Green Brick Partners, Inc. and Hersh Family Investments Announce Rainwater Crossing, a New Joint Venture Community in Celina, Texas

Rhea-AI Summary

Green Brick Partners, Inc. and Hersh Family Investments announce Rainwater Crossing, a new residential project in Celina, Texas. The development will feature 1,900 homesites spread across 550 acres with impressive amenities. This marks Green Brick's sixth community in Celina, aiming to enhance residents' quality of life.

PLANO, Texas, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. ("Green Brick"), the third largest homebuilder in Dallas-Fort Worth, and Hersh Family Investments ("HFI") are excited to announce Rainwater Crossing, a new residential project in Celina, Texas, one of the fastest growing areas of the Dallas-Fort Worth metroplex. This will be the sixth community in Celina in which Green Brick has been involved.

Spanning over 550 acres, the development will feature more than 1,900 homesites and an impressive array of amenities designed to enhance the quality of life for residents.  The primary amenity center will boast a resort-style clubhouse, a swimming pool, playground, and sport courts.

The development will be located just east of Preston Road, near County Road 134. Plans incorporate around 42 acres of open space, including approximately 13 acres dedicated to the city of Celina as public parkland, private amenity sites, miles of pedestrian trails, linear parks, and pocket parks that encourage community connectivity and outdoor activities. 

"We're enthusiastic about joining forces with the Green Brick family of builders. Their brands have a reputation for quality," said Ken Hersh, chairman of HFI. "They deliver exceptional homes and truly care about creating desirable, vibrant communities."

The new community will feature homes built by four Green Brick subsidiary builders — CB JENI Homes, Normandy Homes, Southgate Homes, and Centre Living Homes.  

"HFI is one of the smartest investors and a leading philanthropic organization in Dallas.  We are privileged to partner with their team," said Jim Brickman, co-founder and CEO of Green Brick.  “Through this collaboration, we can bring desirable, needed housing to the Celina area through our builders who will offer a diverse array of products to potential homebuyers, ranging from townhomes to luxury homes.”

About Green Brick Partners, Inc. | Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas-Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick is listed as one of Fortune Magazine’s fastest-growing companies in 2022 and its fastest-growing public homebuilder. Green Brick owns five subsidiary homebuilders in 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 retains interests in related financial services platforms, including Green Brick Title 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 https://greenbrickpartners.com/brands-services/.

About HFI | Hersh Family Investments (HFI) is dedicated to advancing the financial, civic, and philanthropic endeavors of the Kenneth A. Hersh family and has been an active investor in Celina, Texas real estate for more than a decade.

Green Brick Partners Contact:
Benting Hu
Vice President of Finance
IR@greenbrickpartners.com

Hersh Family Investments Contact:
Phillip Thompson
Managing Director, Real Estate
pthompson@hershfi.com 

FAQ

What is the name of the company mentioned in the press release about Rainwater Crossing?

Green Brick Partners, Inc.

Where is Rainwater Crossing located?

Rainwater Crossing is located in Celina, Texas, near County Road 134.

How many homesites will Rainwater Crossing feature?

Rainwater Crossing will feature more than 1,900 homesites spread across 550 acres.

What amenities will be available at Rainwater Crossing?

Rainwater Crossing will have a resort-style clubhouse, a swimming pool, playground, and sport courts.

How much open space will be incorporated into the Rainwater Crossing development?

Around 42 acres of open space will be included in the Rainwater Crossing development.