NewTown finds developers for endangered buildings by using our Transitional Property Fund. The Transitional Property Fund allows you to donate or partially donate buildings to NewTown, and NewTown to pass the buildings onto capable developers. You can even make cash contributions to this fund to allow NewTown to purchase, rehabilitate and sell endangered downtown buildings in perpetuity. When buildings are developed, NewTown places legal restrictions ensuring the building is developed to its highest potential, that it is always maintained and that it is never torn down.
The effect of the Transitional Property Fund is impressive. With the fund, NewTown has protected 518-530 Cherry Street, now home to Travis Jean, Doughboy Pizza, an additional commercial property and multiple residential units. NewTown’s fund also saved 476 Second Street, currently under construction as a restaurant and five apartments. The list goes on to include 552-580 Cherry Street, which produced two commercial storefronts and 39 lofts. Finally, the Fund is inducing development on Poplar Street by transitioning 566 Poplar Street, housing 12 apartments, and 546 Poplar Street, home to Taste and See Coffee Shop and multiple lofts.