South downtown just got one step closer to a transformation developers call imminent and immense.
Germany-based developer Newport, which has bought up dozens of properties in the neighborhood, announced Thursday it had contracted professional services firm JLL to scout retail tenants to fill its spaces.
The group plans to bring, among other businesses, “chef-driven restaurants and coffee shops, food markets, breweries and distilleries, fitness centers, art and entertainment venues, and service users,” according to a JLL press release.
It’s by no means a little job.
The move is part of a long-overdue, $500 million makeover awaiting an eight-block slice of downtown Atlanta, to include some 47 structures owned by Newport.
Buildings on Peachtree Street, Martin Luther King, Jr. Drive, Mitchell Street, and Broad Street are staring down the barrel of serious renovation plans.
By way of restoring longstanding structures, likely building others anew, and adding new infrastructure, Newport aims to turn the south downtown area into a vibrant walkable and bikeable entertainment and restaurant hub.
JLL is the same company in charge of leasing spaces in Summerhill’s Turner Field—er, Georgia State Stadium—area redevelopment.
Newport’s plans for south downtown, which will eventually entail the reinvention of nearly 2 million square feet of property, are anticipated to take quite a few years to finish.
But the neighborhood’s first new businesses, officials say, could open next year.