Plano-based Green Brick Partners, Inc. (NASDAQ: GRBK) on May 27 announced the acquisition and development of ten communities across Dallas-Fort Worth and Atlanta for over 6,000 homes.
“We are continuing to see record-demand for homes and in an effort to keep up with demand we have closed on over 5,700 homesites in the Dallas-Fort Worth metroplex, and in excess of 300 in the Atlanta Metropolitan Area,” said Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners. “We are working quickly to remedy the low supply of new homes in our core markets. We believe that our proven ability to create an exceptional lot pipeline is a strategic advantage in a market like this where lots are in very low supply.”
The ten new neighborhoods will feature homes from Green Brick Partners subsidiary builders Trophy Signature Homes, CB JENI Homes, Southgate Homes, Centre Living homes, and Normandy Homes in Texas, as well as The Providence Group in Georgia.
“Housing demand continues to far exceed supply due to historically low existing inventory and very high demand for energy-efficient new homes in superior school districts like we build,” said Jim Brickman, Chief Executive Officer and Co-Founder of Green Brick Partners. “The 2,458 new homes we currently have under construction is by far the largest in the history of our company, and we are continuously optimizing our processes to improve cycle times. With the recent addition of Jack Wilkins as our Director of National Purchasing, we are working hard to overcome the supply chain bottlenecks that all homebuilders are experiencing.”
In Texas, the communities will be located in the cities of Frisco, Allen, McKinney, Forney, Princeton, Grand Prairie, and Waxahachie. In Georgia, the communities will be located in the cities of Alpharetta and Sugar Hill.