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Former Janitor Is a Successful Chattanooga, Tenn., Residential Developer.
Byline: Beverly A. Carroll
Jul. 16--A decade ago Tim Downey was sweeping out the offices of one of Chattanooga's biggest commercial developers.
Today, the Chattanooga developer is cleaning up in the residential industry.
At age 25, Mr. Downey's janitorial business cleaned the offices of CBL and Associates and he would occasionally find himself sweeping the offices of CBL's chief financial officer John Foy.
"He would talk to me about residential development. He helped me get into it," Mr. Downey recalled.
Today, Mr. Downey heads Southern Land Co., which is responsible for such luxury residential subdivisions as Legends and Emerald Valley in East Brainerd and Ramsgate and Laurel Cove in Hixson. Homes in Legends range from $450,000 to over $1 million and the other communities boast houses from $250,000 to $400,000.
Mr. Downey has also developed luxury homes in …
