Box 5, Folder 11, Document 100

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Box 5, Folder 11, Document 100

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Ilv T0:'11 WALKEfl
.-\11anln j ou rnnl Hc:1 1 1-:5 1:tlo J,:clilor
Fm·nishcd mode.ls of a projc tcd S3 million, 200-unit, SouU1wc.sl J\ll:rnt, cooperative (own
hou.,c dc\·clopment " i ll be availabl fo r inspect.ion ns~t nonth ,
Phil Di::imoncl of Di::imoncl and
J,; 1 _·e Building Co. sai d.
Tl:~ London Towne Jiou,;es are
lth '. l ··d ;1t. Boulde r Park Dri\·c


111d Gordon Hoad . In add ition


lo the rcsidenli::i l units, the de\·clopmcnt wi ll include a pri\·atc club house.
'.The tO\m houses )Vill r ange
in price from $59" per month
fo r one-bedroom units to $105
per month for four bedrooms.
A cooperative development is
01rned by the residents , with
each member having a vole in
the corporation which owns the
property.
TIIE l\lOi\'THLY purch ase
price includes principle, interest, insurance, maintenance and
taxes . Total down payment on
~ondon ~owne Ho~se unit is
,·J.1.J , i\fr. Diamond said.
In the cooperatfre, a board
of rurectors made up of residents will establish the sta ndards and requirements fo r living
in the community.
Diamond and Kaye are metropolitan Atlanta's bigges t developers of cooperative apartments . They have constructed
some 700 uniLs.
The London Towne Houses
are being built wilh an FHA-insured loan. Ci tizens & Southern
Xational Bank is providing the
_construction financing.
A display and information office is located at the London
Tmrne Houses site at 3242
Cushman Circle SW. It is open
daily from noon until 8 p.m.
Mr. Diamond said the cooperative apartments which his
fi rm has developed have been
"enormously successful." They
are not only full, " he said, "but
there is a long waiting list for
each cooperative. We think cooperatives provide a fair and
hon,,.:;t approach to housing and
an enjoyable way of life."
Blonder Elected
Gerald A. Blonder has been
elec ted president of the Security
'4
i)
.'

r• r,
!
7 '.' fl
0
Dr\· lopmr nt and Invcstnwnt
Co. , ,1n At.l a11ta-bascd cons truction comp;rn y. Other o[ iccrs
are David Berkma n, ex ecutive l' ·
vice pres ide nt; Robe rt Towler,
vice prc:- id cnt, and Bruce R. ·
Davis , secretary.
Security Development owns
and bu i l cl s apartm ents in
mrl rupol it.an All anla , and currcnll y Jias under construction
5~0 apa rtm ent units. An add itiona l 500 uni ls are schedu le<l for
construction with in another two
months. A subsidiary, Security
Management · Co., is the managing agent for the apar tments
built by Security Development.
Building Purchased
Southeastern Films, one of
Atl anta's oldest film production
companies, has bought the 22
Seventh Street Building, where ·
iliefirm~llproduc e doc~
mcntary m o vie s, television
comm~rci als, slides, film strips,
rccordmgs and other materials.
The pur chase was handl ed. by
Ga I en Kilburn Jr. of the
Adams-Cates Co. of Atlanta .
.
,
I

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  1. http://allenarchive.iac.gatech.edu/originals/ahc_CAR_015_005_011_100.pdf

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