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Greenbriar Executes Binding Agreement to Acquire the 1,361 Acre Cordero Ranch Project Located in Cedar City, Utah
Scottsdale, Arizona--(Newsfile Corp. - February 4, 2025) - Greenbriar Sustainable Living Inc. (TS...
About this update from Greenbriar Sustainable Living Inc
[{"type":"text","content":"Greenbriar Executes Binding Agreement to Acquire the 1,361 Acre Cordero Ranch Project Located in Cedar City, UtahScottsdale, Arizona--(Newsfile Corp. - February 4, 2025) - Greenbriar Sustainable Living Inc. (TSXV: GRB) (OTC Pink: GEBRF) (\"Greenbriar\" or the \"Company\") is pleased to announce that it has executed a binding agreement to acquire the 1,361 Acre Cordero Ranch project located in Cedar City, Utah. Mr. Tommy Sullivan, Chairman of our real estate advisory board and an investor in Greenbriar, purchased the Cordero Ranch property in 2002 in Cedar City, Utah and comprised of 1,361 acres. The property was annexed into the city in 2008 in exchange for Mr. Sullivan gifting adjudicated water rights to the city. On December 7th, 2009 the city executed a Master Plan Development Agreement for Cordero Ranch that is still in full force and effect today, approving and authorizing the construction of 6,726 homes and with the city providing full water, sewer and ancillary services. The 6,726 homes in the Master Plan comprise 2,034 acres with 4,501 of these fully approved homesites within a 1,361 acres keystone center parcel.The company has engaged Watson Engineering, who will prepare a revised Master Plan that will augment the original plan above with a new south campus space for SUU (Southern Utah University), and include retail, offices, married student housing, and small sustainable entry-level homes, (average approximately 1,000 SF) starting at $300,000+. From the community side, our master planning and approval process is supported by Matt Hall, Director of International Affairs for the LDS, Senator Evan Vickers of Cedar City, and Ric Hollman, the former city manager for 16 years of Cedar City. We will update everyone when the revised Master Plan is filed. Once complete, the approval process in Utah is less than six (6) months for full approval of the new plan. Note that the complex environmental and political issues that Greenbriar is addressing in California, and where approval processes can take six (6) years, do not exist in Southern Utah. The approval process in Utah is an order of magnitude faster (approximately six months).From the advisory and sales-side we partnered with our brokerage partner and close friend Colonel Dan S. Roberts, a highly recognized and respected member of the community. Dan's family founded Souther...