Safe and Green Development Corporation (SG DevCo) has entered into an agreement to sell its St Mary's property, approximately 29 acres zoned for a manufacturing facility, to Pigmental Studios for $1.35 million. The decision to sell aligns with SG DevCo's strategy to monetize its real estate holdings in markets where land value has appreciated. The St Mary's site sale, expected to close on or about April 1, 2024, will strengthen SG DevCo's balance sheet and provide flexibility for future projects. Pigmental Studios, an animation studio, plans to use the property for expansion. SG DevCo remains interested in the St Mary's region through its investment in the Cumberland Inlet Project. The company's CEO, David Villarreal, expressed satisfaction with the transaction, highlighting the timing and the opportunity to advance other developments. This announcement follows SG DevCo's broader plan to leverage increased property values over recent years.

Safe and Green Development Corporation (SG DevCo) has entered into an agreement to sell its St Mary's property, approximately 29 acres zoned for a manufacturing facility, to Pigmental Studios for $1.35 million. The decision to sell aligns with SG DevCo's strategy to monetize its real estate holdings in markets where land value has appreciated. The St Mary's site sale, expected to close on or about April 1, 2024, will strengthen SG DevCo's balance sheet and provide flexibility for future projects. Pigmental Studios, an animation studio, plans to use the property for expansion. SG DevCo remains interested in the St Mary's region through its investment in the Cumberland Inlet Project. The company's CEO, David Villarreal, expressed satisfaction with the transaction, highlighting the timing and the opportunity to advance other developments. This announcement follows SG DevCo's broader plan to leverage increased property values over recent years.