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.

1 minute read

October 14, 2011, 8:00 AM PDT

By David Zeetser


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.

Thursday, October 13, 2011 in Builder

Sweeping view of Portland, Oregon with Mt. Hood in background against sunset sky.

Oregon Passes Exemption to Urban Growth Boundary

Cities have a one-time chance to acquire new land for development in a bid to increase housing supply and affordability.

March 12, 2024 - Housing Wire

Aerial view of green roofs with plants in Sydney, Australia.

Where Urban Design Is Headed in 2024

A forecast of likely trends in urban design and architecture.

March 10, 2024 - Daily Journal of Commerce

Cobblestone street with streetcar line, row of vintage streetlights on left, and colorful restaurant and shop awnings on right on River Street in Savannah, Georgia.

Savannah: A City of Planning Contrasts

From a human-scales, plaza-anchored grid to suburban sprawl, the oldest planned city in the United States has seen wildly different development patterns.

March 12, 2024 - Strong Towns

Aerial View of Chuckanut Drive and the Blanchard Bridge in the Skagit Valley.

Washington Tribes Receive Resilience Funding

The 28 grants support projects including relocation efforts as coastal communities face the growing impacts of climate change.

March 18 - The Seattle Times

Historic buildings in downtown Los Angeles with large "Pan American Lofts" sign on side of building.

Adaptive Reuse Bills Introduced in California Assembly

The legislation would expand eligibility for economic incentives and let cities loosen regulations to allow for more building conversions.

March 18 - Beverly Press

View from above of swan-shaped paddleboats with lights on around artesian fountain in Echo Park Lake with downtown Los Angeles skylien in background at twilight.

LA's Top Parks, Ranked

TimeOut just released its list of the top 26 parks in the L.A. area, which is home to some of the best green spaces around.

March 18 - TimeOut

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.