Green Brick Partners Announces New Community in Suwanee, Georgia
March 22 2018 - 11:00AM
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 StatementsAny
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
Green Brick Partners (NASDAQ:GRBK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Green Brick Partners (NASDAQ:GRBK)
Historical Stock Chart
From Apr 2023 to Apr 2024