APR 24, 2023: DREAM HOMES received Preliminary Approval to construct 62 units age- restricted manufactured housing units in Gloucester County, NJ - Form 8-K

APR 24, 2023: DREAM HOMES received Preliminary Approval to construct 62 units age- restricted manufactured housing units in Gloucester County, NJ.

FORKED RIVER, NJ - April 27, 2023 - Dream Homes & Development Corporation (OTCPC: DREM), a licensed new home builder and general contractor in New Jersey, announces that the Company has received Preliminary Approvals from the Borough of Clayton, NJ to develop and build 62 age-restricted manufactured homes.

This new development, to be called Autumn Run, is located in Gloucester County, New Jersey. The property is +/- 24 acres and over 8 acres of land is dedicated for preservation and will not be disturbed.

Preliminary approval is the most critical step in the approval process and it was granted on April 24, 2023. Final approval is expected in mid-2023 and site work and construction should start in Q4 of 2023.

The Company intends to develop, build and hold this property as an income property for the foreseeable future. This development is intended to be a relatively permanent addition to the Dream Homes portfolio.

In addition to the 62 homes which were approved, there will be a +/- 1750 square foot Clubhouse, which will include a range of recreational facilities. Amenities will include exercise equipment, a full kitchen with all appliances, dishes and utensils, couches, TV, wireless internet, office/flex space with a desk, chairs and office equipment, fireplace, patio tables, card tables, a fireplace and a covered patio with barbeques.

In addition to the Clubhouse and onsite amenities, Autumn Run residents will enjoy a beautiful county park adjacent to the north side of the site. The park is called Autumn Pasquale Park, and offers a full range of amenities. Autumn Run will install a walking path from the Autumn Run neighborhood directly to the park, allowing residents to easily access Autumn Pasquale Park.

Dream Homes CEO Mr. Vincent Simonelli stated, "Receiving preliminary approvals for Autumn Run from the Borough of Clayton is a great step forward for Dream Homes. We're extremely pleased with the progress of all our various developmental efforts, but Clayton is one of the boroughs where we most enjoy conducting business. Autumn Run will be a wonderful, affordable development and we look forward to getting started on this development and offering these homes to the market."

CEO Simonelli concluded, "We've been one of New Jersey's most trusted builders for 30 years, and become increasingly well known to homeowners in need of new homes, elevation & renovation work. It certainly helps that we have an experienced management team that has never failed to complete a project in over 30 years in the industry. We look forward to working in the Borough of Clayton for a long time in the future."