This entity is the most direct predecessor of the current Company. Originally formed in 1953 as a general partnership by Mr. Alcorn, Sr., the company specialized in building mobile home parks throughout Virginia, West Virginia and North Carolina. Park Realty became a sole proprietorship in 1977 with the death of Mr. Alcorn's partner. In 1981, Rick became General Manager. Gradually the emphasis and direction of the company changed from mobile home parks to the ownership and management of all types of income properties, including many of the projects listed here. The company merged its operations with Park Real Estate Inc. in 1996.