Senior Vice President of Newport, April Stammel, and Executive Vice President, Kevin Murphy, are in studio for today’s episode of Atlanta Real Estate Forum Radio. Joined by co-hosts Carol Morgan and Todd Schnick, the group discusses Newport’s South Downtown Atlanta restoration project on this All About Real Estate segment of Radio.
Newport is a real estate investment and development group founded in Hamburg, Germany. For over 25 years, Newport was operated in Europe, with the goal of eventually expanding into the United States market. In 2016, the company planted a United States headquarters in Atlanta. After searching the area for a perfect place to start his first project, the CEO of Newport settled on South Downtown Atlanta.
“Over the 10 city blocks that they walked, they saw rundown buildings and boarded up windows, but beautiful historical architecture, a really incredible street grid very familiar to a European and a ton of opportunity,” said Stammel.
Over the course of eighteen months, the Atlanta team began buying up as many privately owned buildings in the area to accumulate over 80% of the property in their selected grid. Currently, the team has switched its focus towards redeveloping and restoring the buildings and the area.
Most of the buildings are over 100 years old. The team is working to preserve the buildings while also creating unique and functional properties. In addition to buildings, Newport acquired several parking lots and empty spaces. Part of the restoration process includes turning these spots into walkable connections to other parts of Atlanta, including Five Points, Mercedes-Benz Stadium and other local hotspots.
Newport recently announced its plans to break ground on 222 Mitchell Street. This project is a 300,000 square foot holding that was originally built as an office building and bank headquarters. The plan is to restore the area to its original intent, creating class A office space in the Downtown area. 222 Mitchel Street also includes 70,000 square feet of retail and 20,000 square feet of rooftop spaces. The rooftop is to be used as a restaurant and special events location with a stunning view of the surrounding city.
To learn more about upcoming Atlanta projects with Newport, visit www.newportre.com/en. Also, be sure to listen to the full interview above for more details and the inside scoop.
Georgia Residential Mortgage Licensee, License #22564. NMLS ID #6606. Subject to borrower and property qualifications. Not all applicants will qualify. New American Funding and Newport are not associated. Click here to view the terms and conditions of products mentioned during the show. Corporate office 14511 Myford Rd., Suite 100, Tustin, CA 92780. Phone: (800) 450-2010. (September/2020)
New American Funding is a family-owned mortgage lender with a servicing portfolio of over 123,000 loans for $30.4 billion, 198 branches, and about 3,100 employees. The company offers several niche loan products and has made Inc. 5000’s list of Fastest-Growing Companies in America six times. It has a state-of-the-art career training facility and develops innovative technology, including the GoGo LO mobile application. For more information, visit www.branch.newamericanfunding.com/Atlanta.
The Atlanta Real Estate Forum Radio “All About Real Estate” segment, presented by Denim Marketing, highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact Denim Marketing at 770-383-3360 or fill out the Atlanta Real Estate Forum contact form. Subscribe to the Atlanta Real Estate Forum Radio podcast on iTunes, and if you like this week’s show, be sure to rate it.