When a Project Lender Goes Under, A Developer Decides to Go Green

In Atlanta, plans called for a five-building development in the suburb of Dunwoody. With only three buildings completely built, the Providence Group decided to turn the undeveloped land into a park.

With three buildings completed, the fourth building at 80% complete, and the fifth building just started, problem struck the development when the project lender went under. Warren Jolly, the owner and president of The Providence Group, the projects developer, decided to build a park in place of the other building.

According to reporter John Caulfield, Providence had already invested $3.8 million into the fifth building and parking deck, and Jolly estimates that it would have cost another $4 million to complete. Jolly believes that developing a park in place of the old building is a smart decision because "many of the existing condos don't have greenspaces." The park, according to the Providence Group, includes a dog park, raised vegetable plots, a natural seating area overlooking an outdoor amphitheater, an outdoor kitchen with grill and counter space, and a lighted dining patio with seating.

Full Story: When Open Space Makes More Sense Than Construction

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25

Prepare for the AICP* Exam

Join the thousands of students who have utilized the Planetizen AICP* Exam Preparation Class to prepare for the American Planning Association's AICP* exam.
Starting at $245
AICP CTP Storefont Display

The first online AICP* CTP exam prep class

Are you ready to take the AICP* Certified Transportation Planner exam?
Priced at $245 for May exam!
Planetizen Courses image ad

Planetizen Courses

Advance your career with subscription-based online courses tailored to the urban planning professional.
Starting at $16.95 a month