UPDATE -- Community Redevelopment Announces Plans For Full Service In-House Real Estate Brokerage

Full-service brokerage to open flagship office in South Florida

MIAMI, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Community Redevelopment (OTC: CRDV) ("the Company"), a developer and owner of community oriented real estate in urban and suburban markets with a focus on all aspects of the real estate development cycle, announced today plans to open a full service, in-house real estate brokerage in the Miami Metropolitan Area with a commercial & residential division. The newly formed brokerage will specialize in residential sales and providing commercial real estate investment services to maximize value for clients.

The mission of Community Redevelopment’s brokerage will be to ensure that the entire process of acquiring, selling, and leasing real estate is positive for all parties involved: Buyers, Sellers, and Realtors. Community Redevelopment plans to provide both commercial and residential real estate brokerage services with targeted expertise in the acquisition and disposition of multifamily, mixed-use, retail, land, and office assets as well as for-sale residential (single-family homes, townhomes, vacation homes, and condominiums). Each of our experienced Realtors will have the professional support of our organization to benefit all types of real estate transactions in Florida and beyond. The primary market served will be the state of Florida with particular focus on Aventura, Bal Harbour Bay H, Boca Raton, Coral Gables, Downtown / Brickell, Fort Lauderdale, Golden Beach, Hallandale Beach, Hollywood, Kendall, Key Biscayne, Miami Beach, Miramar, North Miami & Beaches, Palm Beach, Pembroke Pines, Pinecrest, Sunny Isles Beach, Surfside, and Weston.

Garfield Antonio, President of Community Redevelopment, said, “Community Redevelopment is focused on all aspects of the real estate development cycle including land development, design build, property operations, and site redevelopment. We believe the real estate brokerage will be an intricate part of our strategy moving forward with a vertical structure to create value from acquisition to disposition of assets.

According to the Miami Association of Realtors and the Multiple Listing Service system, Miami-Dade County real estate posted its best July sales month in history as pent-up demand, more U.S. individuals and companies moving to South Florida, and record-low mortgage rates fueled record breaking transactions. Miami-Dade County total home sales surged 57.7% year-over-year in July 2021, from 2,303 sales to 3,632. Miami single-family home transactions rose 15%, from 1,194 to 1,373. Miami existing condo sales increased 103.7%, from 1,109 to 2,259. A new report from Realtor.com says the Miami-Fort Lauderdale-West Palm Beach area is the third fastest-growing rental market in the country among metro areas. The average rent in August was $2,432, up 27% from the same time last year. Currently, lack of inventory seems to be the only negative attribute to the South Florida real estate market.

About Community Redevelopment

Community Redevelopment affords potential investors a significant opportunity to participate in the process of identifying and redeveloping entire communities and regional areas, via a publicly traded company. 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 in attractive markets throughout the Mid-Atlantic and Southeastern United States, as well as capital markets. The Company is focused on all aspects of the 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.

Community Redevelopment, Inc. is focused on community development in urban and suburban markets and our mission is to integrate our proprietary business model by providing sustainable, long-term value to investors as we strive to provide opportunities to improve neighborhoods with residential, commercial, and industrial development projects while designing architecturally pleasing, clean, energy efficient communities and commercial structures. For more information on Community Redevelopment Inc., please visit www.comredev.com.

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 10-Q Report filed on August 16th, 2021. 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 Investor Relations, please contact:

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