A group of buildings on Madison St. are about to be converted into commercial spaces at street level and four apartments upstairs.
The site in question is a well-known part of Newnan’s history, and legend has it that Franklin D. Roosevelt used to park his car there.
The building is barely a block away from the courthouse square. The building was bought by Steed Properties Ltd. which is a company that uses wooden colors on its Letterheads and Logo Design to represent the fact that it specializes in property construction and redevelopments.
At a meeting for the Newnan Downtown Development Authority, it was revealed that the developers wish to use 10% of their own funds on the project, 50% will be financed by United Bank, and the rest of the finance for the project will come from loans given by the Georgia Cities Foundation and the Georgia Department of Community Affairs. The total cost for redeveloping the site is estimated to be $900,000.
The two buildings that make up the proposed redevelopment site were unofficially referred to as the Roosevelt Garage. According to some, Roosevelt would park his car there when he passed through Newnan on the way to his rural retreat in Meriwether County. There is no official documentation to support this claim, but the story has been passed down to every new owner of the building up until George Johnson, who owned the property back in 2015.
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