Close Menu
BestNewsOnline
    Facebook X (Twitter) Instagram
    BestNewsOnline
    • Retirement planning
    • Insurance
    • Real estate
    • Subscription
    BestNewsOnline
    Home»Real estate»European real estate firm redevelops large swath of south downtown Atlanta – WSB-TV Channel 2
    Real estate

    European real estate firm redevelops large swath of south downtown Atlanta – WSB-TV Channel 2

    January 27, 20232 Mins Read
    WhatsApp Facebook Telegram

    ATLANTA — A European real estate firm has purchased more than 50 properties in a long-troubled neighborhood of downtown Atlanta.

    They bought five properties this month alone.

    The company said Channel 2 Consumer Investigators Justin Gray that he plans to drastically alter a neighborhood known for its empty parking lots and vacant buildings.

    European company Newport Real Estate has purchased a large percentage of the property in what has for years been a struggling 10-block section of south downtown Atlanta.

    “We’re in 53 buildings and about six acres of surface parking,” April Stammel of Newport Real Estate said of the properties.

    So far, about an entire block of Newport’s vision is almost a reality. They call it Hotel Row.

    “So basically Hotel Row, from our perspective, is sold out,” Stammel said.

    TRENDING STORIES:

    The area was once made up of a series of small hotels near an old train station. Now their neighbor is the Mercedes-Benz Stadium.

    Newport has lined up a string of small businesses, including a pizzeria and cafe, preparing to move in.

    On the other side of the street, a complete building is being renovated for offices. Next, clearance is pending for the next section – two apartment towers.

    “Every 12 months (we go) into pre-development on another substantial block,” Stammel said.

    Newport hopes to transform the stretch of vacant buildings and long-neglected surface parking lots into a neighborhood for living, working and playing.

    “You just want to bring some life here?” Gray asked Stammel.

    “That’s all we want to do – life,” Stammel said.

    Newport told Gray they plan to save as many historic structures as possible and use the parking lots for new construction.

    At the borders of the area are essentially two other giant development projects from other companies – the Gulch on one side and Underground Atlanta on the other.

    IN OTHER NEWS:

    Hall County man sentenced to life in prison for child sexual abuse

    ©2023 Cox Media Group

    Add A Comment
    Leave A Reply Cancel Reply

    What's hot

    Central Arkansas sees commercial real estate recovering from covid

    November 13, 2022

    Community Submissions – InsuranceNewsNet – Insurance News Net

    November 10, 2022

    Real estate securitization: a growing market with a long-term horizon

    November 28, 2022

    Property companies are about to tell us how bad the downturn is

    November 2, 2022
    Don't miss

    What should New York homebuyers expect in 2023?

    December 28, 2022

    The association pays tribute to the inhabitants during a real estate banquet

    January 24, 2023

    Mansion Global Daily: Australian rents rising at record pace

    January 12, 2023
    Picked for you

    LACERA invites tenders for the system’s emerging real asset management program

    Retirement planning February 2, 2023

    The Los Angeles County Employees Retirement Association invites proposals from qualified companies to implement the…

    BestNewsOnline.net is owned and managed by

    Top10 International FZ LLE
    Office 2002, 20th Floor, Creative Tower
    Fujairah, United Arab Emirates
    TRN: 100608946800003

    • Home
    • Contact us
    • Privacy policy
    • Terms and services

    Type above and press Enter to search. Press Esc to cancel.