Box 5, Folder 11, Document 101

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Box 5, Folder 11, Document 101

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REALTY ROUNDUP 20 O00 m4,



a et 2)

New Town > 1ouses
Are Ready to Open

By TOM WALKER
Atlanta Journal Keal Estato Fdilor
Furnished models of a pro-
fogiod $3 million, 200-unit, South-
Atlanta cooperative town
hase development will be avail-
able for inspection next month,
Pail Diamond of Diamond and
Kave Building Co. said.

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

The town houses sill 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, wilh
leach member having a vote in
i the corporation which owns the
| property.



| THE MONTHLY purchase
| price includes principle, inter-
est, insurance, maintenance and
faxes. Total down payment on
j2, ‘London ‘Towne House unit is
| ‘$135, Mr. Diamond said.

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

Diamond and Kaye are met-
jropolitan Atlanta's biggest de-
|velopers of cooperative apart-
iments. They have constructed
| some 700 units.

The London Towne Houses
are being built with an I'HA-in-
sured Joan. Citizens & Southern
National Bank is providing the
construction financing.

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 suecessful.”’ They
are not only full,” he said, “but
there is a long waiting list for
each cooperative. We think 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



‘The purchase was handled. by

A display and information of-



Development and Investment”

Co., an Atlanta-based construc-
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
oo0 apartment units, An addi-
tional 500 units are scheduled for
construction within another two
months. A subsidiary, Securily

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

Building Purchased

Southeastern Films, one of
Allania’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.

Galen Kilburn Jr. of the



Adams-Cates Co. of Atlanta.

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