GRBK - Green Brick Partners announces expansion into Austin Texas

Green Brick Partners (NYSE:GRBK) will expand into the Austin, Texas market through its Trophy Signature Homes brand. GRBK purchased ~383 acres of land in Elgin, Texas to develop its first Austin-area community, Trinity Ranch. The neighborhood will be developed as a 50-50 joint development with one of the largest public homebuilders. The 1,700+ home community will have 850 homesites with lot widths of 40-50 ft. Construction of the homes is currently slated to start by early 2023, and GRBK anticipates opening for sales in the spring of 2023. The company is also pursuing other expansion opportunities in Austin. “Inventory of new homes, particularly entry-level homes, continues to be limited and is exacerbating the issue of access to affordable homeownership. By expanding our footprint to Austin, we seek to alleviate some of these issues through our entry-level homes,” said Jed Dolson, COO, GRBK.

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Green Brick Partners announces expansion into Austin, Texas