Box 5, Folder 11, Document 100

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Van 7 Lg

New Town rlouses

Are Ready to Open


Atlanta Journal Real Estate Vdilor

Furnished models of a pro-
jected $3 million, 200-unit, South-
west Atlanta cooperative town
house development will be ayail-
able for inspection next month,
Phil Diamond of Diamond and
Kaye Building Co. said.

The Tendon Towne Tlouses are
located at Boulder Park Drive
and Gordon Road. In addition
to the residential units, the de-
velopment will include a pri-
vate club house.

The town houses Swill range
in price from $59" per month
for one-bedroom units to $105/
per month for four bedrooms.
A cooperative development is
owned by the residents, with
each member having a vote in
the corporation which owns the


THE MONTHLY _ purchase
price includes principle, inter-
est, insurance, maintenance and
taxes. Total down payment on
a_London Towne House unit is
$155, Mr. Diamond said.

In the cooperative, a board
of directors made up of resi-
dents will establish the stand-
ards and requirements for living
in the community.

Diamond and Kaye are met-
ropolitan Atlanta's biggest de-
velopers of cooperative apart-
ments. They have constructed
some 700 unils.

The London Towne Houses
are being built with an FHA-in-
sured loan. Citizens & Southern
National Bank is providing the
consiruction financing.

A display and information of-
fice is located at the London
Towne Houses site at 3242
Cushman Circle SW. It is open

daily from noon until 8 p.m.

Mr. Diamond said the coop-
eralive apartments which his
firm has developed have been
“enormously successful.” They
are not only full,” he said, “but
there is a long waiting list for
each cooperative. We ihink co-
operatives provide a fair and
honest approach to housing and
an enjoyable way of life.”

Blonder Elected

Gerald A. Blonder has been

elected president of the Security

Development and Investment’

Co., an Atlanta-based construec-
tion company. Other oficers
are David Berkman, executive
vice president; Robert Towler,
vice president, and Bruce R.
Davis, secretary.

Security Development owns
and builds apartments in
metropolitan Atlanta, and cur-
rently has under construction
550 apartment units. An addi-
tional 500 units are scheduled for
construction within another two

‘months. A subsidiary, Security

Management Co., is the man-
aging agent for the apartments
built by Security Development.

Building Purchased
Southeastern Films, one of
Atlanta’s oldest film production
companies, has bought the 22

Seventh Street Building, where}

the firm will produce docu-
mentary movies, television
commercials, slides, filmstrips,
recordings and other materials.
‘The purchase was handled. by
Galen Kilburn Jr. of the
Adams-Cates Co. of Atlanta.

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