Southeast Kentucky Chamber Welcomes Thracian Property Group LLC As A New Member
April 02, 2024
PIKEVILLE, KY (April 2, 2024) – The Southeast Kentucky Chamber is excited to welcome Thracian Property Group LLC as a new member. The organization joined the Chamber on March 10, 2024.
Founded in 2014 by Owner Romain Picard, an investor from Versailles, France, Thracian Property Group LLC is a holding company investing in, rehabilitating, and leasing commercial, retail, postal, affordable, and well maintained residential and multifamily properties through 10 subsidiaries in Kentucky, Virginia, Texas, Florida, Mississippi, New Mexico, Wyoming, Alaska, North Dakota.
The organization’s now seeks to diversify its business by offering reasonably priced but safe and comfortable housing accommodation where it is badly needed. Over 20% of office space is vacant while 16-year high mortgage rates have caused a housing shortage of 3.4 million homes. Unfortunately, most of this unutilized space cannot be repurposed to house people for two main reasons: 1. Strict zoning ordinances 2. The cost of repurposing from Office to Residential (in particular, the cost of plumbing). For example, it is estimated that only 1/8th of available office space could be repurposed at a cost that would make sense for both investors and tenants. Thracian Property Group LLC seeks to find this 1/8th and transform useless office space into much needed affordable housing in prime locations and areas of growth and employment.
Thracian Property Group LLC’s niche markets are primarily low-income areas, where the company seeks to offer reasonably priced, safe, and comfortable housing and commercial space that meets code requirements and still allows them to be profitable. In Floyd County, it purchased and invested substantial amounts of money in repairing a post office building which it currently leases to USPS.
“We are delighted to welcome Thracian Property Group LLC to the Chamber,” said President & CEO, Jordan Gibson. “Their commitment to investing in the region, particularly in affordable housing, is commendable and much needed. We look forward to partnering with them as we strive to build a stronger and more inclusive community together."
For more information on Thracian Property Group LLC, you can send an email to: contact@thracianpropertygroup.com.
The Southeast Kentucky Chamber of Commerce is located at 178 College Street in Pikeville and serves more than 500 businesses in eight Eastern Kentucky Counties: Floyd, Johnson, Knott, Lawrence, Letcher, Magoffin, Martin, and Pike. The Chamber’s mission is to serve the businesses of Southeastern Kentucky through a commitment to networking, advocacy, education, and collaboration as we partner together to enhance the business climate in our region.
Founded in 2014 by Owner Romain Picard, an investor from Versailles, France, Thracian Property Group LLC is a holding company investing in, rehabilitating, and leasing commercial, retail, postal, affordable, and well maintained residential and multifamily properties through 10 subsidiaries in Kentucky, Virginia, Texas, Florida, Mississippi, New Mexico, Wyoming, Alaska, North Dakota.
The organization’s now seeks to diversify its business by offering reasonably priced but safe and comfortable housing accommodation where it is badly needed. Over 20% of office space is vacant while 16-year high mortgage rates have caused a housing shortage of 3.4 million homes. Unfortunately, most of this unutilized space cannot be repurposed to house people for two main reasons: 1. Strict zoning ordinances 2. The cost of repurposing from Office to Residential (in particular, the cost of plumbing). For example, it is estimated that only 1/8th of available office space could be repurposed at a cost that would make sense for both investors and tenants. Thracian Property Group LLC seeks to find this 1/8th and transform useless office space into much needed affordable housing in prime locations and areas of growth and employment.
Thracian Property Group LLC’s niche markets are primarily low-income areas, where the company seeks to offer reasonably priced, safe, and comfortable housing and commercial space that meets code requirements and still allows them to be profitable. In Floyd County, it purchased and invested substantial amounts of money in repairing a post office building which it currently leases to USPS.
“We are delighted to welcome Thracian Property Group LLC to the Chamber,” said President & CEO, Jordan Gibson. “Their commitment to investing in the region, particularly in affordable housing, is commendable and much needed. We look forward to partnering with them as we strive to build a stronger and more inclusive community together."
For more information on Thracian Property Group LLC, you can send an email to: contact@thracianpropertygroup.com.
The Southeast Kentucky Chamber of Commerce is located at 178 College Street in Pikeville and serves more than 500 businesses in eight Eastern Kentucky Counties: Floyd, Johnson, Knott, Lawrence, Letcher, Magoffin, Martin, and Pike. The Chamber’s mission is to serve the businesses of Southeastern Kentucky through a commitment to networking, advocacy, education, and collaboration as we partner together to enhance the business climate in our region.
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Contact:
Romain Picard, Manager, Owner
contact@thracianpropertygroup.com, (954) 681-5898
