Box 5, Folder 11, Document 101

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Box 5, Folder 11, Document 101

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Del'clopmcnt and Investment
Co., an AUanla-b:iscd construction comp:iny. Olhcr oficcrs ,
are D:ivid Bcrknwn, c.xeculive
vice pres ident ; Robert Towler,
vice pre~iden t, and Bruce R. ·
DJvis, secretary.
Secui-it.y Development owns
mid bu i 1 d s apartments in
metropolil:m Atlanta, and currently h:is under construction
550 .1p:1rt.ment units. An mld ilion:il 500 uni t-; are scheduled for
conslructi0n within another two
'months. A subsidi ary, Security
Management Co., is the managing agent for the apartments
built by Security De'vclopmcnl.
l.lnilding Purchased
Southeastern Films, one of
Allanta's oldest film production
companies, has bought the 22
Seventh Street Bu ilding, where ·
the fi r m will p r o d u c e documentary mo vies, television
r.ommercials, slides, filmstrips,
recordings and other materials.
The purchase was handled. by
Ga 1en Kilburn Jr. of the
Adams-Cates Co. of Atlanta.
.\tb nl.1 .i ou rnn l Jir:il
F'{t :1( 0
Fu:·11:., !:cd mcxlcls of a pro-
>~:,,J. ~ million , '.:00-unit, Sou!11-
\H'.,t Allan 3 coopcr:iLi\·e (own
'10.1- .:! d.:-1·clop111rnt wi ll be :ll'ail.1,,'::- fl' · inspc2Lion n~~t JJlOnlh .
I' ··: l)i:uncmd of Di:imond and
K 1:- c Bu1.di11g Co. s:iid.
Th,• Lo:1do11 Towne llo11scs arr
I 1 .1,,' :it B0t1ldcr~ark Drive

 ? 1i Grnlon Hoad. In addition

to the residential units, the den .'!epmr : t will include a priYa k club house.
· The 10·, 11 houses ,,iJl r ange
in ;iricc from $59 per month
f,,r one-bedroom units to $105
rwr month for four bedrooms.
A cooperative development is
0-.111rd by the residents, with
<'Jl'h member ha1·ing a vote in
,>rporaLion which owns the
I ptilC'1·0;il'rty.
i\10 ;TllLY purchase
includes principle, inter, r.~t, insurance, maintenance and
1 t:ixes. Total down pay111ent on
1 :i,..London Towne Jlouse un it is
I ~J:Vi . .i\rr. Diamond said.
Jn the coopera tive, a board
of directors made up of resi1dents will establish the standards and requirements for living
· in the community.
. Di:imond and Kaye are met1ropol1 Atlanta's biggest deI 1·cloj1ers of cooperative apart1 mr nts . They ham constnicted
I rrice
IS0 lll~ 700 units.
The London Towne Houses
are being built with an F1IA-ins11red loan. CiUzens & Southern

'\alional flank is providing the

construction financing.
A d~~pl::Jy and information of-·
fice is locntcd at the London
To11 ne Houses site a t 3242
Cu. hman Circle SW. It is open
da ily from noon until 8 p.rn.
i\lr. Diamond sa id the coop- ,
era!ive apartments which his
finn has developed have been
"enormously successful." They
are not only full," he said, "but
there is a long wailing list for
each cooperative. We think co1 operatives provide a fair and
ho:1•.sl approach to housing and
1 an enjoyable way of life."
Hlondrr Elected
Gerald i\. Blonder has been
I::cc. I.(·~ presid: nt-~the Security

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