Green Brick Partners Inc., in partnership with Meritage Homes, has
closed on the purchase of 1,838 lots within the Lake Haven
subdivision in Farmersville, TX. The community will be a 50/50
partnership between Meritage Homes and Green Brick Partners.
Construction of the approximately 453-acre property is projected to
start in February 2022 and is expected to include 40’, 50’, and 60’
lots within multiple stages of development.
Lake Haven will sit adjacent to TX-78, just
south of US-380 and minutes from the shores of Lavon Lake. Zoned
for schools within the highly-rated Farmersville ISD, the large
master-planned community is planned to provide extensive amenities
throughout, including parks, trails, landscaped open spaces, and a
large amenity center with pool.
“We are thrilled to continue growing our
presence in the area, and to provide homebuyers a fantastic
opportunity to live in such close proximity to attractive amenities
including Lavon Lake while maintaining easy access to major
employment centers in North Dallas,” said Jed Dolson, Chief
Operating Officer and Executive Vice President of Green Brick
Partners. “We have seen remarkable interest from buyers in our
nearby Brookside and LakePointe communities, and knew that
Farmersville was the next step in meeting the market’s growing need
for quality homes.”
Green Brick Partners intends to offer homes
through its subsidiary Trophy Signature Homes brand. Unique
architecture with clean lines and balanced elevations place Trophy
Signature Homes into a modern home classification all its own.
Floorplans are flexible and built for homeowners to work from home
or use flex space for home gyms or virtual learning. In every
Trophy Signature Homes community, modern conveniences are a
priority. Homes are air-tight, have cleaner air, and are built to
conserve water and energy. These upgrades, along with contemporary
fireplaces, vaulted ceilings, oversized garages, and Clare Home
automation systems, are included in the price of every home.
“This parcel offers a prime location in a
submarket with a high level of desirability and low available
inventory. We are looking forward to diversifying our geographic
footprint and product mix across Dallas-Fort Worth,” said Austin
Woffinden, Dallas division president at Meritage Homes. “With a
diverse range of homes at affordable prices, Meritage Homes is
building quality, energy-efficient homes while meeting consumer
demand for a variety of lifestyle preferences.”
Meritage Homes plans to build 919 single-family
LiVE.NOW.® homes in Lake Haven, offering buyers three distinctly
different floorplan series designed to appeal to families or empty
nesters. These premium quality, affordable homes will include
designer-curated interior packages and the M.Connected Home™
Automation Suite, with smart door locks, door sensors and motion
detectors, USB outlets and advanced thermostats centrally managed
through a smart home hub and app. Every Meritage home is built with
energy- and money-saving features including spray-foam insulation,
ENERGY STAR® certified appliances, Low-E windows, and a
high-performance air filtration system that improves the home’s air
quality and reduces the number of allergens. Additionally, all new
Meritage homes will be equipped with an
efficient multispeed HVAC
system that allows owners to better manage the
comfort of their home while reducing their environmental impact and
operating costs.
Home sales are expected to begin in Fall 2023.
For more information about Lake Haven, please contact Kelsey Covey
at kelsey.covey@meritagehomes.com or Shalott Cecchini at
scecchini@greenbrickpartners.com.
About Meritage Homes:Meritage
Homes is the sixth-largest public homebuilder in the United States,
based on homes closed in 2020. The Company offers a variety of
homes that are designed with a focus on first-time and first
move-up buyers in Arizona, California, Colorado, Texas, Florida,
Georgia, North Carolina, South Carolina and Tennessee.
Meritage Homes has delivered over 140,000 homes
in its 36-year history, and has a reputation for its distinctive
style, quality construction, and award-winning customer experience.
The Company is the industry leader in energy-efficient homebuilding
and an eight-time recipient of the U.S. Environmental Protection
Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence
Award since 2013 for innovation and industry leadership in energy
efficient homebuilding.
For more information, visit
www.meritagehomes.com.
About Green Brick Partners:
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified
homebuilding and land development company. Green Brick owns five
subsidiary homebuilders in Dallas, Texas (CB JENI Homes, Normandy
Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest
in Centre Living Homes), as well as a controlling interest in a
homebuilder in Atlanta, Georgia (The Providence Group) and an 80%
interest in a homebuilder in Port St. Lucie, Florida (GHO Homes).
Green Brick also owns a noncontrolling interest in Challenger Homes
in Colorado Springs, Colorado, and retains interests in related
financial services platforms, including Green Brick Title, Green
Brick Mortgage, and BHome Mortgage. The Company is engaged in all
aspects of the homebuilding process, including land acquisition and
development, entitlements, design, construction, marketing, and
sales for its residential neighborhoods and master-planned
communities. For more information about Green Brick Partners Inc.’s
subsidiary homebuilders, please visit
greenbrickpartners.com/homebuilders.
Forward-Looking and Cautionary
Statements:
Any statements in this press release about Green Brick’s
expectations, beliefs, plans, objectives, prospects, financial
condition, assumptions or future events or performance that are not
historical facts are forward-looking statements. These statements
are often, but not always, made through the use of words or phrases
such as “may,” “will,” “should,” “predicts,” “potential,”
“expects,” “future,” “positioned,” “believes,” “projects,”
“estimates” and similar expressions, as well as statements in the
future tense. These statements are based on assumptions that Green
Brick has made in light of its experience in the industry as well
as its perceptions of historical trends, current conditions,
expected future developments and other factors it believes are
appropriate under the circumstances, as of the date of this press
release. All such forward-looking statements involve estimates and
assumptions that are subject to factors that could cause actual
results to differ materially from the results expressed in the
statements, and you should not place undue reliance on any such
forward-looking statements. Among the factors that could cause
actual results to differ materially are the following: general
economic conditions, seasonality, cyclicality and competition in
the homebuilding industry; the failure to recruit, retain and
develop highly skills and competent employees; management and
integration of acquisitions; labor and raw material shortages; an
inability to acquire land for reasonable prices; an inability to
develop and sell communities; government regulation risks; mortgage
financing availability and volatility; severe weather or natural
disasters; difficulty in obtaining sufficient capital; poor
relations with community residents; and our debt and related
service obligations. Additional factors that could cause actual
results to differ are discussed in the “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in the Company’s annual and quarterly
reports filed with the Securities and Exchange Commission. Green
Brick undertakes no obligation to update any forward-looking
statement except as required by law.
Meritage Homes Media Contact: Kelsey
Covey(972) 580-6355kelsey.covey@meritagehomes.com
Green Brick Partners Media
Contact:Shalott Cecchini(469)
573-6741scecchini@greenbrickpartners.com
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