Box 18, Folder 27, Document 35

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Summary t


Housing in Atlanta

Feb, 20, 1967

The Foundation for Cooperative Housing, which developed Eastwych Village and is currently developing Cambridge Square (both in DeKalb »
County), now has a full time representative in Atlanta and is sceking clients.

No proposal has yet been made for construction of units (even 1 bedrcom) to rent for as low-as $50.00 per month. The City's greatest
need is in the $30.00 - $50.00 per month rental range. Charles A. Mueller Companies of Jonesboro is promoting the Sweat Equity Program
(FHA insured mortgage) whereby the purchaser earns the bulk of his down payment through cleaning, painting and landscaping. National
lomes Corp. of Lafayette, Ind. placed on the market Feb. 1, 1967, a 800 S.F. (0.S. dimensions) 3 bedroom, prefabricated, preassembled
panel, single family house to retail (under FHA 221 d (2) ) for about $8,800.00 (exclusive of land), plus a 96 S.F. (1I.S. dimensions)
storage building manufactured by Arrow Metal Products Corp. Price includes plumbing, electrical, heating unit, stove & refrigerator,
House can be completely assembled in 85 man hours.
(1) First Mortgage Advisary Corporation is interested in providing package Financing to developers, especially construction loans; claims
that there are no legal or standby fees or hidden charges and no deposit required,
(2) John Hood & Co., Inc., One Wall St., New York, is interested in financing FHA project loans and also construction financing on
FHA 221 d (3), below market rate, construction loans.

Rehabilitation by Housing Code Division of Building Department on Boulevard in Bedford-Pine U.R. Project (approximately 700 units involved)
commenced February 1. The U.R. project is still in survey and planning stage.

Small developers should provide a substantial portion of the program on small scattered sites.

Since October, 1966, 1529 units have been rehabilitated by the Housing Code Div; and 80 units in West End U.R. Project by the Housing
Authority. (Items 40 and 41).

Roy D. Warren Co. is willing to undertake construction of 1000 units (prefers single family sales housing), but wants City backing on
land lecation and zoning which may be required.

Embry Realty Co. in Chamblee is seeking land and non-profit sponsors for 221 d (3). Claims to have a full service organization including
Real Estate, Architectural, Financing, Legal and Building knowledge and experience to meet all FHA requirements.

Information is welcomed as to changes, additions or deletions in material contained in this report. (Call 522-4463, Ext. 430).

Estimate Available

No, Units L967 1968 Both Years
Reasonably Firm 3372 Cinel. 1140 PH + 7OOTK) TIS (inel, 1054 New # LU4 PHL) D3To » 35165
Probable 4237 (Incl. 325 TK) - 2567(Inc1].375 TK) 2567
Being Considered 2489 124 248 372
Doubtful 1392 7 oe ——
Total 11490 Units Proposed 1322 $133 b4SS
(Incl.1140 new units of P.H.) -3578 +233 “3345 + or - ay >
Summary of PABLES + 144 units leased for P.H. 4900 49500 “9800 Goals OOF leroy as, = he -
+ 1654 existing units rehabilitated. ; Malcolm D. Jones
+ 1424 existing units proposed for rehabilitation. Supervisor of Inspection


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