Tag: Atlanta Ventures

Thirty years after the Olympics transformed downtown Atlanta, the World Cup is fueling another wave of development across the city’s core. Centennial Yards, South Downtown, new housing—the tournament’s biggest legacy may be the reshaping of downtown long after the final match ends.

Obsessed with reinvention since its inception, Atlanta today is witnessing a more piecemeal changeover, as I’ve personally seen over more than a dozen years of covering the city’s physical evolution. Instead of entire districts being flattened, it’s a row of older bungalows, an aging apartment complex, a shuttered factory—all broadly described as gentrification. But is that a gentler way of saying urban renewal never really ended?

What Newport had toiled for seven years to accumulate took David Cummings less than two months to purchase, through deals with seven different lenders. As of this writing, Atlanta Ventures’ new LLC, SoDo Atlanta, now owns all of Newport’s former holdings, save one. Cummings isn’t disclosing yet what he paid for such a hefty chunk of downtown, but says he’s pleased with the sale price: “You never know what something’s worth, [but] it feels good right now.”