South Downtown Redevelopment

[smArTaLlone]

German real estate company Newport US RE confirmed to Atlanta Business Chronicle it just acquired the more than 380,000-square-foot property for about $12 million. Newport had the former data processing and executive offices for NationsBank, the forerunner of Bank of America, under contract for months.

South downtown’s 222 Mitchell Street could be remade into new housing, retail space and office space, and possibly a hotel.

Asked how much it would pour into 222 Mitchell Street’s renovations, Newport development executives could not say for certain yet, but expected to spend “multiples of the acquisition price.”

Rendering released by a previous investor that never closed on the property.

[smArTaLlone]

https://atlantaintownpaper.com/2018/...easing-agency/

JLL has been awarded the retail leasing assignment for Newport U.S. RE’s revitalization project of South Downtown.

JLL Director of Retail Agency Leasing Coleman Morris and Vice President Molly Morgan are leading retail leasing at the property. The company is also handling office leasing for the development, led by Vice President Brooke Dewey and Vice President Liz Koteles.

Newport, a Germany-based real estate company, is moving forward with plans to transform 47 existing buildings in an eight block radius in South Downtown. The redevelopment will create a walkable urban neighborhood with retail, restaurants, loft residential units, creative office space and pedestrian plazas while retaining and restoring the historic buildings.

Other prospects include chef driven restaurants and coffee shops, food markets, breweries/distilleries, fitness centers, art and entertainment venues and service users.

Newport will invest $500 million in the project, which will span several years and total 1.8 million square feet.

Renovations are set to begin in the third quarter of this year, with the first spaces set to deliver in 2019. A street concept plan for the redevelopment, approved by Atlanta City Council last October, will make improvements along Broad Street, Mitchell Street, Martin Luther King Jr. Drive and Peachtree Street – prioritizing the needs of pedestrians, cyclists and vehicles. To achieve its vision, Newport has partnered with a team of architects, including BLDGS, Smith Dalia Architects, S9 Architecture, MT Studio and Stevens & Wilkinson.

[ATLMidcity]

South Downtown needs to catch fire, and the Gulch needs a "real" tenant.
But, with the purchase and development of 222 Mitchell St and convergence of the adjacent Railyard building into apartment, maybe South Downtown is ripe for a building boom of its own.

[skyscraperpage17]

Originally Posted by ATLMidcity

South Downtown needs to catch fire, and the Gulch needs a "real" tenant.
But, with the purchase and development of 222 Mitchell St and convergence of the adjacent Railyard building into apartment, maybe South Downtown is ripe for a building boom of its own.

Don't worry, Amazon's coming...

[smArTaLlone]

https://www.bizjournals.com/atlanta/...ore-to-be.html

The S.H. Kress department store is the latest historic building to become part of a $500 million redevelopment of south downtown.

Newport US RE bought the 34,000-square-foot art deco building on Broad Street for almost $3.3 million, according to Fulton County property records. Ackerman Broad Street LLC was the seller.

Earlier this year, Newport started renovations to multiple south downtown properties.

The project will reclaim the neighborhood’s brick, stone and terracotta buildings that once formed a thriving garment district, an eclectic collection of stores and shops — the city's true commercial beginnings.

[smArTaLlone]

The plans from the marketing brochure look outstanding.











The potential synergy with South Downtown, Underground and The Gulch


https://powersearch.jll.com/res/docs...e)_9664682.pdf

[crmr298]

Their marketing is on point for sure. This can't happen soon enough!

[Atlriser]

Does it claim Mitchell is changing from 1 way to 2 way with lane elimination? That’s news to me.

[700]

Much of this development feels very industrial, particularly the Peachtree Street courtyard. I'm getting strong Ponce City Market vibes, and that's a good thing!

[Street Advocate]

Here’s hoping they succeed in restoring the charm of much of south downtown. Will be lovely to see how this evolves over time and hopefully we all get to see developments of all those parking lots near Garnett Station.

[Vaden]

That looks really great. That Kress building is a great building. South downtown has the most potential for being "charming" in some fashion. It has the greatest stock of historic buildings in the city over multiple blocks and could be another great pedestrian oriented area. Getting new residents and businesses in the area needs to be the top priority otherwise it can't be sustained. Everything follows people. It would be nice to see downtown become something other than hotel/office/stadium central.

[Street Advocate]

Originally Posted by Vaden

That looks really great. That Kress building is a great building. South downtown has the most potential for being "charming" in some fashion. It has the greatest stock of historic buildings in the city over multiple blocks and could be another great pedestrian oriented area. Getting new residents and businesses in the area needs to be the top priority otherwise it can't be sustained. Everything follows people. It would be nice to see downtown become something other than hotels/office/stadium central.

Absolutely agree with this, especially for the existing charm and getting new blood to the neighborhood. Residents in general will drive success to both new and existing businesses. People have to want to live downtown. Seems like that has finally been turning the corner.

[Martinman]

There's just so much potential here to be the best place in the city period. So exciting!

[jpk1292000]

The potential here is really amazing. This could turn into the most walkable, interesting neighborhood in Atlanta. Getting people to live near here is really important to its success, though.

[smArTaLlone]

https://www.atlantamagazine.com/news...evitalization/

Starting in April, Newport plans to show part of that vision to the public with Pop Up Row, a group of temporary spaces that will open along Mitchell Street through the end of July. Eight spaces will be available, ranging from 750 square feet to 1,400 square feet, according to Newport’s president Jake Nawrocki and vice president April Stammel. The hope is to fill them with local businesses, makers, nonprofits, and more before starting on permanent spaces.

After July 31, the Mitchell Street pop-ups will close to start construction on ground-floor retail, with office space and potentially loft apartments in the two to three floors above. Long-term tenants will move in in early 2020, around the same time that Newport begins renovations on the former C&S Bank Building that occupies the entire block across the street from the pop-up spots. Newport says that the “best-case scenario” would be for the early summer pop-ups to become permanent tenants.

Potential pop-up tenants can begin applying for one of the spaces beginning March 4. Newport will cover rent and utilities for the spaces and will give each pop-up a $500 start-up allowance meant to be used for “minor improvements” such as paint, interior decor, and signage. The businesses will need to have a City of Atlanta business license, liability insurance, maintain certain hours, and participate in events along the street.

[Martinman]

What a great idea!

This is the project I am most excited about and these days, that's saying a lot.

[Historic]

Amazing news! I can’t wait for the retail tenants to add activity to this historic street. And the redevelopment of the C&S Bank building has been one of my most anticipated projects in the city. That bank is gorgeous and between the Norfolk Southern residential redevelopment and this redevelopment, the area will stand to gain a lot of new residents, making the area so much more dense.

[smArTaLlone]

https://www.bizjournals.com/atlanta/...source=twitter

Here's a list of pop-ups that will temporarily open along historic Hotel Row:

• Atlanta Makery at 211 Mitchell: A maker’s collective gift shop showcasing a variety of local Atlanta makers operated by Courtney Johnson. The shop will include apothecary, apparel, accessories, leather goods, stationary, art, gifts for men, baby items and edible gifts like local honey, jams and chocolate.
• The Mast at 213 Mitchell: The Mast is an art gallery space representing emerging artists of Georgia. The gallery is a space for rotating exhibitions of work of all mediums, including photography, with some works for sale. It is a collaboration between Ellie Dent and Alex Williams.
• The Bookery at 215 Mitchell: The Bookery is the first in-town bookstore from the group behind Mableton’s Book House. The store will focus on carrying new books of a wide variety, but will also include a used section.
• Eighth & Style at 217 Mitchell: Eighth & Style is a brand experience agency that specializes in "creating relatable, experience-rich environments for both influencers and brands," according to a Newport spokesperson. The retail store concept will be a multi-functional location that marries retail and events for influencers, brands and consumers. The Eighth & Style team includes Adrienne McCrary, Michelle Carlton and Jasmine Jones.
• Otis Damon Millinery at 219 Mitchell: A retail hat store that focuses on "creating timeless pieces" for customers, according to a Newport spokesperson. Each hat is handmade and customized to its wearer.
• Ennyluap at 221 Mitchell: Ennyluap is an Atlanta-based clothing store founded by fashion designer Amanda Williamson.
• The Art of Adam Crawford at 227 Mitchell: This pop-up artist space features the work of a variety of Atlanta artists and include studios for artists on a rotating basis.
• Kea Beverages at 233 Mitchell: Kea Beverages was started in April 2018 by Keaton Hong and Sean Keating as a juice delivery concept, but quickly turned into a mobile cart serving cold pressed juices, kombucha and nitro coffee on tap.

[smArTaLlone]

This is almost like the first phase of South Downtown's redevelopment. They are marketing 50,000 sf of retail as "The Canyon".

[bryantm3]

i don't know why they are continuing to push such large retail slots in projects like this. that canyon is a perfect spot for a marketplace of many smaller vendors. no one that can afford to rent those storefronts is going to rent a storefront down there. who is going to rent a luxury storefront in south downtown at this point, and under the street where signage isn't visible? they'll stay empty and unsafe until the neighborhood has gentrified. it doesn't seem right to me.