Empire Communities Expands U.S. Presence Through Strategic Partnership with Colorado Springs-Based Homebuilder Covington Homes
Vaughan, Ontario, Oct. 01, 2024 (GLOBE NEWSWIRE) — Empire Communities, one of North America’s largest privately held homebuilders, continues its U.S. expansion with the announcement of a strategic partnership with Colorado Springs-based builder Covington Homes. The partnership further diversifies and expands Empire’s presence in the U.S. to 8 markets, including Houston, Austin, San Antonio, Atlanta, Chattanooga, Charlotte, Greenville, and now Colorado Springs.
“Entering into the Colorado market marks a significant step forward in Empire’s growth strategy,” says Dan Guizzetti, co-CEO of Empire. “With this strategic partnership, we’re aligning with a well-established team that has a proven history of over 15 years as a successful operator in the Colorado Springs market.” Andrew Guizzetti, co-CEO, adds, “Covington Homes has built a strong reputation in the market as a customer-focused builder with values that are very much aligned to our own. This partnership will allow us to continue our growth in the U.S. and deliver the same quality homes and enhanced homebuying experience Empire is recognized for.”
Founded by Grace and Ron Covington, partners and long-time real estate professionals, Covington Homes currently owns and controls just under 2,000 lots across 12 communities and targets first-time and move-up buyers. Since its establishment, the company has gained a notable reputation, focusing on practical pricing, uncompromised quality, customer satisfaction, and community building.
“Joining forces with Empire is an exciting opportunity to grow the business with a partner that is both well capitalized and that shares our values,” say Grace and Ron Covington, co-CEOs of Covington Homes. “Leveraging Empire’s platform and cross-border expertise across all types of residential forms will provide significant capacity for us to continue elevating our own offering and meet the diverse needs of the market.”
Plans are in place to transition to the Empire brand in 2025 with Grace and Ron Covington continuing to oversee all operations in the Colorado market.
EMPIRE COMMUNITIES
Empire Communities (www.empirecommunities.com) is a fully vertically-integrated homebuilder involved in all aspects of the homebuilding and sales process. Celebrating over 30 years as one of North America’s largest privately held homebuilders, Empire builds and develops in over 100 intown and suburban communities across Toronto, Southwestern Ontario, Texas, Georgia, Tennessee, North Carolina, and South Carolina, targeting primarily entry-level and move-up buyers with attainable product offerings. Since its inception in 1993, Empire has built over 35,000 new homes and condos, representing close to $15B in housing sales. Empire currently has a strategic land position representing more than 25,000 potential future homesites in the planning, development and/or construction phase.
CONTACT: Ashley MacLaren | Vice President, Brand Marketing & Communication Empire Communities +1-905-307-8102, 1200 amaclaren@empirecommunities.com Rami Jurdi | Chief Financial Officer Empire Communities +1-905-307-8102, 1265 rjurdi@empirecommunities.com
