German developer abandons downtown Atlanta project after investing millions in South Downtown properties

Newport agree to sell its $800 million South Downtown portfolio to Atlanta-based developer, Braden Fellman Group

Atlanta, Georgia – Can South Downtown be saved? Newport RE gave us hope that the local community could be saved, redeveloped, and reimagined to become better things. Newport made a grand entrance within the downtown community, buying up millions of dollars worth of properties south of Alabama Street, and worked with local residents to make the area better.

Newport is blaming their exit from the Atlanta market due to “global economic pressures.” The Atlanta Journal-Constitution published comments from Newport CEO, Olaf Kunkat, that read, “Simply put, the market changes coming out of COVID, prolonged war in Europe and recent rise in interest rates led Newport and our South Downtown investors needing to reprioritize capital investments.”

With abandoned properties and an area high in crime, the South Downtown community was in need of a major cleanup. Not since the days of Darien Long, the Metro Mall security guard that wreaked havoc along Broad Street by personally confronting the dangers on his own. Long eventually became a popular figure in the South Downtown community and a viral sensation with his videos showing his daily interactions and dangerous encounters at work.

Unlike Long, Newport NE had money and their approach was different… Buy up the blocks of South Downtown. Newport spent millions of dollars and shared their new vision of the area, and residents, business owners, and community advocates grew excited about Newport’s vision. Coincidentally, Underground Atlanta was going through plans for redevelopment with new owners as well. So the redevelopment of Underground Atlanta and South Downtown was great news not only for the downtown community but for the entire metro Atlanta community as its hub to help attract tourists to the area.

But where do we go now that Newport is pulling out of their $800 million vision of South Downtown? It has been reported that Newport is selling their portfolio to the local developer, Braden Fellman Group. Will they have the same vision for South Downtown? Will they pursue the same goals to help make the area more vibrant and family-friendly?

If all else fails and South Downtown seeks a hero to help us prevail. I say bring back Darien Long, Metro Mall Cop!!!