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New Cibolo Hills Development to Add 700 Homes to Fort Worth’s Residential Offering

1065 Days ago

FORT WORTH, Texas, July 29, 2019 (GLOBE NEWSWIRE) -- Meritage Homes in partnership with a subsidiary of Green Brick Partners Inc., has closed on the purchase of 700 lots within the Cibolo Hills subdivision in Fort Worth, TX. The community will be a 50/50 partnership between Meritage Homes and Trophy Signature Homes, a subsidiary of Green Brick Partners. Construction of the approximately 216-acre property is projected to start in October 2019 and is expected to include all 50’ x 120’ lots, with 40’ single-family detached homes.

A large master-planned community located in Fort Worth’s Eagle Mountain Saginaw ISD, Cibolo Hills will sit adjacent to Business 287 and offer less than a 30-minute commute to either Alliance Town Center or Downtown Fort Worth. The development plan includes extensive amenities throughout, including parks, trails, landscaped open spaces, and a large amenity center with pool.

“We view this as a tremendous opportunity to expand our footprint of energy-efficient, thoughtfully designed, affordable homes in Fort Worth,” said Austin Woffinden, Dallas division president at Meritage Homes. “Extensive amenities, two future onsite schools and a bustling retail offering in the fast-growing area of North Fort Worth make Cibolo Hills ideal for future homeowners.”

Meritage Homes plans to build 350 single-family LiVE.NOW homes in Cibolo Hills, offering buyers six distinct floorplans to choose from that range in size from 1,659 to 3,100 square feet. These beautifully designed and affordable homes will include designer-curated interior packages and the M. Connected Home™ Automation Suite. The M. Connected Home™ Automation Suite encompasses an array of features allowing owners to interact with their home and take command whether they are inside or away from the property. These features include Wi-Fi-enabled lighting, video doorbells, thermostats, smart door locks and more. Designed to appeal to families or empty nesters, homes are expected to start in the $200s. Every home Meritage builds in its 43 DFW-area communities showcases the company’s commitment to providing incredibly energy-efficient homes that help customers save on utility bills.

“The proximity to attractive amenities including Eagle Mountain Lake will make Cibolo Hills a treasured retreat for those seeking to live immersed in the bountiful nearby parks and wildlife while maintaining easy access to major employment centers in Fort Worth,” said Stewart Parker, president of Trophy Signature Homes. “We believe that our stylish exteriors mixed with our striking, state-of-the-art interiors will resonate well with area homebuyers.”

Trophy Signature Homes will be offering their Trophy Series of homes that features a selection of plans ranging from 1,600-2,700 square feet and 3-5 bed and 2-3 bath options. As with every Trophy Signature Homes community, all upgrades, including engineered wood floors, cooktops with built in ranges and café hoods, will be included as standard features. The 350 homes will be priced competitively, starting in the mid $200’s.

Home sales are expected to begin in Spring 2021. For more information about Cibolo Hills, please contact Kelsey Covey at kelsey.covey@meritagehomes.com or Shalott Cecchini at scecchini@greenbrickpartners.com.

About Meritage Homes
Meritage Homes is the seventh-largest public homebuilder in the United States, based on homes closed in 2018. Meritage offers a variety of homes that are designed with a focus on first-time and first move-up buyers in Arizona, California, Colorado, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

The Company has designed and built over 120,000 homes in its 34-year history, and has a reputation for its distinctive style, quality construction, and positive customer experience. Meritage is the industry leader in energy-efficient homebuilding and has received the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year for Sustained Excellence Award every year since 2013 for innovation and industry leadership in energy efficient homebuilding.

For more information, visit www.meritagehomes.com.

About Green Brick Partners and Trophy Signature Homes:
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.

Meritage Homes Media Contact:
Kelsey Covey
(972) 580-6355

Trophy Signature Homes Media Contact:
Shalott Cecchini
(469) 573-6741

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