ATLANTA, July 1, 2024 /PRNewswire/ — The Promise Homes Company founder John Hope Bryant today announced he is transitioning as chairman of the organization, remaining as a shareholder and supporter. Mr. Bryant founded The Promise Homes Company in June 2017 and grew it to become the largest minority-controlled owner of affordable, single-family rental homes in America, pioneering social impact strategies and community reinvestment financing — within the institutional SFR rental sector. He also introduced an innovative rent-to-own model for the company and industry.

After five years of solid growth and being heralded by many as a model for the industry, Bryant sold the company in December 2021 to a new principal owner while continuing in a non-executive role as chairman and a shareholder in the new company, providing help and guidance where useful. Most recently he helped recruit a CEO for the company, Mr. John Ehle, who Bryant strongly endorses and supports. 

Since its founding, the company has grown to more than $150 million in assets across a portfolio of just under 700 homes and implemented strong proprietary resident engagement, financial empowerment, and minority vendor programs that are becoming industry standard. Bryant believes this is the appropriate time to transition from his role as chairman, and has full confidence in the new CEO as The Promise Homes Company’s principal leader.

“I was proud to have been in a non-executive but supportive role until the company found its new CEO, and now that benchmark has been achieved. And he has my confidence and my support,” stated Mr. Bryant. “I hope the company will continue to scale and honor the legacy of minority and women owner vendor support, and empowering programs for residents.” Bryant continued, “I look forward to supporting them as a shareholder, in hopes they continue to recognize the value statement and purpose-driven mission that I built the company on starting in 2017.”

Mr. Bryant will avail himself to company leadership as needed and in his capacity as a substantial shareholder. He continues to believe in the mission of The Promise Homes Company and believes the leadership team at the company is strongly positioned to continue to build on its success. Operation HOPE, also founded by Bryant, continues to support the residents of The Promises Homes Company for financial coaching and counseling, and The Promise Homes Company continues as a member and partner in good standing of Operation HOPE.

Media Contact:
Lalohni Campbell
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SOURCE Bryant Group Ventures