NEW YORK, Aug. 5, 2014 (GLOBE NEWSWIRE) -- SG Blocks (OTCQB:SGBX), a premier innovator and designer of container-based structures, today announced it will build a 21-unit development in Nashville, Tennessee for oneC1TY, a vibrant urban community currently under construction.
oneC1TY is a multi-building, mindful living community that caters to the healthcare, life sciences and technology sectors of the global economy – all of which are growing dramatically. oneC1TY creates a space for those industries to connect with higher education, research and development, and other related disciplines in a collaborative, interactive community near the center of Nashville's urban core.
The structures built by SG Blocks, C1TYblox, will house commercial properties including retail stores, restaurants and other businesses. They will be erected within a few days after arrival, finished out by the tenants once in place and open for business approximately 60 days later. Construction of the infrastructure, green spaces, outdoor amenities and first office building is already underway at the direction of oneC1TY's master developer, Cambridge Holdings, Inc.
"Our containers will soon be the home to the stores the entire oneC1TY community will enjoy and we are thrilled to be part of the project," stated Paul Galvin, Chairman and CEO of SG Blocks. "Through our sustainable and efficient process, we are truly transforming the industry, helping bring projects to life on development sites that would otherwise be stale for longer periods of time."
C1TYblox will remain in place for approximately five years, until oneC1TY's permanent buildings are completed.
"This is the first development of its kind in Nashville, making it even more important to partner with an experienced industry leader like SG Blocks," said Ryan Doyle, general manager of oneC1TY. "C1TYblox is an important catalyst for the overall development of oneC1TY, and SG Blocks will support us throughout its construction to ensure that all aspects of the project fit into oneC1TY's mindful living philosophy."
About SG Blocks: SG Blocks, Inc. (SGBX) is a leader in advancing and promoting the use of code-engineered cargo shipping containers for safe and sustainable construction with innovative solutions. The firm offers a product that exceeds many standard building code requirements, and also supports developers, architects, builders and owners in achieving greener construction, faster execution, and stronger buildings of higher value. It has four product lines: retail, commercial, military and residential. SG Blocks also has an exclusive 10 year collaboration and supply contract with ConGlobal Industries Inc., one of the largest shipping container depot operators in the United States. For more information, visit www.sgblocks.com.
Cautionary Note Regarding Forward-Looking Statements:
Information in this press release that involves the expectations, plans, intentions or strategies of SG Blocks regarding the future are forward-looking statements that are not facts and involve a number of risks and uncertainties. In this release, they are identified by references to dates after the date of this release and words such as "will," "remains," "to be," "plans," "believes," "may," "expects," "intends," and similar expressions. Factors that could cause SG Blocks' actual future results to differ materially from those expressed in the forward-looking statements set forth in this release include, but are not limited to, the timing and successful completion of the engagement. The forward-looking statements in this release are based upon information available to SG Blocks as of the date of this release, and SG Blocks assumes no obligation to update any such forward-looking statements. Forward-looking statements believed to be true when made may ultimately prove to be incorrect. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond our control and may cause actual results to differ materially from our current expectations.