Homebuilders to Expand into Hutto

Rhea-AI Summary

Trophy Signature Homes, a subsidiary of Green Brick Partners (NYSE: GRBK), and Meritage Homes (NYSE:MTH) announced the development of Prairie Winds, a new residential community in Hutto, Texas, opening in Q1 2025. The project will feature 1,093 homesites with prices starting in the $320,000s. Trophy Signature Homes will offer homes ranging from 1,000 to 2,700 square feet on various lot sizes. The development will include amenities like a resort-style pool, splash pad, parks, and sports courts, scheduled to open by Summer 2026. The community will be developed in seven phases and is located near Lee Martinez Elementary School.

Positive

• Large-scale development with 1,093 homesites indicating significant revenue potential
• Strategic location in one of Austin's fastest-growing suburbs
• Diverse product offering with multiple lot sizes and home configurations
• Competitive entry-level pricing starting at $320,000s

Negative

• None.

Insights

Market Research Analyst

Prairie Winds represents a significant strategic expansion in the high-growth Austin suburb market, with 1,093 homesites planned. The project's pricing strategy starting at $320,000 is well-positioned to capture the first-time homebuyer segment, particularly important given current market conditions and affordability concerns. The development's phased approach across seven stages helps manage inventory and cash flow while allowing price adjustments based on market response.

The amenity package scheduled for 2026 and proximity to educational facilities adds substantial value proposition, potentially supporting price appreciation. The diverse lot sizes (45' to 70') and square footage options (1,000-2,700 sq ft) create multiple price points, reducing market risk and broadening the buyer pool. This development could significantly impact GRBK's revenue stream starting Q1 2025, with the potential for sustained growth through the completion of all phases.

Prairie Winds to meet growing demand for homes in one of Austin’s fastest growing suburbs

HUTTO, Texas--(BUSINESS WIRE)-- Trophy Signature Homes, a subsidiary of Green Brick Partners, Inc. (NYSE: GRBK), and Meritage Homes (NYSE:MTH) are excited to announce the new Prairie Winds residential community, located off of CR 1660 and Limmer Loop, and opening in Q1 2025. This highly anticipated development will feature 1,093 homesites and offer a range of beautiful homes designed to suit first-time homebuyers and growing families alike.

With a blend of modern design and sustainable building practices, Trophy Signature Homes is scheduled to build its Trophy, Gem, and Texas Tree series in Prairie Winds. Trophy Signature Homes will offer homes on 45,' 50', 60’ and 70’ lots, with one-story and two-story floor plans ranging from 1,000 to 2,700 square feet and prices starting in the $320,000s. Prairie Winds will be developed in seven phases.

“We are thrilled to be a part of Prairie Winds, where we’ll offer modern architecture and cutting-edge, energy-efficient features that are often out of reach for first-time homebuyers. Our commitment is to build homes that not only look beautiful, but also are energy efficient, helping reduce energy consumption and costs for our homeowners," said Ryan Jerke, Austin Division President at Trophy Signature Homes.

"Meritage is proud to expand home ownership opportunities in the greater Austin area with quality and affordable homes at Prairie Winds. Further, we’re excited that our quick move-in ready homes can meet homebuyers’ needs,” said James Saunders, Division President at Meritage Homes.

Set to be a true destination for family living, Prairie Winds will also feature a suite of luxury amenities set to open by Summer 2026, including a resort-style pool and splash pad, open gathering spaces perfect for community events, parks, an event lawn, playground, and basketball and pickleball courts. The community is also conveniently located near Lee Martinez Elementary School at the west entrance, ensuring easy access to education for young families.

About Trophy Signature Homes

As a subsidiary of Green Brick Partners Inc., Trophy Signature Homes combines local building expertise with the strong financial resources of a national, diversified homebuilding and land development company. The Company is renowned for its modern architectural designs, comprehensive upgrades bundled with the home’s price, and its ENERGY STAR® certified homes.

For more information about homes and communities, please visit TrophySignatureHomes.com or connect on Facebook, Instagram and TikTok.

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 through its seven subsidiary homebuilders in Texas, Georgia, and Florida. 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. Green Brick 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/brands-services/

About Meritage Homes Corporation

Meritage is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage has delivered over 185,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, an eleven-time recipient of the U.S. Environmental Protection Agency’s (EPA) ENERGY STAR® Partner of the Year for Sustained Excellence Award and Residential New Construction Market Leader Award, as well as a four-time recipient of the EPA's Indoor airPLUS Leader Award.

For more information, visit www.meritagehomes.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241029058586/en/

Trophy Signature Homes Contact:

Yvette Rhea

(469) 777-0271

yrhea@trophysignaturehomes.com

Green Brick Partners Contact:

Benting Hu

469-573-6755

IR@greenbrickpartners.com

Meritage Homes Contact:

Sheridan Burnett

210-854-5413

sheridan.burnett@meritagehomes.com

Source: Green Brick Partners, Inc.

FAQ

When will Green Brick Partners' Prairie Winds community in Hutto open?

Prairie Winds community in Hutto is scheduled to open in Q1 2025.

How many homesites will be available in GRBK's Prairie Winds development?

Prairie Winds will feature 1,093 homesites.

What is the starting price for homes in Green Brick Partners' Prairie Winds community?

Homes in Prairie Winds will start in the $320,000s.

What amenities will be included in GRBK's Prairie Winds development?

Prairie Winds will include a resort-style pool, splash pad, parks, event lawn, playground, and basketball and pickleball courts, scheduled to open by Summer 2026.