Seasons on Lake Lanier has a new owner and residents have one thing to say — they’re happy.
“They are coming in and their first priority is to clean the place up,” said John Snyder, a resident and former president of the community’s homeowner’s association. “We (residents) have been taking care of our properties and the common areas, but a lot of the bank-owned properties were left unattended.
“I’ve personally done a lot of research about the company and ... we’re all very excited about the new owners.”
The community on Browns Bridge Road was purchased by The Kolter Group LLC, a private investment group based in West Palm Beach, Fla. The company purchased the community from Wachovia for an undisclosed sum.
Levitt & Sons, the community’s developer, filed for Chapter 11 bankruptcy in 2007. In addition to leaving some homes partially constructed, the financially troubled developer also left sidewalks unfinished and hadn’t started work on promised amenities.
“We’ve been here almost two and a half years, ever since (Levitt & Sons) filed for bankruptcy,” Snyder said. “The residents all pulled together to make this a viable community. We went almost a year doing things on our own, without any outside financial help.
“We completed a lot of projects that weren’t done — like completing sidewalks and putting in parks. About a year and half ago, the bankruptcy court and Wachovia gave us money to improve the community.”
Kolter’s purchase includes 14 furnished model homes, 45 complete or partially completed homes, 169 developed lots, 147 partially developed lots, 290 empty lots and 30 boat slips.
“Our first step will be to finish the homes that are under construction and to sell them. Then we will begin planning an activity center and all the other amenities on site,” Kolter Vice President Bob Rademacher said. “The residents have done a terrific job of caring for the property prior to our purchase. We will be working to bring it back to life completely and fixing up the entire property.”
According to Rademacher, the company has filed paperwork for the necessary permits and plans to “move forward as quickly as possible” with the project.