The title of the song refers to an architectural/city planning model whereby towns are designed from scratch and built in a very short period of time. This distinguishes a new town from a normal city that grows and evolves with time. A challenging and heroic enterprise for an urban planner a new town is always a reflection of a particular period in history and its related ambitions.
I grew up in a new town. The Slits released the song Newtown in 1977, I was 14.