Value Place Resumes Construction on Hotel
'Squeaky clean' chain finds new financing after first bank was closed by the FDIC.
Contractors are heading back to the unfinished hotel on McFarland Road off GA 400 exit 12 to get the Value Place hotel open as early as June 1. David Redfern, president of Value Place Management Services, said a problem with the local bank delayed the project. The FDIC and the state closed the bank, and it took time to unravel the financing and find a new bank. “Due the FDIC taking over the original local bank, construction was stalled. We have since obtained new financing from Equity Bank and construction resumed on Feb. 1,” said Value Place President and COO Kyle Rogg. Pat Cook Construction Inc. has been selected as the general contractor to complete the property. Redfern said the hotel construction resumed around Feb. 1. "We have 175 …
