TAMPA, Fla., Dec. 2, 2010 (GLOBE NEWSWIRE) -- American Community Development Group, Inc. (Pink Sheets:ACYD) today has announced that it expects to close 6 more properties this month and to reach profitability on cash flow by the first quarter of 2011. Several additional discounted real estate acquisitions that are expected to close by the end of the year will also add shareholder value as the company moves towards audits and Bulletin Board qualification.
West Coast Serenity House, our joint venture partner for affordable housing, offers a terrific model for the continued expansion of the affordable housing efforts. American Community development group (Pink Sheets:ACYD) plans to increases its growth strategy from 1000 units up to ownership of 5000 housing units by the end of 2012 in order to best take advantage of the current distressed real estate market. This expansion will greatly reflect on the ability of ACYD to offer quality social services and program support to nonprofit partners, foundations and their clients.
American Community Development Group, "The Company", was founded to offer financial support and management guidance to the nonprofit community. "We are excited to work with other foundations in expanding our resources," stated John Folger, President of American Community Development Group. "We are currently acquiring interests in multi-family homes, and other high occupancy commercial real estate properties."
The second focus of The Company is to create jobs and to further its contribution to the economic development of the country, as well as further supporting social well being and entrepreneurship. We intend to follow the successful business model similar to that of Goodwill Industries. "With the economy's continued downward trend, American Community Development will continue to fill the need to help the increasing population by investment into, or purchase of, businesses that offer ongoing employment," Mr. Folger added. "We are very active within the philanthropic community and plan to use our business model to generate revenue and profits while assisting the nonprofit community."
For more information please visit our website at www.AmericanCommunityDevelopmentGroup.com.
About American Community Development Group
American Community Development Group (Pink Sheets:ACYD) is a hybrid social business model founded by a group of experienced professional managers and principals that acquire or fund businesses, consult with the nonprofit community, and purchase real estate and affordable housing properties for the purpose of housing and employing individuals and families. The properties include single and multi family homes, apartments, hotels, and mobile home parks. The Company intends to control over 5000 units by the end of 2012.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.