Green Brick Partners, Inc. Announces the Acquisition and Development of Five Communities in Dallas-Fort Worth
January 05, 2021 at 18:40 PM EST
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PLANO, Texas, Jan. 05, 2021 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (NASDAQ: GRBK) (“Green Brick”) today announced the acquisition and development of five communities across the Dallas-Fort Worth metroplex for over 2,000 homes. The communities will be located in the cities of Red Oak, Prosper, Celina, and Princeton, Texas.
“In an effort to fuel further expansion and keep up with record-demand for homes, we have closed on over 2,000 homesites in the DFW region during December 2020,” said Jed Dolson, Chief Operating Officer of Green Brick Partners. “Prosper, Celina, Princeton, and Red Oak are great places to live and work, and areas where we are seeing demand for new construction greatly outpacing supply.”
Of the five communities, two will be expansions into future phases of existing communities and three will be new neighborhoods.
The five new neighborhoods include Phase II and III expansions into Oakmont Park in Red Oak Texas, where Green Brick Partners’ subsidiary Team Builder, Trophy Signature Homes, has already experienced extensive success in Phase I, and expansions into Windsong Ranch in Prosper, Texas through Green Brick’s Trophy Signature Homes and Southgate Homes brands.
New developments will include Wilson Creek Meadows in Celina, Eastridge in Princeton, and Celina Hills in Celina. The three communities will include a mixture of single-family and townhomes and will include Green Brick’s Trophy Signature Homes, CB JENI Homes, and Normandy Homes brands.
“We have seen some of the highest housing demand in the nation in the Dallas-Fort Worth market,” said Jim Brickman, Chief Executive Officer and Co-Founder of Green Brick Partners. “Due to an increasingly limited supply of land and rising construction prices, the average price for a new home across DFW has risen sharply. Our new developments represent over 2,000 new homes, including a significant number of value-oriented homes that will be optimal for first-time buyers.”
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