New Waxahachie Development to Offer 600+ New Homes

Rhea-AI Summary

Green Brick Partners has acquired approximately 214 acres in Waxahachie, Texas, for its new Dove Hollow community, set to develop over 600 single-family homes. Construction will commence in mid-2022, following the success of the nearby Buffalo Ridge community. Dove Hollow will feature various homes on 50’ - 80’ wide sites, emphasizing modern designs with standard upgrades. The community aims to meet the growing demand for larger homes near Dallas, with an anticipated interest in pre-sales.

Positive

• Acquisition of 214 acres for new residential development.
• Plans for over 600 single-family homes to meet rising demand.
• Strong interest from buyers in the nearby Buffalo Ridge community.
• Community designed with modern amenities and green spaces.

Negative

• Construction commencement pushed to mid-2022.
• Potential risks related to economic conditions and raw material shortages.

Green Brick Partners Team Builder, Trophy Signature Homes, will offer three product lines on 50’ - 80’ wide homesites in the new Dove Hollow community

PLANO, Texas, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Green Brick Partners has closed on the purchase of approximately 214 acres in Waxahachie, Texas for the development of Dove Hollow, its newest single-family residential community. The Company intends to offer over 600 single-family homes through its Trophy Signature Homes brand.

The community will be located east of I-35E, minutes from downtown Waxahachie. Land development will commence Q1 2021 and will include 50’, 60’, 70’, and 80’ wide homesites. Trophy Signature Homes plans to offer homebuyers a mix of front and rear-entry homes across three product lines.

“Easy access to the metroplex, a family-friendly atmosphere, and an amenity-rich downtown has homebuyers flocking to Waxahachie. We have seen tremendous interest from buyers in our neighboring Buffalo Ridge community, and knew that expanding our presence in Waxahachie was the next step in meeting the market’s growing need for quality homes,” said Jed Dolson, Chief Operating Officer for Green Brick Partners. “Dove Hollow has been designed to meet the rising demand for larger homes with ample flex and office space, that are less than a 30-minute drive into downtown Dallas.”

The community will be developed in three phases and will include abundant green spaces, a community park, and an amenity center. 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.

“Dove Hollow is located northwest of our Buffalo Ridge community, where we opened for sales on September 11, 2020. Despite having our models at Buffalo Ridge still under construction, sales have been strong. We are confident that Dove Hollow will receive a similar level of interest from buyers,” said Stewart Parker, President of Trophy Signature Homes. “Our fresh designs, work from home plans, and simplified home buying process has been a huge success. At Trophy Signature Homes, the features shown in our models are standard and always included in the price of our homes. Our transparency has really resonated with buyers, and we are confident that Dove Hollow will be no different.”

Trophy Signature Homes is slated to begin construction of their homes in Dove Hollow mid-2022. Trophy Signature Homes is currently open for presales in nearby Buffalo Ridge with 3-5 bed, 2-4 bath homes priced from the $240’s. For more information on available Trophy Signature Homes in Waxahachie, please visit: https://trophysignaturehomes.com/communities/dallas-ft-worth/waxahachie/buffalo-ridge.

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/.

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.

Contact: Shalott Cecchini
Director of Marketing
Green Brick Partners
scecchini@greenbrickpartners.com
www.greenbrickpartners.com

FAQ

What is the Dove Hollow community being developed by Green Brick Partners?

Dove Hollow is a new single-family residential community in Waxahachie, Texas, featuring over 600 homes.

When will construction start at Dove Hollow?

Construction at Dove Hollow is slated to begin in mid-2022.

How many homes will be offered in Dove Hollow?

Dove Hollow will offer over 600 single-family homes.

Where is the Dove Hollow community located?

Dove Hollow is located in Waxahachie, Texas, east of I-35E.

What product lines will be offered at Dove Hollow?

Trophy Signature Homes plans to offer a mix of front and rear-entry homes across three product lines.