Now there are strings attached to the park donation. In Isakson Living's most recent stipulation letter, they are not required to make the park donation until the final "certificate of occupancy" is issued by the county. A "certificate of occupancy" is the final inspection that a house or building is safe for occupancy. There are at least 76 structures in their plan, including 65 houses, 9 large apartment buildings, and 2 other large buildings, all of which will each require a certificate of occupancy. Thus, the park donation is contingent on 76 or more "certificates of occupancy", and if even one of their planned buildings is not built, Isakson Living is under no obligation to make the park donation.
We have asked Isakson Living for a reasonable time-frame for making the park donation, such as either when a particular phase of construction was complete, or 48 months after zoning approval, whichever comes first. They have thus far refused. When asked how long construction will take, Isakson Living has consistently answered 3 to 4 years, so why not set a definite time for the park donation?
The market may not exist for Isakson Living's full plan, meaning the site may never be built out, which would mean they are never obliged to make the park donation.
Anything can happen, like the situation at Isakson Living's Peachtree Hills site in Buckhead, where their planned retirement community development has been stalled for 7 years. To this day, it remains just empty lots surrounded by chain-link fences.
For those who bought into Isakson Living's promise of a park donation, please be aware, it may never happen, even if they succeed in rezoning the Tritt property.