Expansion marks a key milestone for TRI Pointe Group as it grows
its national platform in a top performing market
AUSTIN, Texas--(BUSINESS WIRE)--
TRI Pointe Group (NYSE: TPH), one of the top 10 largest public
homebuilders in the United States based on equity market capitalization,
announced today its expansion into Austin, Texas, growing the company’s
platform into another major U.S. market. The expansion is a result of an
initial acquisition in Hays County by Houston-based Trendmaker Homes, a
member of the TRI Pointe Group. The acquisition will ultimately include
38 lots for single-family homes within the Belterra master-planned
community by Crescent Communities. While this is Trendmaker Homes’ first
official land acquisition in Austin, the company is in the process of
securing additional homesites at a second location, further
demonstrating plans to strengthen its presence in the city.
“Austin marks an exciting milestone for us,” said Doug Bauer, CEO of TRI
Pointe Group. “TRI Pointe Group is a growth-oriented homebuilder focused
on some of the country’s top performing housing markets and Trendmaker
Homes’ expansion into Austin aligns with our overall land acquisition
strategy. It also demonstrates TRI Pointe’s ability to leverage our
national resources and leadership, while utilizing the regional
expertise and agility of Trendmaker’s local builder brand.”
With an attractive amount of new home starts and new jobs in the last 12
months alone, TRI Pointe Group and Trendmaker Homes recognized the great
opportunity Austin offered for expansion into this region.
“After nearly 45 years in the Houston market, we are thrilled to grow
our footprint in Texas,” said Will Holder, president of Trendmaker
Homes. “Austin has experienced tremendous job growth in the last year
and, as a member of the TRI Pointe Group, we are well-positioned both
financially and operationally to expand our platform, bringing Austin
homebuyers new designs as well as the included features that Trendmaker
has become known for.”
Situated within the San Saba neighborhood of Belterra, Trendmaker’s
homes will feature unique designs to complement the region’s Hill
Country landscape. The eight floor plans with three elevations each will
range from 3,400 square feet to 4,200 square feet. Sales are slated to
begin in January 2016, with a targeted grand opening planned for April
2016.
Located near Dripping Springs, Texas, off of Highway 290 West,
Belterra’s 1,600 acres of rolling hills offers residents the convenience
of city living and resort-style amenities within the beauty of the Texas
Hill Country. Recognized by the Austin Business Journal as the
2015 Master-Planned Community of the Year, the development includes more
than 400 acres of open space and more than six miles of native and
landscaped trails throughout the community.
For more information on TRI Pointe Group, please visit www.TriPointeGroup.com.
About TRI Pointe Group
Headquartered in Irvine, Calif., TRI Pointe Group (NYSE: TPH) is a
family of premium regional homebuilders that design, build and sell
homes in major U.S. markets. As one of the top 10 largest public
homebuilding companies by market capitalization in the United States,
TRI Pointe Group combines the resources, operational sophistication and
leadership of a national organization with the regional insights,
community ties and agility of local homebuilders. The TRI Pointe Group
family includes Maracay Homes in Arizona, Pardee Homes in California and
Nevada, Quadrant Homes in Washington, Trendmaker Homes in Texas, TRI
Pointe Homes in California and Colorado, and Winchester Homes in the
Washington, D.C. area. TRI Pointe Group was recognized as 2014 Developer
of the Year and 2015 Builder of the Year. For more information, please
visit www.TriPointeGroup.com.
About Trendmaker Homes
Established in 1971, Trendmaker
Homes is recognized as one of Houston’s premier new home builders.
Over the decades, Trendmaker has defined the concept of a luxury home
for generations of Houstonians. The company focuses on the needs and
desires of the most discriminating home buyers through innovative
designs and customer service. Trendmaker’s logo, the iconic “T”, is more
than a symbol of a premier home; it represents nothing less than a
superior home-buying experience. Trendmaker Homes is a member of TRI
Pointe Group (NYSE: TPH), a family of premium regional homebuilders
supported by the significant resources, economies of scale and thought
leadership of a national foundation. Together this makes TRI Pointe
Group one of the top 10 largest public homebuilders by market
capitalization in the U.S. For more information about Trendmaker Homes,
please visit www.TrendmakerHomes.com.
Forward-Looking Statements
Except for the historical information contained in this press release,
the matters set forth in this press release, including statements
regarding the Company's plans with respect to building and selling
homes, are forward-looking statements within the meaning of the "safe
harbor" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, the
effect of general economic conditions, including employment rates,
housing starts, interest rate levels, availability of financing for home
mortgages, the strength of the U.S. dollar, adverse weather, regulatory
approvals, labor shortages and other risks detailed in the Company's
Annual Report on Form 10-K for the year ended December 31, 2014 and
other documents subsequently filed with or furnished to the Securities
and Exchange Commission. However, it is not possible to predict or
identify all such risks and uncertainties. Consequently, while the
foregoing list is considered representative, no such list should be
considered to be a complete statement of all potential risks and
uncertainties. These forward-looking statements are based on current
information that may change and you are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified
in their entirety by this cautionary statement, and the Company
undertakes no obligation to revise or update any forward-looking
statement to reflect events or circumstances after the issuance of this
press release.
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Source: TRI Pointe Group