Before the housing bust, there were projects all over the country that were abandoned when their developers couldn’t afford to finish them, but one subdivision, Walker’s Bend in Georgia, beat the odds and is making a comeback.
The Walker’s Bend subdivision in Covington, Georgia, was approved in 2003 and was large enough for 249 homes on 50 acres. By 2007, only 50 homes sold and developer Timber South filed for bankruptcy, according to The Atlantic.
As a result, many lots and homes were owned by banks and the neighborhood became unsafe. City planning director Randy Vinson decided to revamp the development and the city bought the land to finish the project so the homes could be rented out to low-income families.