Dream Homes & Development Signs Letters of Intent for New Townhouse and Single-Family Home Developments in New Jersey with Retail Value of Over $88 Million

FORKED RIVER, NJ--(Marketwired - Nov 20, 2017) - Dream Homes & Development Corporation (OTCQB: DREM), a licensed new home builder and general contractor in New Jersey and Florida, is pleased to announce several new LOI's to build townhomes and single-family homes. Dream is also providing updates on projects previously announced, and notes that it just won Best of the Best in Ocean Country from the Asbury Park Press for two categories: "Best Home Improvement Contractor" and "Best Modular Home Builder".

Dream Homes is a fully integrated real estate Company specializing in the elevation and moving of homes, new construction of townhouses and single-family homes, as well as development and sale of approved, single-family homes and various residential properties located throughout central /southern New Jersey. Dream announces the following new projects, which have never before been discussed:

1. A letter of intent (LOI) has just been signed to construct 74 townhouse lots in Bayville, NJ and is moving forward to contract (Approved, unimproved). The project is slated to begin in the middle of 2018 and has a retail value of $17 million.

2. A signed LOI has been received to build 80 single family lots in Mickleton, NJ to begin early to middle 2018 with a retail value of $50 million (Approved, partially improved).

3. A contract will be signed to acquire the rights to a purchase contract via contract assignment for 48 waterfront townhomes with boat slips in Lacey, NJ. The project is currently in the approval process and is partially improved with all boat slips built. It has a retail value of $21 million and is expected to start in late 2018 or early 2019.

In the addition to these new planned developments, Dream issues the following progress report:

• Dream just received CAFRA approval for the 58-unit townhouse development in Lacey Township, and was deemed technically complete Monday, November 13. A planning board hearing for preliminary and final site plan and subdivision approval is scheduled for December 11, 2017. Sales at retail for this development should be in the $16 million-dollar range.
  
  
• Dream submitted a use variance to the Board of Adjustment in Berkeley Township for approval on 13 single family lots, which are fully improved. The construction start date is estimated for later winter / early spring 2018 and these homes are planned for high-efficiency construction techniques, including passive solar roof panels, insulation of R50 in walls and ceilings, low-flow toilets and faucets and LED lighting throughout. Sales at retail for this development are projected to be in the $4 million-dollar range.