Company Summary: Dream Homes & Development Corporation

Business Overview

Dream Homes & Development Corporation is a regional real estate developer and builder specializing in residential housing projects within central and southern New Jersey. The company has over 30 years of experience, with a history of constructing over 2,000 new homes and executing more than 400 elevation, renovation, and addition projects since 1993.

Core Operations & Offerings

• Residential Development & Construction: Building single-family homes, multi-family subdivisions, townhomes, and condominiums.
• Land Development & Sale: Developing and selling residential communities, including approved and improved land parcels.
• Housing Types: Including semi-custom homes, modular and manufactured homes, townhomes, and age-restricted manufactured housing.
• Build to Lease & Improved Lots for Sale: Focused on constructing properties with the intent to lease or sell immediately upon completion, responding to market demand for rental properties and improved lots.
• Construction & Development Services: Offering land development, infrastructure installation, architectural design, engineering, soil studies, construction management, and general contracting – providing turn-key solutions from planning to project completion.

Market Focus

• Located primarily in Ocean, Atlantic, Cape May, Monmouth, and Middlesex counties in New Jersey—areas within an hour’s drive of Atlantic City, Philadelphia, and New York.
• Market demand driven by a shortage of affordable rental units and new homes, supported by regional infrastructure, tourism, casino industry, and population growth.

Current Projects & Properties

• Berkeley Terrace (Bayville, NJ): 70 approved townhome units; infrastructure and construction completed; sold two 10-unit building pads in 2024; one more building pad sold in early 2025.
• Lacey Pines (Lacey Township, NJ): Approved for 68 townhomes (54 market rate, 14 affordable); infrastructure and site improvements completed; sold one building pad in early 2025.
• Louis Avenue (Bayville, NJ): Approved for 17 townhomes; options under consideration, including sale or build-to-lease.
• Autumn Run (Gloucester County, NJ): Approved for 62 age-restricted manufactured housing units; land title acquired in September 2023; development plans include selling homes and land lease operations.
• Additional Developments: Under contract or in development, including a 96-unit townhome project in Southern Ocean County.

Business Strategy & Market Trends

• Transitioning from primarily custom homes and elevation projects to a focus on scalable developments such as:
  • Building and selling finished lots to national home builders.
  • Developing new subdivisions with land approvals and infrastructure.
  • Increasing Build to Lease projects to attract institutional investors like pension and hedge funds.
• Revenue & Income: For the year ending December 31, 2024:
  • Revenue of approximately $4.97 million (down from about $5.66 million in 2023).
  • Net income of approximately $876,000 (a turnaround from a net loss of about $97,000 in 2023).
• Employees: Approximately 8 full-time employees, including 3 officers, plus part-time staff.

Financial Highlights

• Total Assets (2024): About $11.52 million
• Total Liabilities (2024): About $8.64 million
• Total Stockholders’ Equity (2024): About $2.89 million

Summary of Key Strengths

• Extensive experience in residential construction and land development.
• Strong regional presence in high-growth counties.
• Ability to control land through contracts and options to limit risk.
• Growing pipeline of approved, under-construction, and pre-sold development properties.
• Strategic pivot towards Build to Lease and improved lot sales, aligning with market trends for institutional investment and developer demand.