Green Brick Partners, Inc. (GRBK)

[Enterprising Investor]

Green Brick Partners Announces Two New Townhome Developments Near Downtown Dallas (5/18/16)

PLANO, TX--(Marketwired - May 18, 2016) - Green Brick Partners, Inc. (NASDAQ: GRBK) recently acquired land at 3200 Ross Avenue near Downtown Dallas for development of 19 townhomes. The homes will be built by Green Brick Partners subsidiary Centre Living Homes. The four story townhomes will have approximately 2,300 square feet with rooftop decks overlooking the downtown skyline and priced from the low $500s.

"This is a limited opportunity to offer new, modern-style townhomes in the thriving Ross Avenue corridor," said Centre Living Homes President, Trevor Brickman. "The initial homes in the development are scheduled to be available in late 2016."

In a separate transaction, Green Brick Partners also acquired 26 townhome sites near downtown Dallas at Live Oak and Fitzhugh Avenue. The two and three story homes will be built by Centre Living Homes and will feature two and three bedroom plans ranging from 1,800 square feet. The townhomes will be priced from the $350s with the first homes scheduled to be available in the spring of 2017.

Centre Living is currently selling ultra-modern townhomes with private courtyards designed by award winning architect Buchanan Architecture at Colvin Court in the 4000 block of Gilbert Avenue priced from the high 500s.

About Green Brick Partners, Inc.:

Green Brick Partners, Inc. (NASDAQ: GRBK) is a uniquely structured company that combines residential land development and homebuilding. The Company acquires and develops land, provides land and construction financing to its controlled builders and participates in the profits of its controlled builders. The Company owns a controlling interest in four homebuilding companies in Dallas, Texas (CB JENI Homes DFW LLC, Normandy Homes (a division of CB JENI), Southgate Homes DFW LLC, and Centre Living Homes LLC) as well as a leading homebuilder in Atlanta, Georgia (The Providence Group of Georgia, L.L.C.). The Company is engaged in all aspects of the homebuilding process including land acquisition and the development, entitlement, design, construction, marketing and sales for its residential neighborhoods and master planned communities. For more information about Green Brick Partners and its homebuilding partners, go to www.greenbrickpartners.com.

About Centre Living Homes:

Centre Living Homes is a custom homebuilding company dedicated to quality, state of the art construction, excellent craftsmanship, modern features and personal service beyond the sale. The Company designs and builds in premier, centrally located Dallas neighborhoods with a uniquely modern architectural style. For more information about Centre Living Homes, go to www.centrelivinghomes.com.

http://www.marketwired.com/press-release/green-brick-partners-announces-two-new-townhome-developments-near-downtown-dallas-2126256.htm