Imtiaz Idris
Greensboro, NC (USA)
Role(s):
Founder/Owner/Principal
Providence Properties
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Startup
Location:
Greensboro
Industry:
Real Estate
Year Founded:
2005
Number Employees:
1-10 people
Description:
Providence Properties of the Triad, LLC (“PPT”) is offering investors the opportunity to participate in PPT’s unique townhouse development, Covent Gardens. Covent Gardens represents the manifestation of PPT’s value–oriented investment strategy whereby PPT leverages its relationships with developers and lenders in the Greater Greensboro/High Point, North Carolina area to acquire and develop residential properties at a substantial discount to their intrinsic value. PPT acquired Covent Gardens in partnership with the Bank of North Carolina and has proceeded to restructure and then develop the property with the characteristics that will create an attractive community with excellent value to both investors and homeowners. Covent Gardens is the largest and most valuable opportunity undertaken to date by PPT and will offer investors, through their investment in PPT, an opportunity to obtain premium returns in a challenging market.
Covent Gardens is located on the western edge of High Point, North Carolina with ready access to both Greensboro and High Point. Covent Gardens offers homeowners three European-inspired designs and floor plans that hearken to the namesake of the development. The community will marry the philosophy of easy maintenance with convenient access to parks, shopping, entertainment, the workplace while also giving residents easy access to three interstates and the Piedmont Triad International Airport.
PPT has engaged a select group of subcontractors and partners to ensure that Covent Gardens becomes an attractive community for a broad spectrum of potential residents that will appreciate the blend of value and convenience that Covent Gardens offers. With townhouses priced from $219,900 to $229,900, the community will be affordable yet will offer premium amenities because of the customized development strategy of PPT. This value proposition fits extremely well within the demographics of the greater Greensboro area and offers a compelling opportunity to several important categories of homebuyers in the area. Once all 82 lots are fully developed, Covent Gardens will be a premier example of the kind of residential development that PPT has built its strategy around: a unique community that provides both homeowners and investors with substantial value.