$DREM Dream Homes & Development Corporation (OTCQB: DREM), a licensed new home builder and general contractor in New Jersey, announces a new letter of intent (LOI) to acquire lots and build 15 single-family homes in Berkeley Township, NJ and is moving forward to contract. The project is slated to begin in late of 2018 and has a retail value of $6 million.
The Company is also proud to announce that it has surpassed the 225-unit mark for completed renovation and elevation projects since early 2013. Dream Homes is experiencing an increase in prospects and rebuilding interest since the RREM Program in NJ announced a hard deadline for grant recipients of October 29th, 2018. If homeowners have not chosen a builder and signed a contract prior to that time, they will lose their $150,000 grant. This provision also applies to the insurance industries' ICC (Increased cost of compliance) funding. In order to utilize the $30,000 ICC provision in an insurance policy, homeowners affected by Storm Sandy in 2012 must apply and be substantially underway prior to October 2018.
It is noted that Dream Homes & Development won Best of the Best in Ocean Country from the Asbury Park Press in late 2017 for two separate categories: "Best Home Improvement Contractor" and "Best Modular Home Builder". Dream Homes is a fully integrated real estate Company specializing in new construction of single-family homes and townhouses, the elevation, renovation and moving of homes, as well as development approvals, single-family homes and various residential properties located throughout central /southern New Jersey.
The Company has also released the guest speakers for its Rebuilding Seminar that will be held tomorrow night, March 14th, 2018. Speakers will include architect Scott Lepley, attorney Kathleen Dotoli, and elevation specialist Jason Devooght. Dream has held these free seminars as a service to the public since 2013 and has helped hundreds of homeowners over the years with their projects. Dream focuses on people just starting the process who need design, architectural, construction, and finance advice for their renovation or new home project. The seminar will begin at 6 pm at the Tuscan Bistro in Toms River across from the Ocean County Mall. Please call or text (732)300-5619 for reservations.
Dream Homes CEO Mr. Vincent Simonelli stated, "We've recently reached a milestone of 225 new homes and elevation projects completed since the efforts to rebuild the shore began in early 2013. We're very proud of that achievement since it demonstrates to our existing and future clients our ability to persevere and grow our business, even in the face of difficult and more complicated types of construction projects."
CEO Simonelli continued, "Homeowners have been contacting Dream Homes in increased numbers since the RREM program announced an October 2018 deadline for grant recipients to sign a contract with a builder. This deadline also applies to ICC insurance funding, where a homeowner can receive up to $30,000 to raise or rebuild their home. Clients want to retain Dream due to superior performance and reliability, and they realize that we're well suited to guide them through the pitfalls of reconstruction."
CEO Simonelli concluded, "Since being awarded the Ocean County Best of the Best in two categories (Best Custom Modular Builder and Best Home Improvement Contractor), we've had significant new awareness and interest from the public, and now the RREM grant and ICC expirations are causing urgency in the market. Our phrase 'The Region's Most Trusted Builder' accurately describes our company, and it's becoming increasingly well known to homeowners in need of elevation & renovation work. It also helps that our management team has never failed to complete a project in over 24 years in the industry."
About Dream Homes & Development Corp.
Dream Homes & Development Corp. (OTCQB: DREM) is a full-service construction company based in Forked River, New Jersey equipped to complete all aspects of a building project including design, architectural, engineering, and construction. As licensed new home builders and general contractors, Dream Homes is actively building, raising, renovating and reconstructing homes up and down the New Jersey shore area. In addition to its renovation and elevation division, Dream has several properties in approval and development, comprising 13 new single-family homes, 58 townhomes, and 48 waterfront townhomes. Please visit our website at www.dreamhomesltd.com and blog at http://blog.dreamhomesltd.com for more information.
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties, and assumptions. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks are detailed in the Company's respective filings at www.otcmarkets.com.
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Dream Homes & Development Corp.
Vincent Simonelli, President & CEO
Office: (609) 693-8881
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