Company: DREM
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004861
Chunk: 231

Company: Dream Homes & Development Corp.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 231
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 building and selling or leasing the entire development.

Subsequent
event: Building Pad 1, comprised of 6 improved building pads, was sold and closed title on 1/24/25. 48 improved building pads are
scheduled to close in the next 12 months.

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.

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.

18

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
Company took title to this property in early September of 2023. It is the Company’s intention to develop this property, sell the
individual manufactured homes and continue to own and operate the development as a land lease rental property.

Properties
under Contract to Purchase and in Development

The
Company has signed a contract to obtain approvals, acquire and improve a 96 unit townhome property (of which 80 units are market rate
and 16 are Affordable Housing) in Southern Ocean County. This property has been pre-sold on an “as-improved” basis to a national
builder.

The
initial closing to acquire the property should occur in 2026, with site improvements to begin shortly thereafter. The sale of improved
building pads should begin in late 2026 / early 2027.

Summary

These
new developments which the Company owns or is in contract to