PLANO, Texas, Sept. 28, 2020 (GLOBE NEWSWIRE) — Green Brick Partners, in partnership with Taylor Morrison, has closed on the purchase of nearly 900 acres north of Sendera Ranch in Fort Worth for a joint development. The community, named Madero, will bring more than 2,500 value-oriented homes to this growth corridor of Fort Worth.
Construction of Madero is projected to start in Q1 2021 and will include 50’, 60’, and 77’ wide homesites in multiple phases. Located in Fort Worth’s sought-after Northwest Independent School District, the community will be in close proximity to Hwy 287 and offer less than a 30-minute commute to Downtown Fort Worth.
The development plan includes extensive amenities throughout, including two amenity centers with resort-style pools, expansive green spaces with walking trails, parks, and a neighborhood retail area.
“We are thrilled to continue expanding our presence in Fort Worth, and to provide homebuyers a fantastic opportunity to live in such close proximity to attractive amenities including Eagle Mountain Lake while maintaining easy access to major employment centers in Fort Worth,” said Jed Dolson, Chief Operating Officer for Green Brick Partners. “In addition to its ideal location, Madero will feature a wealth of amenities which we are certain will set us apart from the competition.”
Green Brick Partners will be offering approximately 1,250 homes through its Trophy Signature Homes brand. Homes will range from 1,500 to 3,500 square feet and feature 3-4 bedrooms and 2-3 bathrooms with prices starting from the high $200s. As with every Trophy Signature Homes community, all upgrades, including engineered wood floors, Smart Home automation packages, and horizontal modern fireplaces, will come standard with each home.
“North Fort Worth is one of the fastest growing areas of DFW,” said Keith Hurand, Taylor Morrison’s Division President for DFW. “The trend of spending more time at home will not go away any time soon and homebuyers are seeking master-planned communities like Madero with quality amenities in their neighborhood. Taylor Morrison will be offering designs inspired by our homeowners with options such as offices to work from home, flex space for home gym or ideal spaces for virtual learning to maximize how they enjoy their living space.”
Taylor Morrison plans to build 1,250 single-family homes in the community, offering buyers 12 one- and two-story floorplans to choose from ranging in size from 1,400 to 3,000 square feet featuring 3-4 bedrooms and 2-3 bathrooms. Homes are expected to start in the high $200s.
About Green Brick Partners
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns five 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 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, Providence Group Title, and Green Brick 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 homebuilding partners, please visit https://greenbrickpartners.com/team-builders/.
About Taylor Morrison
Taylor Morrison Home Corporation (NYSE: TMHC) is the nation’s fifth largest homebuilder and developer based in Scottsdale, Arizona, that has been recognized as America’s Most Trusted® Home Builder for five years running (2016-2020). Operating under a family of brands including Taylor Morrison, Darling Homes, William Lyon Signature Home and Christopher Todd Communities built by Taylor Morrison, we serve consumer groups coast to coast, from first-time to move-up, luxury and 55-plus buyers. Our unwavering pledge to sustainability, our communities and our team—outlined in the 2019 Environmental, Social and Governance (ESG) Report —extends to designing thoughtful living experiences homeowners can be proud of for generations to come. For more information about Taylor Morrison, Darling Homes and William Lyon Signature Home, please visit www.taylormorrison.com or www.darlinghomes.com.
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.
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