Organization: NEWTOWN MACON INC
Mission: NEWTOWN MACON'S MISSION IS TO ATTRACT, LEVERAGE AND INVEST IN SELF- SUSTAINING TRANSFORMATION.
Activities: CREATING A SENSE OF PLACE: A DESIRABLE NEIGHBORHOOD IS BOTH LIVABLE AND WALKABLE, SO NEWTOWN MACON IS PROMOTING THE DOWNTOWN LIFESTYLE AND PROVIDING RECREATIONAL ACTIVITIES. NEWTOWN PROMOTES A SENSE OF PLACE BY MANAGING FIRST FRIDAY EVENTS, BEAUTIFYING THE STREETS, PROMOTING DOWNTOWN EVENTS, AND PROMOTING THE DEVELOPMENT OF THE OCMULGEE HERITAGE TRAIL. ONE OF THE MOST TRANSFORMATIVE WAYS NEWTOWN MACON IS CHANGING DOWNTOWN IS BY TURNING VACANT, DILAPIDATED BUILDINGS INTO BEAUTIFUL USEFUL SPACES. ANOTHER WAY THAT NEWTOWN CREATES A SENSE OF PLACE IS BY PROTECTING ENDANGERED BUILDINGS BY USING THE TRANSITIONAL PROPERTY FUND (TPF). THIS FUND ALLOWS A BUILDING OWNER TO DONATE OR PARTIALLY DONATE A BUILDING TO NEWTOWN, AND NEWTOWN MATCHES THE BUILDING TO CAPABLE DEVELOPERS. THE TPF HELD ONE PROPERTY DURING THE FISCAL YEAR FOR FUTURE DEVELOPMENT, WHICH IS A DEVELOPABLE RIVERFRONT LOT AT 167 RIVERSIDE DR. ONE PROPERTY PREVIOUSLY HELD BY THE TPF WAS IN THE DEVELOPMENT PROCESS DURING THE FISCAL YEAR: 476 SECOND STREET, WHICH IS UNDER CONSTRUCTION FOR LOFTS AND A RETAIL TENANT. ANOTHER FORMER TPF HOLDING WAS RETURNED TO SERVICE DURING THE YEAR AS MERCER UNIVERSITY COMPLETED THE RESTORATION OF THE HISTORIC CAPRICORN RECORDING STUDIO. THE TPF CONTINUED TO INDEPENDENTLY OWN AND CONTINUE REHABILITATION OF 455 AND 461 THIRD ST., A HISTORIC THEATRE AND A MIXED-USE BUILDING. THREE ADDITIONAL TPF PROJECTS REMAINED UNDER SHARED OWNERSHIP AND IN DEVELOPMENT: A BOUTIQUE HOTEL AT 350 SECOND ST., A MIXED-USE BUILDING AT 536 THIRD ST. AND A MIXED-USE BUILDING AT 596 CHERRY ST. PREVIOUS TPF PROJECTS INCLUDE: 518-530 CHERRY ST. (TRAVIS JEAN), 552-580 CHERRY ST. (LAMAR LOFTS), 566 POPLAR ST., 546 POPLAR ST., 350 SECOND ST. (CAPITOL), 555 POPLAR ST., 454 TERMINAL AVE., 360 SIXTH ST., RIVERSIDE DR. ASSEMBLAGE, 300 CHERRY ST. (SPORTS HALL) AND 745 POPLAR ST. (SHRINE TEMPLE). THE OCMULGEE HERITAGE TRAIL (OHT) CONTINUES TO BE ONE OF OUR MAIN FOCUSES AS A PUBLIC/PRIVATE PARTNERSHIP. NEWTOWN MACON RUNS AN ADVISORY COMMITTEE TO PLAN AND MANAGE EXPANSION AND IMPROVEMENT OF THE TRAIL SYSTEM AND RAISE PRIVATE FUNDS TO ENABLE THESE IMPROVEMENTS THROUGH THE OHT CONSTRUCTION FUND. ONCE IMPROVEMENTS ARE COMPLETE, NEWTOWN TURNS THE IMPROVEMENTS OVER TO LOCAL GOVERNMENT TO RUN AS PUBLIC PARK SPACE IN PERPETUITY. DURING THE FISCAL YEAR, WE COMPLETED THE DESIGN, FABRICATION AND INSTALLATION OF A MASTER SIGNAGE PROGRAM THROUGHOUT THE EXISTING TRAIL SYSTEM. WE ALSO COMPLETED A BRIDGE INSTALLATION AND TRAIL EXTENSION PROJECT IN RIVERSIDE CEMETERY. A TRAIL CONNECTION IN AMERSON RIVER PARK CONNECTING THE NORTH OVERLOOK TO THE JAY HALL RIVER ACCESS REMAINED UNDER CONSTRUCTION AT THE END OF THE FISCAL YEAR.
INCREASING RESIDENTS: NEWTOWN MACON IS INCREASING DOWNTOWN RESIDENTS BY FUNDING LOFT DEVELOPMENT THROUGH THE REAL ESTATE LOAN FUND. THIS LOAN FUND WAS ESTABLISHED IN PARTNERSHIP WITH THE MACON BIBB URBAN DEVELOPMENT AUTHORITY AND MACON BIBB COUNTY. WE USE BOND FUNDS IN VIABLE RESIDENTIAL PROJECTS TO CLOSE THE GAP BETWEEN SOURCES OF FUNDS (INCLUDING OWNER EQUITY, TRADITIONAL FINANCING AND HISTORIC TAX CREDITS) AND THE ACTUAL COST TO REHABILITATE OR BUILD REAL ESTATE DEVELOPMENTS DOWNTOWN. AT THE END OF THE FISCAL YEAR, NEWTOWN HAD 8.2 MILLION OF LOANS IN SERVICE ON PROJECTS. IN TOTAL, NEWTOWN'S REAL ESTATE LOANS PRODUCED PROJECTS WITH MARKET VALUES OF 90 MILLION, EXPECTED TO PRODUCE 282 RESIDENTIAL LOFTS AND REHABILITATE OVER 4,581,000 SQUARE FEET OF UNDERUTILIZED BUILDINGS. NEWTOWN MACON ALSO PROMOTES DOWNTOWN LIVING THROUGH MARKETING AND BRANDING, AND BY HELPING PEOPLE FIND A PLACE TO LIVE THROUGH THE LOFT FINDER ONLINE SERVICE AT NEWTOWNMACON.COM/LIVING. THROUGH THESE STRATEGIES, DOWNTOWN MACON IS ATTRACTING NEW RESIDENTS. WE EXCEEDED OUR GOAL OF 85% OCCUPANCY WITH 95% OF THE LOFTS OCCUPIED AT THE END OF THE FISCAL YEAR.
GROWING JOBS: NEWTOWN MACON ALSO PROVIDES SUPPORT FOR ENTREPRENEURS. WE OFFER A VARIETY OF SERVICES INCLUDING SHEPHERDING APPLICANTS THROUGH THE PERMIT PROCESS, ONE-ON-ONE MENTORSHIP COUNSELING, AND ACCESS TO CAPITAL THROUGH LOANS, EQUITY INVESTMENTS AND JOINT VENTURES. OUR STAFF CONDUCTED OVER 100 SMALL BUSINESS CONSULTATIONS DURING THE FISCAL YEAR. AT THE END OF THE FISCAL YEAR, NEWTOWN HAD FOURTEEN INVESTMENTS IN BUSINESSES OUTSTANDING, FOR A TOTAL OF APPROXIMATELY 534,000. THESE SERVICES ATTRACT BUSINESSES TO DOWNTOWN, VERIFIED BY A TOTAL OF 10 NET NEW BUSINESSES OPENING IN DOWNTOWN MACON DURING THE FISCAL YEAR.
NTEE category: Community Improvement & Capacity Building
Secondary category: Housing & Shelter