Newport Team Opens Second Condo Venture

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ATLANTA-Newport Development’s newly opened Prescott at Park Place in suburban DeKalb County has sold 70% of its 110 condominium homes at prices ranging from $180,000 to $320,000. The sales give the developers an estimated first-week gross sales of at least $20 million, area residential brokers familiar with the Central Perimeter location of the project tell GlobeSt.com.

Atlanta developers John A. Williams, Robert F. Krause Jr. and J. Richard Stephens Sr. and Jr. are the company’s principals. Krause and Stephens Jr. formed the company in 2003. Niles Bolton Associates Inc. designed the 2.5-acre community off Ashford Dunwoody Road and Perimeter Center East, adjacent to the Park Place specialty retail center and condo development and within walking distance of the 1.48-million-sf Perimeter Mall in Fulton County. The newly completed Park Place was the team’s first venture.