Sprout Closes on Phase 1A of North Vista Highlands - A Zero Energy Ready Residential Community In Pueblo Colorado
- February 20th, 2019
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PUEBLO, CO / CRWE PRESS RELEASE / February 20, 2019 – Sprout Tiny Homes, Inc. (OTC PINK: STHI), an industry leader in designing, manufacturing, and developing state-of-the-art Zero Energy ready homes announced today that it has successfully closed on the purchase of Phase 1A totaling 54.13 acres of land in North Vista Highlands, a new zero energy ready residential community in Pueblo, Colorado. North Vista Highlands is a 4850 home master planned community with the first 750 homes designated as zero energy ready homes.
The Phase 1A purchase includes an approved site plan totaling 162 lots for single family homes, town homes, and commercial mixed use residential units. “This milestone represents a strategic and diversified revenue opportunity in our business model from being a home manufacturer to a full scale developer through lot and home sales” stated Rod Stambaugh, President of Sprout. “We believe and interest is confirming that modern, zero energy ready, chemical free homes in a $250-290k price range will appeal a wide homebuyer market. We are excited to lead the development of Colorado’s first zero energy ready housing development at an affordable price point. We have already received interest from builders, real estate brokers, home buyers and have invited forward thinking builders to join our vision of delivering affordable, zero energy ready homes. The quality, energy efficiency, efficient use of space, adoption of new HVAC technology and home automation will establish a high bar as our next generation of affordable housing debuts in Pueblo, Colorado.”
Pueblo is well positioned as the next rapid growth area of Colorado with a moderate climate, plenty of water for growth, growing colleges, excellent healthcare and a favorable economic climate for Companies wanting to establish a Colorado presence. Sprout relocated to Pueblo in June of 2018 to expand its manufacturing operations. North Vista Highlands represents a vision Sprout has been advocating to deliver the next evolution in housing in a growth area that is affordable and can serve as a scalable model for the entire nation. Sprout homes check the boxes of an affordable price point, high-quality, healthy living with home automation and zero energy ready status.
About Sprout Tiny Homes:
Sprout Tiny Homes is a leading designer, developer and manufacturer of high-quality, zero energy ready homes with chemical free interiors. Sprout homes are built with modern building practices including structural insulated panels resulting in stronger, greener and truer homes. Sprout focuses exclusively on building commercial grade tiny homes to satisfy the growing demand of affordable housing communities, employee housing, overnight hotel / resort markets and homes for disabled and exceptional people. Using sustainable building materials where possible and pushing the boundaries of design and energy efficiencies are key attributes of Sprout homes. We manufacture tiny homes on wheels up to 400 sq. ft. and homes on foundations up to 1700 sq. ft. of living space. For more information on the company, visit http://sprouttinyhomes.com.
About North Vista Highlands:
North Vista Highlands is 1060 acres of land in the City of Pueblo, Colorado with approved zoning for 4,850 residential units and 1,225,000 square feet of retail/commercial. The Metro District Service Plans were approved by the City of Pueblo and are now operational. The development of the property is described below.
1. Development Area 1 – The development of 750 lots for sale to builders for single-family homes ranging from $180,000 to $325,000 located near the intersection of Vision Hills (formerly 47th) and Walking Stick Boulevard. Development Area 1 includes four phases and the site plan for Phase 1A consisting of 162 units and 43,000 square feet of commercial/retail space. The Phase 1A plat was approved by the Pueblo City Council in January 2019.
2. Development Area 2 – The formation of the metropolitan district will finance significant infrastructure and pave the way for the development of 4,100 residences and 1,225,000 square feet of commercial/retail space. This will include all types of residential, multi-family, commercial, and retail development, in addition to an active adult community, a state of the art dementia and memory center, and a full range of assisted care facilities.
Caution Concerning Forward Looking Statements:
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Acto fo 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results. performance or achievements of Sprout Tiny Homes, Inc. to differ materially from this implied or expressed by such forward-looking statements. This press release speaks as of the date set first set forth above , and Sprout Tiny Homes, Inc. assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in our industry.
Rod Stambaugh, President/CEO
SOURCE: Sprout Tiny Homes
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