Promise Homes Announces New Money-Saving LED Light Bulb Program for Residents

February, 2020

Promise Homes Announces New Money-Saving LED Light Bulb Program for Residents

Free Energy-Efficient Light Bulbs and Installation Made Possible Through Donation by LED Pioneer Fred Maxik and Lighting Science Group

ATLANTA, Ga.—January 16, 2020—The Promise Homes Company, an owner/operator of single-family rental (SFR) properties focused on affordable housing for low-income and working families, announced today that it has launched a new money-saving benefit for its residents whereby the company is offering free LED light bulbs and free installation in all of its Atlanta-area homes. The new energy-efficient light bulbs can reduce annual energy costs by up to 15% on average for Promise Homes residents.  This benefit is being offered thanks to a generous donation of LED light bulbs by Fred Maxik, Founder and Chief Technology Officer of Lighting Science Group Corporation, a global leader in innovative LED lighting solutions and Lighting Science Group Corporation.

“Promise Homes knows that every penny counts to our residents, and we are committed to partnering with industry leaders who share our philosophy of building stronger and more resilient communities,” said John Hope Bryant, Founder, Chairman, & CEO of The Promise Homes Company.  “We would like to thank Fred and Lighting Science Group for this donation, which will deliver meaningful savings to our residents.”

LED light bulbs can last up to five times longer than any comparable light bulb and reduce lifetime operational costs by nearly 80%, resulting in fewer trips to the hardware store and additional long-term savings.  Based on estimates provided by Lighting Science Group and the latest U.S. Energy Administration (EIA) of power usage in Georgia, Promise Homes anticipates that each home that elects to participate and have these light bulbs installed in their homes will realize a savings of approximately $200 based on the average size home in its Atlanta-area portfolio.

“Providing incremental economic support to working families that may use the energy savings to pay for everyday needs such as back-to-school supplies, school meals or contribute to their family savings, is an exciting real-life demonstration of our innovative lighting technology,” said Fred Maxik.

Promise Homes residents have recently received information on this offering and can contact Demetrius Myatt, Resident Engagement Manager, by phone at 404-885-6678 or 251-234-9530 or by email at, to schedule their free LED light bulb installation.

Promise Homes’ mission is to offer affordable housing to families that choose to live in a single-family home.  As part of the company’s innovative business model, Promise Homes residents have access to free financial literacy and economic support services through Promise Homes’ contract with Operation HOPE—the leading non-profit, global provider of financial dignity education and economic empowerment programs. Promise Homes and its property management providers place a priority on contracting with local, minority- or women-owned small businesses to provide property maintenance services for its homes, thereby supporting local job creation. Tenants are also provided incentives for improving their credit scores.

About Lighting Science Group Corporation

Lighting Science is a global leader in the research and development of advanced, innovative engineered spectrums for biological, horticultural and consumer LED lighting solutions.  The company designs, develops, manufactures and markets LED lighting solutions. The company offers retrofit LED lamps in form factors matching those of traditional lamps or bulbs, and LED luminaires for a range of applications including public and private infrastructure for both indoor and outdoor applications.

About Promise Homes

Launched in May 2017, the Promise Homes Company is one of the largest minority-controlled owners of institutional-quality, single-family residential rental property in the United States, with a focus on working class and middle-class communities. Promise Homes offers its residents quality housing at affordable prices as well as financial empowerment and assistance that would position them financially to eventually own a home. Promise Homes also contracts with local, minority-owned businesses for property maintenance services, thereby creating local, sustainable jobs in the communities where it invests. Promise Homes is led by Chief Executive Officer John Hope Bryant, an entrepreneur, author, philanthropist, and prominent thought leader on financial inclusion, economic empowerment and financial dignity. For more information, please visit

For Promise Homes
Bill Mendel
212 397-1030