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Business

Eon at Lindbergh safe from auction for now

July 6, 2009

Eon at Lindbergh has been pulled from the public auction being held Tuesday on the steps of the Fulton County Courthouse.

But the condo development, one half of the residential portion of MARTA's transit-oriented development at the Lindbergh station, is not out of trouble. A second notice of foreclosure is set for publication in time for the August auction, said Richard Stephens, an attorney representing Regions Bank, one of the lenders.

Calls to Harold A. Dawson Co., the project's developer, were not returned.

The original foreclosure notice, published in June, said the development company has defaulted on a $56.3 million loan. Dawson has spent the past month trying to work out a deal with Regions, and a second lender on the project, J.P. Morgan Chase Co., to keep the completed five-story, 352-unit building, which sits on 3.5 acres, off the auction block.

— MICHELLE E. SHAW

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