New City Properties
New City Properties is a privately held, Atlanta-based commercial real estate development firm founded in 2016 that acquires, develops, and sells or leases mixed-use, adaptive-reuse projects across Georgia and Tennessee, serving enterprise tenants, institutional investors, and urban residents.
- Company typePrivate
- Founded2016
- HeadquartersAtlanta, United States
- Headcount1–10
- GTM typeB2B and B2C
- OfferingServices
What New City Properties does
New City Properties is a commercial real estate development firm founded in 2016 by Jim Irwin, a former Senior Vice President at Jamestown who led the Ponce City Market redevelopment. The firm acquires, entitles, develops, and either sells or holds mixed-use properties, with a stated focus on preserving historic structures and repurposing them for modern, walkable use. New City is principally focused on the Sun Belt, operating from its Atlanta headquarters with a Nashville office supporting the Germantown riverfront development.
New City Properties firmographics
Firmographics- Name
- New City Properties
- Legal name
- New City, LLC
- Website
- https://newcity-properties.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- New City Properties is a privately held, Atlanta-based commercial real estate development firm founded in 2016 that acquires, develops, and sells or leases mixed-use, adaptive-reuse projects across Georgia and Tennessee, serving enterprise tenants, institutional investors, and urban residents.
- Ownership category
- akta.pro rank
New City Properties industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Commercial and Institutional Building Construction (236220), Residential Building Construction (23611), New Multifamily Housing Construction (except For-Sale Builders) (236116)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
- akta.pro secondary industries
- New Construction & Builder Sales (BPAJAAAB), Urban Renewal, Brownfield Redevelopment & Land Reuse (BPAIANAI)
Keywords
Where New City Properties is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
New City Properties business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Supply Chain, Infrastructure
Revenue model
- Property Development and Sale: New City acquires underutilized or historic properties, entitles and develops them into mixed-use projects, then sells completed assets to institutional investors and REITs. Revenue is realized at sale closing. Example: 725 Ponce sold to Cousins Properties in July 2021.
- Commercial Leasing: New City leases office and retail space within its developed properties to enterprise tenants on long-term leases, generating recurring rental income. Example: 116,000 SF Oracle lease at Neuhoff in Nashville.
- Development Management Fees: As development partner in joint ventures (e.g., 50/50 JV with institutional investor at Neuhoff), New City earns fees for development and project management services.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
New City Properties product offering
Product offeringCore offering
New City Properties is a commercial real estate development firm that acquires, develops, and operates mixed-use properties with a focus on adaptive reuse of historic structures. The company entitles and develops large-scale projects combining Class-A office, multifamily residential, retail, and hospitality components in walkable urban Sun Belt markets (Georgia and Tennessee), then either leases them to enterprise and individual tenants or sells stabilized assets to institutional investors.
Product overview
New City Properties is a commercial real estate development firm offering a portfolio of mixed-use development projects, residential properties, and hospitality assets, primarily in Georgia and Tennessee. The company's core offerings include large-scale adaptive reuse projects (Neuhoff, Ponce City Market), mixed-use districts combining office, retail, and multifamily components (Fourth Ward, Foundries District), residential apartment buildings (Overline Residences, Neuhoff Residences), and boutique hotels (FORTH Atlanta). The firm also provides consulting operations for development strategy and investment activities. Projects range from completed assets to those in active development, with a focus on historic preservation and urban revitalization.
Differentiator
Problem solved
Functional benefit
Products and services
- Neuhoff Offices & Retail A 1.2+ million-square-foot mixed-use waterfront development in Nashville's Germantown neighborhood featuring adaptive reuse of a historic 1920s meatpacking facility into offices, retail, and public spaces; LEED-certified.
- Neuhoff Residences Residential component of the Neuhoff District in Nashville featuring Monroe House and Taylor House, offering apartment living along the Cumberland River in the historic Germantown neighborhood.
- Overline Residences An 18-story apartment building in Atlanta's historic Old Fourth Ward neighborhood featuring a stair-step profile with rooftop garden terraces, designed by Morris Adjmi Architects.
- FORTH Atlanta A boutique hotel in Atlanta's Historic Fourth Ward along the Atlanta BeltLine's Eastside Trail, featuring guest rooms and suites, elevated restaurants and bars, outdoor pool, and wellness amenities.
- Fourth Ward Offices & Retail A 2+ million-square-foot mixed-use district in Atlanta's Old Fourth Ward featuring 480,000+ square feet of office space, 359-unit multifamily tower, hotel/social club, and subterranean parking, anchored by MailChimp.
- Foundries District A 120-acre master-planned development in Chattanooga, Tennessee centered around a minor league baseball stadium, currently in development.
- 930 Marietta A development project on nearly 20 acres positioned between the Atlanta BeltLine's Westside Trail and Westside Park, currently in development.
- New City Consulting Operations Real estate development consulting services provided to partners and clients, including investment strategy, new business initiatives, and advisory operations.
Quantifiable outcome
- Ponce City Market spurred construction of nearly 2,000 new multifamily residential units and over $1 billion in new investment in the neighboring community
Companies that use New City Properties
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
New City Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
New City Properties partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Cousins PropertiesminorCousins Properties acquired 725 Ponce from New City Properties in July 2021. This was a completed transaction where Cousins purchased the mixed-use office development on the Atlanta BeltLine.
- S9 ArchitectscoreNew York-based S9 Architects serves as design architect and master planner for the Neuhoff mixed-use waterfront development in Nashville's Germantown neighborhood.
- Smith GeecoreSmith Gee is the architect of record for the adaptive reuse component of the Neuhoff development, working on the preservation of the historic meatpacking facility.
- HKS ArchitectscoreHKS Architects serves as site architect of record for the Neuhoff mixed-use development in Nashville.
- Morris Adjmi ArchitectsminorInternationally recognized Morris Adjmi Architects designed the Overline Residences project in Atlanta's historic Old Fourth Ward neighborhood.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
New City Properties competitors and assessment
Company assessmentDirect peers
- North American Properties: Atlanta-based mixed-use real estate developer and operator with a strong Sun Belt focus on retail-anchored mixed-use developments. Comparable in geography, mixed-use product type, and tenant-anchored development approach.
- The Integral Group: Atlanta-based commercial real estate developer focused on urban mixed-use, multifamily, and office projects. Comparable peer in target geography and urban mixed-use development model.
- Pope & Land: Atlanta-focused commercial real estate developer and investor with expertise in office, mixed-use, and industrial. Comparable peer given shared Southeast focus and commercial development expertise.
- Jamestown: Jamestown is a global real estate investment and management company focused on adaptive reuse and mixed-use developments, best known for Ponce City Market. Most directly comparable peer given New City founder Jim Irwin and multiple VPs came from Jamestown, and both specialize in historic preservation-driven mixed-use projects.
- Portman Holdings: Atlanta-based real estate development firm with a mixed-use and hospitality focus across the U.S. and internationally. Comparable peer given shared Atlanta base, mixed-use product, and adaptive reuse orientation.
Broad incumbents
- Lincoln Property Company: Diversified national real estate developer, operator, and investment manager. Comparable in mixed-use development scope though operates at significantly larger scale across multiple geographies and asset classes.
- Cousins Properties: Atlanta-based publicly traded REIT focused on Class-A office properties in the Sun Belt. Comparable as a buyer of New City's stabilized assets (acquired 725 Ponce in 2021) and as an institutional capital counterparty in the Southeast.
- The Howard Hughes Corporation: Master-planned community and mixed-use developer with major projects across the U.S. Comparable in master-planned community development (similar to Foundries District 120-acre project) and mixed-use product type.
- Stream Realty Partners: National commercial real estate services firm with development, leasing, and investment management across office, industrial, and mixed-use. Comparable in commercial real estate development services though broader in scope.
- Hines: Global real estate investment, development, and management firm with extensive mixed-use, office, and residential portfolio. Comparable in mixed-use development expertise though operating at much larger scale and broader geographic scope.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
New City Properties social profiles
Digital presenceNew City Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
New City Properties leadership team
Management profileNumber of profiles
Profiles11 records
New City Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
New City Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about New City Properties
What does New City Properties do?
New City Properties is a commercial real estate development firm that acquires, develops, and operates mixed-use properties with a focus on adaptive reuse of historic structures. The company entitles and develops large-scale projects combining Class-A office, multifamily residential, retail, and hospitality components in walkable urban Sun Belt markets (Georgia and Tennessee), then either leases them to enterprise and individual tenants or sells stabilized assets to institutional investors.
Is New City Properties a public or private company?
New City Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was New City Properties founded?
New City Properties was founded in 2016. It employs 1 to 10 people.
Where is New City Properties based?
New City Properties is headquartered in Atlanta, United States, in the North America region.
How does New City Properties make money?
Three revenue lines are on record. Property Development and Sale is the primary driver. The others are commercial Leasing and development Management Fees.
Who are New City Properties's main competitors?
Direct peers on record are North American Properties, The Integral Group, Pope & Land, Jamestown and Portman Holdings. Broad incumbents are Lincoln Property Company, Cousins Properties, The Howard Hughes Corporation, Stream Realty Partners and Hines.
Does New City Properties have an API?
No public API is recorded for New City Properties.
What industry is New City Properties in?
New City Properties's product category is Commercial Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities), with a secondary code of BPAJAAAB, New Construction & Builder Sales. Its NAICS code is 236220 and its SIC code is 6552.