customer specifications. More information is available at www.sgblocks.com.

About CMC Development Group LLC

CMC Development Group’s goal is to improve the economic and environmental conditions of emerging urban markets through the development, acquisition and management of affordable residential and commercial real estate. The core of CMC’s business is the development and management of residential and commercial real estate in the metropolitan areas of New York and Atlanta. CMC supports the positive growth of neighborhoods where it is developing through its Prospective Developer Buy, Community Workforce, and Local Construction Service Provider program. CMC is focused on capitalizing on economic opportunities in urban areas while developing properties that focus on solid economic return, affordability and sustainable building development. CMC is a NYS certified MBE with offices in NY and Atlanta, GA.

About ZT Architecture and Land Development

ZT Architecture + Land Development Inc. is an innovative architecture, design / construction and development company with offices in Los Angeles and Atlanta, GA. Our company was founded on the principle and belief that architecture is the design and organization of sculptural forms and shapes in space that function as a canvas. If life is a floating animation, these designed floating shapes and forms give context to our experience through the relative objectivity of each shape and shape to one another. We believe that this is the basis for environmentally conscious, organically grown and sustainably designed communities. Architecture has the ability to help shape experiences. Our projects, large or small, public or private, high quality or affordable, all work to engage the public in meaningful, thoughtful, and poetic ways in order to leave a lasting impression and experience.

Via the Community Development Consortium

The Community Development Consortium, LLC (CDC) was established as a for-profit vehicle to manage the assets and other business / development activities of the nonprofit FAC Services. Our current structure brings together our public and private sector experience and expertise in community design / development and management to bring projects and programs to underserved communities

Safe Harbor Statement

Forward-Looking Statements Certain statements in this press release are “forward-looking statements” within the meaning of US securities laws. Words like “may”, “could”, “will”, “should”, “believe”, “expect”, “foresee”, “estimate”, “continue”, “predict”, “predict”, “project”, “” plan, “intend” or similar expressions or statements of intent, belief or current expectations are forward-looking statements. Georgia, known as Norman Berry Village, with the Atlanta market being the right choice at the right time, and Norman Berry Village is the first of many projects where SGB DevCorp is developing, designing, building and supplying single or multi-family homes, although SG Blocks Believes that these forward-looking statements are reasonable, however, undue reliance should not be placed on such forward-looking statements that are based on information; They were available to us as of the date of this publication. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict and which could cause actual results to differ materially from current expectations and assumptions expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, but are not limited to, the company’s ability to develop Norman Berry Village as planned, the company’s ability to position itself for future profitability, the company’s ability to develop Company’s compliance with NASDAQ listing requirements and the other factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and its subsequent filings with the SEC, including the periodic reports on the Forms below 10-Q and 8-K. The information in this press release is provided only as of the date of this press release, and we assume no obligation to update any forward-looking statements contained in this press release as a result of new information, future events, or otherwise, unless required by law.