A developer has secured financing for nearly 400 single-family homes and townhouses in a city outside Atlanta with a connection to the film and television industries.
Edison Real Estate Partners will use a $34.9 million construction loan to develop Covington Center, a 110-acre project in Covington, Georgia, according to Concord Summit Capital, the firm that arranged the financing for Edison. The developer has a deal in place to sell the finished lots to an undisclosed national homebuilder, Concord said.
Covington, 35 miles southeast of Atlanta, is the seat of Newton County. New housing developments are popping up across the area that is also known for its distinctive architecture.
In recent decades, the city has been a favored backdrop for movies and TV shows. "The Dukes of Hazzard" and "In the Heat of the Night" series filmed there, along with such movies as "My Cousin Vinny," "Remember the Titans" and "Sweet Home Alabama," according to the city's website.
Edison, founded in 2022, focuses on markets across the Southeastern U.S. It has completed more than $2 billion in residential and commercial transactions.
Concord did not reveal the name of the construction lender.
