Stratus Properties Inc. Announces Holden Hills, a New Residential Development in Barton Creek

Stratus Properties Inc., a diversified real estate company, has announced the launch of Holden Hills, a new residential development in the desirable Barton Creek community. The project features 475 home sites, with a focus on design sustainability, renewable energy, and natural amenities. Stratus's Chairman, President, and Chief Executive Officer, William H. Armstrong III, stated that the company's buyer demographic is driven by health and wellness, and that Holden Hills will cater to this demand with high-performing building systems, non-toxic materials, and proximity to natural amenities. The project is subject to financing and market conditions, with engineering for roads and utilities already completed, and final permits anticipated in the second or third quarter of 2021.

Key Takeaways:

• Holden Hills is a new residential development in the Barton Creek community, featuring 475 home sites with a focus on design sustainability, renewable energy, and natural amenities.
• Stratus's buyer demographic is driven by health and wellness, and the company's research shows that consumers link their internal and external environments to their overall health.
• Holden Hills incorporates extensive use of renewable energy, including solar, to minimize the community's carbon footprint.
• Water conservation is a priority, given the unique geology of the location in central Texas.
• Residents will enjoy an ideal location minutes from downtown Austin, with easy access to surrounding restaurants, shops, and entertainment.
• Engineering for roads and utilities has been completed, and Stratus anticipates securing final permits in the second or third quarter of 2021.
• Stratus expects to complete site work for phase one, including the construction of road, utility, drainage, and other required infrastructure, approximately 17 months from the issuance of the final permits.
• Phases one and two of the Holden Hills development plan encompass the development of the home sites, with the option for Stratus to sell developed home sites, build and sell, or build and lease homes.

Statistics:

• 475 home sites will be developed in Holden Hills.
• The project is expected to incorporate extensive use of renewable energy, including solar.
• Water conservation is a priority, given the unique geology of the location in central Texas.
• Engineering for roads and utilities has been completed, with final permits anticipated in the second or third quarter of 2021.
• Stratus expects to complete site work for phase one in approximately 17 months.

Sources:

• Stratus Properties Inc., press release dated April 28, 2021, titled "Stratus Properties Inc. Announces Holden Hills, a New Residential Development in Barton Creek."
• Stratus Properties Inc., Form 8-K filing dated April 28, 2021, with the U.S. Securities and Exchange Commission.