Newnan council transfers 57 East Broad Street to Downtown Development Authority for mixed-use redevelopment

The City of Newnan on July 22 voted unanimously to transfer authority for 57 East Broad Street to the Newnan Downtown Development Authority to allow redevelopment of the city‑owned property. The transfer was approved by the city council after an executive session and formal vote. The Downtown Development Authority (DDA) will finalize purchase and sale agreements with Caldwell Development Investments and Red Hills Hospitality Group to develop the 5.59‑acre parcel into a mixed‑use project that the agenda packet describes as restaurants, a food hall, office and retail space, residential lofts and a 125‑room Marriott hotel. Council members and staff framed the intergovernmental agreement as a required step because the city may transfer property directly only to another legal authority; the DDA is a legal authority under the Official Code of Georgia Annotated. The agreement gives the DDA authority to execute the real‑estate transaction and move the development process forward. The vote followed work sessions and public input earlier in the redevelopment process. No specific sale price or construction schedule was presented in the meeting materials or during the council discussion on July 22. Council action does not itself approve any final development plan or construction permits; the DDA and the developer will handle purchase, sale and subsequent approvals in the usual permitting and development review processes. Looking ahead, the council indicated the DDA will lead negotiation and implementation steps with Caldwell Development Investments and Red Hills Hospitality Group.