Green Brick Announces Three New Communities in Atlanta, Georgia
Green Brick Partners to bring over 450 homes across three communities through its subsidiary homebuilder brand, The Providence Group to Atlanta, GA
PLANO, TX and Atlanta, GA – (September 1st, 2021) – Green Brick Partners, Inc. (NASDAQ: GRBK) (“Green Brick”) today announced the development of three new communities across the Atlanta area for over 450 homes to be exclusively built by The Providence Group, one of the Company’s subsidiary homebuilders. The communities will be in the cities of Alpharetta, Duluth, and Sugar Hill, Georgia.
“We are seeing record-demand for new homes across Atlanta,” said Jed Dolson, Chief Operating Officer and Executive Vice President of Green Brick Partners. “As demand for new construction continues to outpace supply, the number of homes for sale across the city remains at historically low levels. We look forward to bringing our signature low-maintenance lifestyle homes to area buyers though our subsidiary homebuilder, The Providence Group.”
The three new communities will bring the total to 20 actively selling communities in the Atlanta Metro area for The Providence Group and will consist of a mix of single-family and townhomes.
Two of the new developments featuring both single family and townhome plan designs will include Millcroft, a mixed use, gated, master planned community offering an amenity rich, low-maintenance lifestyle in Northwest Gwinnett and Evanshire, a gated, master planned, swim-community one mile east of downtown Duluth. A third community, Towns on Thompson, will offer three-story townhomes within walking distance of thriving Downtown Alpharetta.
“We are very excited to be expanding our portfolio of premier, one-of-a-kind neighborhoods in three of the area’s most sought after locations.” said Warren Jolly, President of the Providence Group. “Our long-standing relationships with local city governments, land brokers, and commercial partners continue to drive our success in the greater Atlanta market.”
The communities will all open for sale in 2022 and interested persons may learn more by joining the VIP interest list at https://theprovidencegroup.com/new-homes/. VIP registrants will be the first to receive ongoing development updates and initial homesite release information.
About Green Brick Partners
Green Brick Partners, Inc. (Nasdaq: GRBK) is a diversified homebuilding and land development company. Green Brick owns five subsidiary homebuilders in Dallas, Texas (CB JENI Homes, Normandy Homes, Southgate Homes, Trophy Signature Homes, and a 90% interest in Centre Living Homes), as well as a controlling interest in a homebuilder in Atlanta, Georgia (The Providence Group) and an 80% interest in a homebuilder in Port St. Lucie, Florida (GHO Homes). Green Brick also owns a noncontrolling interest in Challenger Homes in Colorado Springs, Colorado, and retains interests in related financial services platforms, including Green Brick Title, Green Brick Mortgage, and BHome Mortgage. The Company is engaged in all aspects of the homebuilding process, including land acquisition and development, entitlements, design, construction, marketing, and sales for its residential neighborhoods and master-planned communities. For more information about Green Brick Partners Inc.’s subsidiary homebuilders, please visit greenbrickpartners.com/homebuilders.
Forward-Looking and Cautionary Statements
Any statements in this press release about Green Brick’s expectations, beliefs, plans, objectives, prospects, financial condition, assumptions or future events or performance that are not historical facts are forward-looking statements. These statements are often, but not always, made through the use of words or phrases such as “may,” “will,” “should,” “predicts,” “potential,” “expects,” “future,” “positioned,” “believes,” “projects,” “estimates” and similar expressions, as well as statements in the future tense. These statements are based on assumptions that Green Brick has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances, as of the date of this press release. All such forward-looking statements involve estimates and assumptions that are subject to factors that could cause actual results to differ materially from the results expressed in the statements, and you should not place undue reliance on any such forward-looking statements. Among the factors that could cause actual results to differ materially are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; the failure to recruit, retain and develop highly skills and competent employees; management and integration of acquisitions; labor and raw material shortages; an inability to acquire land for reasonable prices; an inability to develop and sell communities; government regulation risks; mortgage financing availability and volatility; severe weather or natural disasters; difficulty in obtaining sufficient capital; poor relations with community residents; and our debt and related service obligations. Additional factors that could cause actual results to differ are discussed in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s annual and quarterly reports filed with the Securities and Exchange Commission. Green Brick undertakes no obligation to update any forward-looking statement except as required by law.
Green Brick Partners
The Providence Group
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