ACTIVE DEMAND DRIVES GEORGETOWN-BASED PARMER RANCH MPC EXPANSION

GEORGETOWN, Texas, Feb. 16, 2022 /PRNewswire/ -- Austin-based developer Owen Holdings Inc. has begun construction on 220 new homesites in the second and third phases of Parmer Ranch, a 454-acre, residential mixed-use community in Georgetown, TX, north of Austin. Scheduled completion on these phases is May, 2022. Owen Holdings also plans to launch construction on an additional 350 home sites in Q2 2022.

Phase 1, consisting of 155 home sites, opened in summer 2021, with lots selling quickly. Home builders Gehan Homes and Empire Communities are operating from temporary trailers on site, and GFO Homes is building its first stand-alone model, which will open by late January, 2022. Sitterle Homes is also actively selling Parmer Ranch lots and homes from an off-site center.

"We anticipated interest in our home sites when we first commenced Parmer Ranch two years ago," said Joe Owen, president of Owen Holdings. "Brisk sales and unprecedented demand led us to start construction on new homes sites and on-site amenities well ahead of schedule."

Also under development at Parmer Ranch is Parmer Park, a 10-acre open park that will offer hiking trails, a zip line and playground. Additional plans call for an on-site amenity center with a pool, and development of several community parks. Furthermore, the Georgetown Independent School District will begin development of its New Benold Middle School during summer 2022, with the opening scheduled in time for the 2024-2025 school year.

"It's exciting for the project to come to life," said Nathaniel Klugman, a developer who is working with Owen Holdings on Parmer Ranch. "It's exciting when our builders tell us they need more lots after only five months of active sales." He went on to say that the enthusiastic response from individuals and families has also been gratifying, adding that "we're committed to delivering these future phases with equal quality. Our aim is to make Parmer Ranch a welcoming place for current and future residents of Georgetown."

About Parmer Ranch

Situated against a scenic Hill Country backdrop and located near Austin's thriving technical hubs, Parmer Ranch is a mixed-use residential community at the intersection of Ronald Regan Boulevard and Williams Drive in Georgetown, Texas. Upon buildout, the master-planned community will offer 1,000 single-family homes, developed by Empire Communities, Gehan Homes, GFO Homes and Sitterle Homes. Parmer Ranch will also hold an amenity center, hiking trails, 100 acres of dedicated commercial real estate space and two dedicated school sites served by the Georgetown Independent School District. Home prices start at $300,000. For more information, visit parmerranch.com.

About Owen Holdings

Owen Holdings Inc., founded by long-time real estate professional Joe Owen, focuses exclusively on Texas projects and developments. In addition to Parmer Ranch, Owen Holdings developed and manages North Haven, a master-planned residential community in Liberty, and Crystal Falls Business Park in Leander.

SOURCE Owen Holdings