Box 5, Folder 11, Document 89

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Box 5, Folder 11, Document 89

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February 7, 1968
The Travelers, Hartford, Conn., through its mortgage loan office in Atlanta,
io currently making ~0rtgage loans on single family homes in the Thomasville
Urban Renewal Project in Atlanta.
date, these loans total nearly a half million dollars.
It is expected that
the company's total investment on this first phase of its commitment in Atlanta
will reach $1 million, an amount which could eventually double.
This urban development mortgage loan participation in Atlanta is one of the
commitments which have oeen made to date by The Travelers as its part in the
$1 billion mortgage loan program announced last year by the life insurance
This program is designed to provide financing for developers and
others working in blighted core city areas of _l _a rge urban centers throughout
the United States.
The homes in Thomasville, most in the $12,000 range, are being constructed by
the Knox Home Corp. of Thomeon, Ga., and the Fulton County Division of the
National Homes Construction Co.
They are both wholly owned suboidiarion of
National Homes Corp. of Lafayette, Ind., one of several developers currently
active in this 227-acre central city project.
The Travelers thus far has made F.H.A. insured loans on nearly 40 homes, and
expects to provide loans on a total of about 70 homes in this first phase.
arrangements satisfactory to F.H.A., National Homes and The Travelers can be
wor ked out, f inancing for an· additional. 70 homes is possible.
..2 ..
During official announcement ceremony at the Thomasville project site at ll a.m.,
Wednesday, February 1, 1968, George W. Kennedy, Jr., chairman of the Housing
and Development ~mmittee of the Atlanta Chamber of Commerce, will introduce
James A. Stewart, vice president, mortgage loan department, The Travelers.
Hr. Stewart will announce The Travelers participation in the Thomasville Urban
Renewal Project, and will in turn introduce Mr. James R. Price, chairman of the
board of National Homes
Mr. Price will speak briefly about his corpora-
tion's role in the total project.
Mr. Kennedy will then introduce Mayor Ivan Allen, Jr., who on behalf of the City
of Atlanta, will respond to both The Travelers and National Homes.
Other person invited to attend the formal announcement ceremony include:
John A. Thigpen, State Director, Federal Housing Authority
M. B. Satterfield, Executive Director, Atlanta Housing Authority
Howard Openshaw, Director of Development, Atlanta Housing Authority
Robert S. Sormnerville, Chairman, Citizens Advisory Committee for Urban Renewal
William S. Howland, Executive Director, Citizens Advisory Committee for
Urban Renewal
Albert J. Bows, Jr., president, Atlanta Chamber of Commerce
Curtis H. Driskell, Metropolitan Affairs Director, Atlanta Chamber of Commerce
Dan E. Sweat, Jr., Director of Governmental. Liaison, Office of Mayor Allen
Malcolm D. Jones, Housing Coordinator, Office of Mayor Allen
Cecil A. Alexander, Member of Finch, Alexander, Barnes, Rothchild and Paschal
architectural firm
Frank P. Flynn, President, National. Homes Acceptance Corp.
Joe Elliott, National Homes Construction Corp.
Denver Gray, Manager, Mortgage Loan Department, Atlanta Office, The Travelers,
and Member, Housing and Development ColTill:i.ttee of the Atlanta Chamber
of Commerce.

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