Since the Atlanta Braves announced their plans in 2013 to leave downtown Atlanta for the greener pastures of Cobb County, the fate of their current stadium, Turner Field, has been in question. As of last month, that question has been answered: Georgia State University, in joint venture with real estate developers Carter and Oakwood Development, won the bidding process to take over the property. The university plans to convert Turner Field—affectionately known as “the Ted”—into a stadium for its football program.
The final sale agreement has yet to be negotiated, but Georgia State will likely turn the 70-acre site into a $300 million, public/private, mixed-use development that will include student housing, apartments, office space, and retail establishments. Also in the plan is a 1500-seat college baseball field that will incorporate the wall that marks Hank Aaron’s record-breaking 715th home run. The Olympic cauldron—a reminder that Turner Field originally served as the stadium for the Centennial Olympic Games—will be improved and preserved as well, although details about where and how it will be displayed have yet to be divulged.
A commitment to preserve these monuments was a key reason for choosing the Georgia State team over competing bidders. According to an article in the Atlanta Business Chronicle, Keisha Lance Bottoms, executive director of the Atlanta-Fulton County Recreation Authority (AFCRA), said that the development team was selected because of its ability to:
- Renovate or replace Turner Field with a major facility.
- Provide housing, retail and employment opportunities for existing and future residents.
- Incorporate Atlanta’s sports history into redevelopment proposals.
- Complete development within five years.
Only two other, little-known firms, Mercury Youth Organization Inc. and Rita World Pearl Kingdom LLC, submitted bids to develop the property. The bidding process opened in October 2015.
As the Atlanta Journal-Constitution notes, the price of the property—as well as how the university and its partners will finance the purchase of the site and its construction—has yet to be disclosed. The final sale agreement is expected to be negotiated this month. The Georgia Board of Regents must approve both the plan and how the project will be funded. GSU has submitted two alternative proposals for the Turner Field property, one of which would retrofit Turner Field into a football stadium. The other would rebuild portions of Turner Field into living space while constructing two new adjacent stadiums for football and baseball, 11Alive News reports.
Residents of the communities surrounding Turner Field—including Summerhill, Peoplestown, Mechanicsville, Pittsburgh and Grant Park—have repeatedly expressed the desire to have input into the site’s development. In answer to their concerns, AFCRA’s request for proposals (RFP) made clear that the community’s input must be included in the final plan. Specifically, the RFP requires the potential buyer to “demonstrate a commitment to incorporating” recommendations from a pending community development study. Additionally, a Turner Field resident was appointed to AFCRA’s board this summer. Georgia State has publicly pledged to work with local residents as the project moves forward.
If all goes according to the proposed plan, the redevelopment of the Ted should bring national prestige to Georgia State University, which has been expanding rapidly over the last few years. Perhaps more important, though, is the long-term job creation and business expansion the Turner Field project should bring to the surrounding community—an area that has failed to see the revitalization that was promised with the original construction of the Olympic Stadium. Fulfilling that promise will not only benefit the community but also the city itself—by making good on the economic promise of the 1996 Olympics, and by making the best of the Braves’ departure.
Blog contributed by Hansell Roddenbery, Principal with Cresa Atlanta. Hansell has been a tenant representative with Cresa Atlanta since 2002 and during this time has assisted law firms, in addition to the Atlanta Bar Association, Lawyers Club of Atlanta, and the Atlanta Volunteer Lawyers Foundation. For more information on law firm trends, contact Hansell at 404-446-1585 or hroddenbery@cresa.com.
