Utah road sign
(Source: Adobe Stock)
  • Greenbriar Sustainable Living (TSXV:GRB), a real estate and renewable energy developer, acquired the 1,361-acre Cordero Ranch project in Cedar City, Utah
  • The company intends to build over 4,500 homes on the land, in addition to a campus space for Southern Utah University
  • Greenbriar is a sustainable real estate and renewable energy developer focused on long-term, high-impact projects poised to deliver shareholder value
  • Greenbriar Sustainable Living stock has given back 15.12 per cent year-over-year but remains up by 30.36 per cent since 2020

Greenbriar Sustainable Living (TSXV:GRB), a real estate and renewable energy developer, acquired the 1,361-acre Cordero Ranch project in Cedar City, Utah.

Tommy Sullivan, chairman of the company’s real estate advisory board and a Greenbriar shareholder, purchased the Cordero Ranch in 2002.

On December 7th, 2009, Cedar City executed a master plan development agreement for the property, still in effect today, authorizing the construction of 6,726 homes, with the city providing full water, sewer and ancillary services. The 6,726 homes occupy 2,034 acres, with 4,501 homes located within Cordero’s acreage.

Cordero Ranch site in Utah
The Cordero Ranch site in Utah. (Source: Greenbriar Sustainable Living)

Greenbriar has hired Watson Engineering to revise the master plan to include a new south campus space for Southern Utah University (SUU), including retail, offices, married student housing and small sustainable entry-level homes starting at $300,000. The Greenbriar team recently met in person with SUU leadership to optimize Cordero towards the university’s long-term plan to grow from 14,700 students to 30,000 students.

The master planning and approval process is supported by Matt Hall, director of international affairs for the LDS; Senator Evan Vickers of Cedar City; Ric Hollman, the former city manager for 16 years of Cedar City; and Colonel Dan S. Roberts, a highly recognized community member who’s family founded Southern Utah University in 1897.

Greenbriar estimates Cordero to generate over C$340 million in revenue and over C$96 million in free cash flow through 2032.

Investors can expect an update once the new plan is filed and when the government delivers its approval decision within six months.

The company is also putting the final touches on a loan agreement to build its Sage Ranch community in Tehachapi, California, composed of 995 entry-level homes located 80 minutes from Los Angeles.

About Greenbriar Sustainable Living

Greenbriar is a sustainable real estate and renewable energy developer focused on long-term, high-impact projects poised to deliver shareholder value. The company is guided by an industry-recognized operating and development team.

Greenbriar Sustainable Living stock (TSXV:GRB) is up by 43.14 per cent trading at C$0.73 per share as of 9:34 am ET. The stock has given back 15.12 per cent year-over-year but remains up by 30.36 per cent since 2020.

Join the discussion: Find out what everybody’s saying about this real estate and renewable energy stock on the Greenbriar Sustainable Living Inc. Bullboard and check out Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

(Top photo of a Utah road sign: Adobe Stock)


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