PLANO, TX– (FEB 19, 2019) – Green Brick Partners, Inc. (Nasdaq: GRBK) (“Green Brick”) is pleased to announce that Green Brick Partners’ subsidiary, Trophy Signature Homes (Trophy), has broken ground on its first model home in the master-planned Hollyhock community of Frisco, Texas. This marks Trophy’s entry into the Frisco market.
“We are pleased to see Trophy breaking ground and starting construction on their first community,” said Jed Dolson, President of the Texas Region for Green Brick Partners. “With more than 1,100 future home sites, Trophy is exceptionally positioned for growth in 2019 and beyond.”
At Hollyhock, Trophy will be offering buyers looking to live in coveted west Frisco a low-maintenance lifestyle with the latest energy-efficient technologies in homes priced from the high $300’s. The company offers five floor plans ranging from 4-5 bedrooms and 3-4 bathrooms. Homes will feature oversized garages, home automation, wooden floors, and double convection ovens. The model home will also include an exciting interactive experience for buyers.
“Our goal was to create elegant homes within Frisco ISD that appeal to luxury buyers looking for the best value for their home shopping budget,” said Stewart Parker, President of Trophy Signature Homes. “Each of our homes has been meticulously planned with high efficiency and green technology. From foam insulation to the modern gas-free fireplaces, we have worked tirelessly to bring high-end home finishes to value-oriented homeowners.”
Trophy will construct 43 homes in the community and anticipates opening the model home in late April. Inventory homes will be available for move-in as early as July.
About Green Brick Partners, Inc.: Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns a controlling interest in five homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Centre Living Homes, and Trophy Signature Homes), as well as 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.
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