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Community Redevelopment Inc (OTCMKTS:CRDV) Stock On Radar After Recent News

Pete Matthews , , , ,

One of the companies which may come on to the radars of investors this morning is Community Redevelopment Inc (OTCMKTS:CRDV) following a key development yesterday. The company announced yesterday that it had been successful in picking up a 100% ownership stake in a multi-family rental condo in Washington DC through its subsidiary unit Artistry LLC.

Community Redevelopment Announced the Acquisition of a Rental Condominum Building in Washington D.C. Through Its Subsidiary Artistry, LLC

The property in question value of $5,000,000 upon completion of the transaction and the transaction was completed in a cash and stock deal with Richard Balles. The property in question has a total of 15 designed units and at this point, it comprises of four one bedroom, three 3 bedroom and four 2 bedroom units.

At this point in time, the construction process for the property is at the concluding stages and the company believes that it would be completed by the time the second quarter of 2023 comes to an end. In this regard, it should be noted that affordable housing is something that has ballooned into a bit of a crisis in the United States and especially so in Washington DC.

The Chief Executive Officer of Community Redevelopment Lara Frittis noted that the company was a socially conscious real estate entity and was looking to offer ‘equitable solutions’ in the market.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.