Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The developer of Eon at Lindbergh condominiums is hoping to negotiate a loan restructuring with its lenders prior to a planned foreclosure auction July 7 at the Fulton County Courthouse. The Harold A. Dawson Co., which has been working on the overall Lindbergh City Center project for the past decade, says its offer to put more money into the development was rejected.

The 352-unit Eon segment, which occupies 3.5 acres of the total 47-acre mixed-use project between Midtown and Buckhead, is tied to MARTA’s Lindbergh Station. Construction on the five-story, $70-million condo project began nearly three years ago.

“Success in the real estate market is largely based on timing. Unfortunately, our timing with the Eon development in partnership with MARTA was not perfect,” Harold Dawson Jr., the company’s president and CEO, tells GlobeSt.com.

The project’s lenders, JP Morgan Chase and Regions Bank, claim in their foreclosure notice that Dawson Co. defaulted on a $56.3-million loan. Efforts to reach appropriate contacts with both banks were unsuccessful Monday.

Dawson says Lindbergh City Center is a “shining example” of what can be achieved through public/private partnerships, adding that Eon is geared toward carbon-footprint reduction by way of its construction as well as encouraging local residents to drive less and ride MARTA trains more.

“Eon is much larger than a condo loan. It is part of a larger neighborhood vision coming to fruition,” Dawson says. “Despite this experience, we remain committed to the redevelopment of urban infill communities in Atlanta and beyond.”

Locally based Dawson Co. is partnering with Carter Real Estate, also based in Atlanta, on an 18-acre mixed-use project in Cincinnati called The Banks. Dawson says both his company and Carter are hopeful that they can move forward with remaining development at Lindbergh City Center when the market improves.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.