The long and twisted ordeal is over.
After eight years of protracted legal battles, the Integral Group and its partner companies have consummated their land deals with the Atlanta Housing Authority.
Atlanta Mayor Andre Dickens on Feb. 3, 2002 – during his first month as mayor – announced that the city, Atlanta Housing (under the leadership of then-CEO Eugene Jones) and Integral had reached an agreement to settle the legal disputes with Integral and its partners.
It took more than two years to consummate that agreement, which needed to be signed off by the U.S. Department of Housing & Urban Development. The lawsuits were over properties next to four projects developed by Integral and its partners – Urban Realty Partners and the H.J. Russell & Co.
“It was complicated,” said Egbert Perry, Integral’s founder and chairman, in an exclusive interview Wednesday afternoon. “We needed HUD approval. And there were lots of parcels.”
The four development projects involved are: College Town, Auburn Pointe, Capital Gateway and the Villages at Carver. (See property maps below).
The agreement was over the disposition of about 88 acres adjacent to those four developments developed as four separate partnerships. Integral and its partners will retain 54 of those acres while Atlanta Housing will hold title to 34 acres.
The partnerships also will pay $26 million to Atlanta Housing to compensate the authority for its 50-50 ownership in the 88 acres. The agreement calls for all parties to release each other from any future claims related to the sites and the contracts.
Vicki Lundy Wilbon, Integral’s president of real estate (who Perry said actually serves as the company’s CEO), said in a statement that she’s…
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