Project UpdateJul 10, 2026, 08:07 AM
Greenbriar Nears Closing Stage for Sage Ranch Project
AI Summary
Greenbriar Sustainable Living Inc. announced significant progress on its Sage Ranch project, entering the pre-closing stage. The company has acquired 267 acre-feet of deeded water rights and secured additional water rights through escrow agreements. Greenbriar also re-executed a Mandate Agreement with its Project Finance lender to fund construction and will now proceed with soliciting bids and applying for necessary permits for the 995-home development.
Key Highlights
- Acquired 267 acre-feet of deeded water rights for the Sage Ranch project.
- Paul Morris placed 76 acre-feet of deeded water in an irrevocable escrow account.
- Ronnie Strasser will soon place water in an irrevocable escrow account.
- Sage Ranch project will include 995 homes with reduced water usage due to new analysis and landscaping.
- Project is expected to generate over $260 million in new construction work over 7 years.
- Re-executed Mandate Agreement with Project Finance lender on July 7, 2026, for construction funding.
- Will now solicit bids from subtrades and apply for permits for grading, utilities, and roads.
Price Impact
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