Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
TENFIELDTO
DEVELOP SILVER
LAKE PROPERTY
Beauty Spot Will Be Turned Into
High-CIass Residence District
With Ia Miles Of Streets.

Silver lake is to be developed at
once into a hiEh-ciass residence com
munity ny l.. P Rottennsld-
A company. the silver Lake rs
tstes," which also viii be the name
OF the park and community, viii be
organized with 100000 capital, jus,
as soon as the legal formallties OF
securing charter can be complied
with, for the purpose Of buying, de-
veloping and placing on the market
the Silver Lake property.
This development is TO include not
only water, sewers transportation,
gas, electricity, telephones and every
essential home convenience, but con
templates also the building Of big
tourist hotel and a vacnt club and
casino on the lake
Near srookhaven Club.
Silver Lake lies IN a basin from
which arise beautifully wooded nils,
lust OF Peachtrce Road and but
short distance beyond the entrance
to the Brook haven Club, now part
of the Capital City Club.
Il Is reached by an S0-fOOt boule-
ward. parked and cherted from tho
Peachtree road entrance and running
900 feet to an emincnCe overlooking
the lake, which has been set apart as
a site for a summer and winter
tourist hotel, from which can be seen
Kennesaw and the Blue Ridge to the
north and Stone Mountain to the
south
Around the lake are four miles OF
residence frontage while tho total
frontage throughout the park tract
aggregates, according 10 a survey re-
Gently completed. 1880 feet. From
this must be deducted about $4,000
feet Of frontage. and 90 acres Of
parks. This leaves net residence
frontage Of 81 500 feet
Fourteen Miles Of Streets.
The seven miles Of streets already
constructed will be improved and
paved wherever needed. Approx
mately an additional seven miles Of
streets win be gT-Ied and cherted
those will he from so to 80 feet In
width, and with the four mile lake
drive VIII form one of the special at
fractions OF the park
Modern and up-to- date water and
sewer systems viii be installed, the
water furnished from artesian wells
while a sewage disposal plant will be
constructed below the lake
Silver Lake Estates win assure
adequate transportation service and
gas electricity, telephone and tele-
graph viii be brought 10 the doors OF
its residents; public school sites will
be set apart and a public school VIII
There win be no stores except in
the specially set apart market sec
don; no negro will be allowed 10
own property anywhere near Il.
Plans foE the establishment OF the
new Orlethorpe University a revival
OF the Oglethorpe University OF
tract Immediately adjoining Silver
Lake Estates win be brought TO
head this month This Is projected
TO be a 50 600 600 institution.
Land Dividend Features.
Mr. Bottenfeld's plan contemplates
the ultimate sale of the entire prop
erty al an average of S25 to $40 per
front foot, or n total OF more than
s2,500,0O0. an Atlanta real estate
transaction which he considers will
bring the stockholders when the
property Is sold five times the amount
OF their investment, or a profit Of 400
per cent,
An entirely new feature of the plan
as proposed Is TO declare land divi-
deud soon after the organization OF
the company, which will give each
stakeholder lot in Silver Lake Es-
tates at the appraised selling value
OF the property. equal TO his stock
subscription. in addition to which he
retains his stock and interest in all
profits from future sales OF the prop
erty.