Company: DREM
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022261
Chunk: 7

Company: Dream Homes & Development Corp.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 7
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9

Subsequent
Event: On October 3, 2025, the Company sold 8 improved building pads in the Lacey Pines development to a national builder. 4 were market rate and 4 were affordable homes.

Louis
Avenue – Bayville, NJ – 17 townhome units

The
Company was heard before the Berkeley Township Planning Board on October 3, 2020 and the planning board awarded preliminary approvals
for 17 townhome units.

The
Company acquired this property on August 4, 2021.

The
Company received Final approvals on August 8, 2022.

The
property is in the process of resolution compliance and anticipates that clearing in the near term 2025. It is intended that bonds and
fees will be posted and site work will begin in the 4th quarter of 2025.

The
company is scheduled to install base paving in the early part of the 2nd quarter of 2026.

As
of this date the Company is pursuing various options for the development of this property, including Build to Lease, sale of the approved
parcel to another builder/developer, or sale of the improved parcel to a national builder.

If
the improved property has not been sold by the time site work has been completed, the Company will proceed to build the townhouse units
and either sell or lease them.

As
of this date, the Company is completing resolution compliance and intends to post performance bonds and begin clearing in December of
2025.

Autumn
Run – Gloucester County – 62 age-restricted manufactured housing units

On
December 7, 2018, the Company signed a contract to purchase a property in Gloucester County, NJ, which has since been approved for 62
units of age-restricted manufactured housing. The property currently has final approvals.

The
application for a use variance was heard on May 24, 2021 and the variance was approved.

The
Company applied for preliminary and final site plan approval and was heard at the April 2023 planning board meeting. Preliminary approval
was granted, and the Company submitted for finals in the 4th quarter of 2023. The Company has since received final approvals.

The
property has completed resolution compliance and is scheduled to begin clearing in November of 2025. Bonds and fees will be posted and
site work will begin in the 4th quarter of 2025 or early 2026.

The
company is