Genesis Land Development Corp. announces removal of growth management overlays on Lewiston and Logan Landing developments

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CALGARY, Alta., September 13, 2022 /CNW/ – Genesis Land Development Corp. (“Genesis”) is pleased to announce that today the City of Calgary Council approved the removal of growth management overlays on its Lewiston lands and Logan’s Landing developments.

Genesis would like to thank the City of Calgary Council and Administration for all their hard work during this long and thorough approval process.

“We are excited to advance the development of these two communities and work to innovate in early 2023,” said the CEO. Iain Stewart. “Lewiston and Logan’s Landing will provide Calgary with over 3,000 new homes, including much-needed affordable housing for first-time home buyers. »

“Once completed, these communities will provide great places to live for people at all stages of their lives, representing the model of life, work and play that people seek when choosing where to live,” said Arnie Stefaniuk, Vice President, Land Use Planning. “We have worked hard to ensure a high level of environmental preservation with significant setbacks and natural areas near the Bow River. We are also a proud leader in promoting low carbon initiatives in our communities.

Genesis plans to begin land servicing construction in 2023 to provide additional affordable housing to the Calgary market in the years to come.

About Genesis

Genesis is an integrated real estate developer and residential home builder operating in the Calgary Metropolitan Area (“CMA”) holding a portfolio of primarily residential land and serviced lots well located, licensed and unlicensed within the CMA.

Caution Regarding Forward-Looking Information

This press release contains certain statements that constitute forward-looking statements or information (“forward-looking statements”) within the meaning of applicable securities laws, including National Instrument 51-102 Continuous Disclosure Obligations of the Canadian Securities Administrators. securities, relating to the activities and operations of Genesis. Forward-looking statements contained in this press release include, but are not limited to, new housing units, land servicing construction and the timing thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “anticipates”, “expects” or “does not expect”, “is planned”, “planned”, “anticipates or “do not anticipate”, or “believe”, or variations of these words and phrases or state that certain actions, events or results “could”, “might”, “will”, “could” or “will be taken”, “will occur” or “be achieved”.

Forward-looking statements are based on material factors or assumptions made by us regarding, among other things, opportunities that we may or may not pursue; changes in the real estate industry; fluctuations in the Canadian market and alberta economy; changes in the number of lots sold and housing units delivered per year; and changes in laws or regulations or the interpretation or application of such laws and regulations. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control.

Although Genesis believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements are based on reasonable assumptions and expectations, the reader should not place undue reliance on the forward-looking statements because they involve assumptions, known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control, which may cause the actual results, performance or achievements of Genesis to differ materially from any anticipated future results, performance or achievements expressed or implied by these forward-looking statements. Accordingly, Genesis cannot guarantee that its expectations will be realized and cautions that actual results may differ materially from those in the forward-looking statements.

Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to: the impact of contractual arrangements and incurred obligations on future operations and liquidity; local real estate conditions, including the development of properties near Genesis properties; the uncertainties of real estate development; interest rate fluctuations; ability to access and raise capital on favorable terms; the cyclical nature of the oil and gas industry; changes in the Canadian US dollar exchange rate; labor issues; government regulations; general economic and financial conditions; stock market volatility; and other risks and factors described from time to time in documents filed by Genesis with the securities regulatory authorities of Canada available on www.sedar.com, including in the Company’s MD&A under “Risks and Uncertainties” and in the Company’s Annual Information Form under “Risk Factors”.

The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by applicable law, Genesis undertakes no obligation to publicly update or revise any of the statements. forward-looking, whether as a result of new information, future events or otherwise.

SOURCE Genesis Land Development Corp.

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