Our current strategic plan correlates with our 2012-2017 capital campaign. With your investment, we promise to deliver measurable progress for downtown revitalization. Below is an update on our progress towards these goals as of March 2016.
- Add 125 housing units
- 163 complete, occupied
- 200 more units expected
- Maintain 85% housing occupancy
- Over 90%
- Stabilization at 95%
- Increase storefront occupancy by 25%
- 17% increase to date
- 25% increase by 2017
- On track
Since 2012, 163 downtown lofts have been added to our urban core footprint, which translates into 254,000 sq. ft. of newly renovated space.
Forging Public/Private Partnerships
The first issue of the NewTown Development Loan Fund, which provides gap financing to developers, has been expended. In August 2015, Macon-Bibb Commission unanimously voted to issue an additional $5 million in bonds to continue this Loan Fund to continue driving redevelopment.
As of July 2015, loft occupancy recorded at 99%. It is estimated that these new downtown residents will generate $200,000 in new sales tax revenue annually.
NewTown launched both an Entrepreneur’s and Developer’s Academy to assist both potential entrepreneurs and developers with the tools and knowledge in starting a business as well as undertaking a downtown revitalization project.
Increasing Storefront Occupancy
The storefront occupancy within our three target blocks has increased from 52% in 2012 to 69% today. In 2015 alone, 25 net new downtown businesses opened.
Expanded Ocmulgee Heritage Trail
Amerson River Park, formerly Amerson Water Works Park, re-opened in July 2015, after a yearlong closure that allowed for $5.5 million in park improvements.
Mercer Music at Capricorn
We announced the development of the $25 million Capricorn project including the 137-unit Capricorn Lofts and Mercer Music at Capricorn, bringing life back to the historic Capricorn Studio thanks to your support through the Transitional Property Fund.
In October of each year, NewTown Macon releases its annual report for the prior fiscal year. In addition to this report, we host a free public tour, The Tour of Progress, to allow Middle Georgians to explore the latest revitalization projects downtown. You can browse our most recent annual report below or expand the menu to find all of our previous annual reports.
You may download our most recently filed tax return by clicking here: NewTown Macon’s Form 990