Community Redevelopment Announces the Purchase of Two Development Projects in Washington DC

WASHINGTON, DC / ACCESSWIRE / January 11, 2024 / Community redevelopment is pleased to announce that it is under contract to purchase two new multifamily buildings in Washington DC. This will encompass 71 condominium/apartment units with a total asset value of $26 million once renovations have been completed. CEO Richard Balles stated “Community Redevelopment Inc. continues to accumulate rental properties in prime locations. The current market landscape is filled with tremendous value propositions and opportunities to continue expanding our portfolio.”

About Community Redevelopment

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. The Company is focused on all aspects of the urban real estate development cycle including land development, design build, property operations, and site redevelopment. In addition to the ownership of our operating property portfolio, Community Redevelopment plans to develop and build desirable properties for its own account and through joint ventures with affiliated and unaffiliated partners.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements include but are not limited to statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our latest reports filed with the SEC. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Community Redevelopment Inc. which are condoned by the Company must emanate from the Company itself and bear our name as its Source.

For more information on Community Redevelopment Inc., please contact us at 240-398-8319 or see our website at

SOURCE: Community Redevelopment, Inc.

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