America's Newest Land Baron: FDIC
ATLANTA -- In the waning days of the Great Recession, the federal government is still jumpstarting the economy and propping up financial markets. It is also trying to sell Dresden Heights, a failed condo development on a noisy freeway ramp next to a Motel 6, a Waffle House and a Do-It-Yourself Pest Control. For more than a year, the Federal Deposit Insurance Corp. has been seeking a buyer for 36 partially built condos it inherited from a high-flying, short-lived Atlanta bank. The agency has been fending off vandals, haggling with architects and uncovering the developer's blunders, all in a bid...
Original Article: Forum: News/Activism
Tags: Architects, Blunders, Condos, Developer, Dresden, Economy, Fdic, Federal Deposit Insurance, Federal Deposit Insurance Corp, Federal Government, Financial Markets, Freeway Ramp, Insurance, Land Baron, Motel 6, Pest Control, Recession, Vandals, Waffle House, X27