Market Place: A New Master-planned Residential Neighborhood by The Providence Group to Begin Development in Cumming, GA

Rhea-AI Summary

The Providence Group, a subsidiary of Green Brick Partners, Inc. (NYSE: GRBK), has announced the acquisition of a 93.4-acre tract in Cumming, GA for a new master-planned residential neighborhood called Market Place. This gated community will feature:

• 444 homesites with prices ranging from mid $500's to high $800's
• 244 traditional single-family homes with alley and front entry designs
• 200 three-story, alley entry townhomes
• Amenities including a clubhouse, pool, pickleball courts, and extensive open greenspace
• Yard maintenance provided by the HOA

Located near Georgia 400 and Cumming City Center, the community offers proximity to dining, shopping, recreational activities, and Northside Hospital. This marks The Providence Group's third venture in the fast-growing Cumming market.

CUMMING, Ga.--(BUSINESS WIRE)-- The Providence Group, a subsidiary of Green Brick Partners, Inc. (NYSE: GRBK), and a highly respected top ten builder in Atlanta, announced today the acquisition of a 93.4 acre tract in Cumming, which is within minutes of Georgia 400 and Cumming City Center. This community will be the third venture by The Providence Group in this fast-growing, highly sought-after market.

The gated community will include a blend of home designs across 444 homesites at prices expected to range from the mid $500’s to the high $800’s. The Providence Group will feature traditional single family homes offering both alley entry and front entry designs on 244 homesites. Additionally, the community will include 200 three-story, alley entry townhomes.

Consistent with The Providence Group’s decades long history and mission, the neighborhood will offer an elevated lifestyle with amenities such as a clubhouse, pool, pickleball courts and extensive open greenspace. Yard maintenance will also be included as one of the amenities offered by the HOA. The neighborhood’s prime location further offers close proximity to local dining, shopping and recreational activities. Northside Hospital is also conveniently located one exit away on Georgia 400.

“We are excited to begin development of this amazing new community in Cumming,” said Warren Jolly, President of The Providence Group. “It will be our third community in this growing market area, and we couldn’t be more thrilled with the location and the opportunity.”

About The Providence Group

Celebrating a legacy of over 20 years of success in the homebuilding industry, The Providence Group continues to develop and build award-winning communities fulfilling its mission to provide Lifestyle, Location and Luxury to its growing family of homeowners. Throughout its long history, the company has built well-crafted homes in on-of-a-kind communities in the most sought-after locations in and around Atlanta, offering an unsurpassed, low-maintenance lifestyle for residents and enhancing the value of surrounding neighborhoods. Each location is intentionally selected for accessibility and proximity to the best school districts, entertainment, shopping and dining options, and every neighborhood is outfitted with amenities tailored for the lifestyle of the area. In 2011, The Providence Group entered a financial partnership with JBGL Builder Finance which subsequently became Green Brick Partners, Inc., a diversified homebuilding and land development company listed on the New York Stock Exchange under the ticker symbol “GRBK”. With Green Brick’s financial and operational support, The Providence Group has been able to combine its local expertise with the financial liquidity of a national, public homebuilder. Visit theprovidencegroup.com to learn more.

About Green Brick Partners, Inc.

Green Brick Partners, Inc (NYSE: GRBK), the third largest homebuilder in Dallas/Fort Worth, is a diversified homebuilding and land development company that operates in Texas, Georgia, and Florida. Green Brick owns five subsidiary homebuilders in 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 retains interests in related financial services platforms, including Green Brick Title 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 https://greenbrickpartners.com/brands-services/

View source version on businesswire.com: https://www.businesswire.com/news/home/20240805551594/en/

The Providence Group Contact:

Dusty Talbert

Director of Marketing

(478) 747-1210

dtalbert@theprovidencegroup.com

Green Brick Partners Contact:

Benting Hu

Vice President of Finance

(469) 573-6755

IR@greenbrickpartners.com

Source: Green Brick Partners, Inc.

FAQ

What is the name of The Providence Group's new residential community in Cumming, GA?

The Providence Group's new residential community in Cumming, GA is called Market Place.

How many homesites will be available in the Market Place community by The Providence Group (GRBK)?

The Market Place community by The Providence Group will feature 444 homesites.

What is the price range for homes in the Market Place community in Cumming, GA?

The expected price range for homes in the Market Place community is from the mid $500's to the high $800's.

What types of homes will be offered in The Providence Group's Market Place community?

The Market Place community will offer 244 traditional single-family homes with alley and front entry designs, and 200 three-story, alley entry townhomes.

What amenities will be available in the Market Place community by The Providence Group (GRBK)?

The Market Place community will offer amenities such as a clubhouse, pool, pickleball courts, extensive open greenspace, and yard maintenance provided by the HOA.