Greenbriar Receives Full and Final Sage Ranch Approval
August 17, 2021
The Company is extremely pleased to announce that the USD $480 Million – 995-unit Sage Ranch sustainable housing project located in Southern California has received full and final approval by the Mayor and City Council with a unanimous 4 to 0 vote in favor to approve Sage Ranch. The Mayor and City Council approved all three items on the agenda, namely: 1) the approval of the Sage Ranch Master Development Plan; 2) The approval of the 995 home Tract Map and; 3) The approval and acceptance of the exhaustive Final Environmental Impact Report. (“FEIR”)
This concludes the end of all the discretionary approvals and now Sage Ranch has received Full Entitlement.
The company will now complete its concurrent effort to: a) Execute the Master Agreement with our General Contractor; b) obtain our sales approval from the California Department of Real Estate to accept non-refundable deposits, and; c) filing of our Precise Development Plan and all other permits to start construction. The Company wants shareholders to know these next steps are perfunctory in nature, meaning their approval is granted on following defined regulations and statutes. There is no more subjective or political hold-back. You follow the rules and the permits are issued.
Sage Ranch is a critically essential USD $480 Million, 995 home sustainable sub-division. Non-dilutionary bank construction financing can be provided at the project level. Further, the USDA and other federal agencies provide 30 to 38-year, sub (2%) two percent home purchase mortgages requiring only a 3% down payment, making the mortgage payments to assist professional families, seniors and single occupants, an affordable home ownership package that is less expensive than renting.
Greenbriar owns the 995-unit project without any debt, being one of the only projects of this size in the USA, to own 995 lots, debt-free. This is in and of itself a USD $120 - $150 Million net value to Greenbriar.
Greenbriar has been invested in this project since 2011. In attendance on August 16 to support the construction for this project, was our engineers and senior team leadership that backed our project to benefit the massive government aviation projects which support professional families, both uniformed and civilians, located nearby who need new, modern and safe housing.
Greenbriar congratulates the City Staff and the community as a whole, for enabling Sage Ranch to have the lowest carbon footprint of any housing project of this size in the USA. Immediately adjacent Sage Ranch, are a high school, middle school and elementary school, virtually eliminating automobile travel for education and sports. Contained within Sage Ranch are nine parks, a swimming pool, clubhouse, and soccer and tennis courts. Greenbriar will have the appropriate certification agencies document and register the carbon credits created by the offsetting of millions of tons of CO2 emissions. Sage Ranch is also a short five block walk to the historic downtown.
Sage Ranch has engaged Paul Morris-Forward Living Keller Williams, to lead the sales effort. We already have over 250 homes as a purchase request. Paul Morris is a significant Keller Williams' Regional Owner and Regional Director for three California Regions (Central, South Central & Southern California), where he has oversight of 36 offices and more than 8,400 realtors who close more than $18 billion in sales volume per year.
In addition, as CEO of Forward Living, Paul has grown his own offices to become Keller Williams’ #1 franchisee outside of Texas with ownership in nine offices and with more than 3,400 realtors and $9.0 billion in annualized closed volume. Paul and his team have led Keller Williams Realty to the #1 spot for market share in Los Angeles City, Los Angeles County and Beverly Hills. Real Trends 500 ranks Paul's group as the 24th largest real estate brokerage firm by volume in the U.S. and the 2020 Swanepoel 200 ranked Paul as the 64th most powerful person in residential real estate in the U.S.
Keller Williams awarded Paul the prestigious Entrepreneur of the Year Award, he is quoted in Gary Keller's Millionaire Real Estate Investor book, and is a part of the Keller Williams Master Faculty. Paul is the author of the New York Times Bestselling book Wealth Can't Wait (www.wealth.org). Paul embodies servant leadership and we are proud to be in business with him.
Paul is an Oxford Graduate, Cornell Law School Juris Doctorate and prior to working full-time in real estate, Paul had a successful legal career - highlights which include his work at the international law firm Proskauer Rose, and as Senior Counsel at the US Department of Justice consistently reporting to the US Attorney General Janet Reno and to the Counsel of the President of the United States.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer and Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release may contain forward-looking statements. All statements, other than statements of historical fact, constitute “forward-looking statements” and include any information that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including the Company’s strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance.
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