Newport Beach, California–(Newsfile Corp. – August 17, 2022) – Greenbriar Capital Corp. (TSXV: GRB) (OTC Pink: GEBRF) (“Greenbriar“) Greenbriar is extremely pleased to announce its discussions today with government officials regarding the unique and high demand for entry level housing in Tehachapi that is running completely opposite to the general housing market trend in both demand and price uptrend.
With respect to demand, the Inland Dry Port located 20 miles away, will employee a minimum of 3,000 new high paying union jobs and will be considered an offshoot of the Port of Los Angeles and Port of Long Beach. In addition, there are four additional major infrastructure projects approved, including the largest wind energy to hydrogen fuel production plant in California. In total, the five fully approved infrastructure projects will immediately require 3,500 new homes in Tehachapi. Greenbriar is extremely blessed to have a fully entitled 995 home debt-free subdivision that is the only viable solution to providing new homes for this demand. This new demand is in addition to Edwards AFB, Space X, Northrup Plant 42 and the entire aviation community. There are simply no meaningful water rights left after Sage Ranch, to provide more than another several hundred homes after Sage Ranch. We are delighted to secure in excess of the water rights needed.
Sage Ranch has the unique advantage of an environmental gold-medal location, being immediately adjacent the only high school, an elementary school and middle school, offering a near zero carbon footprint because of vastly reduced automobile usage. Add to this dream location, the approved entitlement, zoning, solar roofs, recycled grey water, smart meters and appliances and we have a location that no other real estate development can offer, anywhere. Sage Ranch is in the USDA overlay for 1.9% 38 year no-down payment mortgages (earn up to $125,000 with five dependents to qualify) and located in the safest region in Kern County and 44 safest in California. Sage Ranch has no peers.
With respect to price uptrend, four new small homes located seven blocks away are in escrow for $549,000 each, which is $130,000 higher per home than in the Altus report. The upward price pressure in Tehachapi is driven by the raw demand due to major infrastructure projects, ideal mountain community with clean air located 75 minutes north of Los Angeles, and a low crime and family community.
The Engineering team and General Contractor for Sage Ranch met with City staff last week, and are putting the final painstaking touches to the PDP.
Greenbriar met with Phantom Developments in Toronto last week and Phantom is reviewing the additional facts needed for bid price improvement.
About Greenbriar Capital Corp:
Greenbriar is a leading developer of renewable energy and sustainable real estate. With long-term, high impact, contracted sales agreements in key project locations and led by a successful, industry-recognized operating and development team, Greenbriar targets deep valued assets directed at accretive shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
Jeffrey J. Ciachurski
Chief Executive Officer and Director
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