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.