PLANO, Texas and SUWANEE, Ga., March 22, 2018 (GLOBE NEWSWIRE) -- Green Brick Partners, Inc. (NASDAQ:GRBK) (“Green Brick”) in conjunction with its Team Builder, The Providence Group, today announced it will be the first builder in the multi-phase development Harvest Park, a 208-home community in Suwanee, Georgia. The Providence Group is slated to construct 38 single-family homes and 61 townhomes for a total of 99 homes in the community.
“We are excited to have The Providence Group as one of the premiere builders in this development. We feel their attention to detail and craftsmanship matches our dedication to developing quality communities,” said Tim Gehan, President at JTG Holdings, LLC.
The community will be located on the west side of Main Street and will be connected to the existing 63-acre mixed-use development of Town Center via a pedestrian bridge. The close proximity to Town Center will grant residents of Harvest Park access to Town Center’s 10-acre urban-style park as well as its 100,000+ square feet of retail and 87,000+ square feet of office space. In addition to being in walking distance from the center of Suwanee, the Harvest Park community will include a swimming pool, cabanas, and multiple community parks onsite.
“The City of Suwanee is currently undergoing the next major phase of redevelopment in their Master Plan,” said Jeff Kingsfield, Chief Operating Officer of The Providence Group. “The initiatives are making way for a more pedestrian-friendly Suwanee, which we anticipate will be extremely attractive for young professionals and local move-down buyers.”
The Providence Group’s townhomes will be priced starting from the mid $300’s and single-family homes will be priced from the mid $400’s. Construction for the development is slated to begin December 2018, with model homes opening in March 2019.
About Green Brick Partners:
Green Brick Partners, Inc. (NASDAQ:GRBK) is a diversified homebuilding and land development company. Green Brick owns a controlling interest in four homebuilding companies in Dallas, Texas (CB JENI Homes DFW LLC, Normandy Homes (a division of CB JENI), Southgate Homes DFW LLC, and Centre Living Homes, LLC), as well as a homebuilder in Atlanta, Georgia (The Providence Group of Georgia, L.L.C.). Green Brick also owns a non-controlling interest in Challenger Homes in Colorado Springs, Colorado. The Company is engaged in all aspects of the homebuilding process, including land acquisition and the development, entitlements, design, construction, marketing and sales and the creation of brand images at its residential neighborhoods and master planned communities. For more information about Green Brick Partners, Inc.’s homebuilding partners go to https://greenbrickpartners.com/team-builders/.
Forward-Looking 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,” “could,” “would,” “predicts,” “potential,” “continue,” “expects,” “anticipates,” “future,” “outlook,” “strategy,” “positioned,” “intends,” “plans,” “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. Accordingly, all such forward-looking statements involve estimates and assumptions that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed in the statements. Among the factors that could cause actual results to differ materially from those projected in the forward-looking statements are the following: general economic conditions, seasonality, cyclicality and competition in the homebuilding industry; demand for real estate investments in the geographic markets in which we operate; our ability to successfully manage and integrate acquisitions; significant inflation or deflation; labor and raw material shortages; the failure to recruit, retain and develop highly skilled and competent employees; an inability to acquire land suitable for residential homebuilding at reasonable prices; an inability to develop and sell communities successfully or within expected timeframes; risks related to regulatory approvals and government regulation; the interpretation of or changes to tax, labor and environmental laws and regulations; volatility of mortgage interest rates; the unavailability of mortgage financing; the occurrence of severe weather or natural disasters; risks related to future growth through strategic investments, joint ventures, partnerships and/or acquisitions; the inability to obtain suitable bonding for the development of housing projects; difficulty in obtaining sufficient capital; the occurrence of a major health and safety incident; poor relations with the residents of our communities; information technology failures and data security breaches; product liability claims, litigation and warranty claims; our debt and related service obligations; required accounting changes; an inability to maintain effective internal control over financial reporting; and other risks and uncertainties inherent in our business. Additional factors that could cause actual results to differ from those anticipated 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. Because the factors referred to above could cause actual results or outcomes to differ materially from those expressed or implied in any forward-looking statements made by Green Brick, you should not place undue reliance on any such forward-looking statements. Further, any forward-looking statement speaks only as of the date of this press release, and Green Brick undertakes no obligation to update any forward-looking statement to reflect events or circumstances after such date.
CONTACT:
Shalott Cecchini
Green Brick Partners
scecchini@greenbrickpartners.com