Community Redevelopment Inc. announced corporate governance actions consistent with the Company's efforts to drive long-term value creation for all stakeholders. CEO Mr. Garfield Antonio is stepping back from his role as CEO and President as he is now undergoing treatment for health issues, however, shall retain his title as “Director” and continue to contribute to the Company and its mission. With its focus on developmental real estate with specific criteria, the elevation of Richard Balles, with over 20 years of project developmental experience in both real estate and finance, Richard is the natural person to fill the role of President effective immediately.

Richard Balles is a prominent real estate developer in Washington DC with tremendous success in ventures related to banking and mortgage lending, specifically in the affordable housing domain. He brings to CRDV an expertise in market rate and naturally occurring affordable housing as well as a deep understanding of real estate finance.