Business
Pure Cycle Corporation Announces Changes to Builders for Second Phase of Development at Sky Ranch and Announces Launch of Twitter Account
DENVER, CO / ACCESSWIRE / February 22, 2021 / Pure Cycle Corporation (NASDAQ:PCYO) announced today that it has entered into a new agreement with Lennar Homes
About this update from Pure Cycle Corporation
[{"type":"text","content":"DENVER, CO / ACCESSWIRE / February 22, 2021 / Pure Cycle Corporation (NASDAQ:PCYO) announced today that it has entered into a new agreement with Lennar Homes to build 218 detached homes and townhomes in the second development phase at Sky Ranch. Lennar will be taking the lots that were under contract with Meritage Homes, as Pure Cycle and Meritage have agreed to terminate the Meritage contract.In November 2020, Pure Cycle announced it entered into agreements for the sale of residential lots in the second phase of the Sky Ranch Master Planned Community. Today, Pure Cycle announces that Meritage Homes will not be moving forward with its planned participation in the second development phase. Due to the success of the first phase at Sky Ranch, which is nearly sold out, Pure Cycle and Lennar were able to quickly come to terms on Lennar's participation in the Sky Ranch development, and Pure Cycle is pleased to add one of the nation's largest home builders to the project.The second phase construction schedule of Sky Ranch is not expected to be altered due to the builder change and the overall budget and number of units offered also did not change. Pure Cycle has its grading permits, and its grading contractor is mobilizing on the site this week to begin construction for lot deliveries this fall. \"Although we were disappointed that we will not be working with Meritage in this next development phase, we are thrilled to welcome Lennar Homes to the Sky Ranch family!\" commented Mark W. Harding, President of Pure Cycle. \"Lennar is one of the nation's leading home builders and we are excited to announce they will be joining the distinguished list of KB Home, DR Horton (Melody Homes) and Challenger Homes to bring the next generation of homes to the popular Sky Ranch community,\" concluded Mr. Harding.Additionally, Pure Cycle is officially announcing its Twitter Account @PureCycleCorp. Pure Cycle announces material information to the public about its services and other matters through a variety of means, including press releases issued by Pure Cycle posted by on NASDAQ, filings with the Securities and Exchange Commission through the SEC EDGAR Database at www.sec.gov, its website at www.purecyclewater.com, and now social media through its Twitter account (https://twitter.com/PureCycleCorp) in order to achieve broad, non-exclusionary distribut...