Two apartment towers planned for Atlanta’s Broad Street in South Downtown

Newport RE plans to build two new two apartment towers with a total of 650 units between them on Broad Street as part of its massive redevelopment of South Downtown.

The residential towers would stand 18 and 21 stories. They would be built ground-up and face each other, standing on the east and west side of Broad Street on several parcels between Mitchell Street and MLK Jr. Drive, and between Peachtree and Forsyth streets. Newport also plans to renovate some of the existing, historic buildings on Broad Street for retail and restaurant spaces. Construction is slated to start in early 2023 and be completed by 2025, according to a news release.

The apartment towers are the newest component of Newport’s longterm, $500 million vision to revitalize South Downtown, once a vibrant hub as part of Atlanta’s beginnings as a railroad town. Newport is putting the final touches on its renovations to historic Hotel Row and the 222 Mitchell building where office, retail and restaurant tenants are already moving in. The company owns 48 buildings and several parking lots spanning some 10 blocks in the area.

Newport’s residential project includes the “West building” and include 300 units; the “East building” will have 350 units. Both will include a mix of studio, one-, and two-bedroom units including many with private outdoor space.

Newport in 2017 received an $8 million grant from Invest Atlanta for its “South Dwntwn” neighborhood redevelopment plan that includes more than 40 buildings spanning numerous blocks. As part of the grant, Newport is required to include at least 20% of residential units as affordable housing. The company said it would set aside 70 of the units of the East building for those making 80% of the average median income (AMI). Maximum rent for a one-bedroom at 80% in 2022 is just under $1,500.

More than 7,000 square feet of retail will also be offered at reduced rates, according to Newport.

The two new buildings are designed by Studios Architecture and will be built by Brasfield & Gorrie.

Adding hundreds of apartments to Downtown Atlanta is something many in the city have wished for as well. Adjacent to Newport’s “South Dwntwn” neighborhood redevelopment is CIM Group’s $5 billion Centennial Yards project that also includes new apartment complexes with retail. Nearby Underground Atlanta is moving into its master planning stage that could include student housing. 

“For this to be a neighborhood, there simply have to be more neighbors,” said April Stammel, Newport Senior Vice President, in the news release.

“There’s a craving for city culture in Downtown Atlanta – for more walkability, entertainment and a desire to be part of something bigger. We feel a great responsibility and take very seriously the opportunity to develop the best and highest use for the neighborhood on every inch of the land we own.”