SG Blocks has announced its development subsidiary, SGB Development Corp., has acquired a 10 percent non-dilutable equity interest in JDI-Cumberland Inlet, a Georgia limited liability company, contributing $3 million to develop Cumberland Inlet, a 1,286-acre waterfront parcel in historic downtown St. Marys, Ga. SG DevCorp, in conjunction with Atlanta-based Jacoby Development, expects to develop a mixed-use destination community. The closing on the 1,286-acre waterfront parcel is scheduled to occur prior to the end of second quarter 2021.
“We are thrilled to announce our latest SG DevCorp project to deliver approximately 1,280 cutting-edge modular units within the mixed-use destination community in beautiful St. Marys, Georgia,” stated Paul Galvin, chairman and CEO of SG Blocks. “The Cumberland Inlet project is envisioned to revitalize the downtown area, with an emphasis on creating a community in harmony with the natural surroundings. We will be developing Cumberland In
