The Atlanta Braves delivered their pitch to real estate developers Friday, formally opening the search for a partner on a proposed $400 million mixed-use development adjacent to a new Cobb County stadium.
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Upcoming steps on the planned Braves stadium and adjacent mixed-use development in Cobb County:
Mixed-use development: Responses from developers interested in partnering with the Braves on the project are due Dec. 20. The Braves plan to “short-list” three to five candidates by Jan. 10 and reach an agreement with one of them by March 14.
Stadium: Braves officials will hire a lead architect, probably by January. The Braves and Cobb County will begin negotiations on contracts more detailed than the memorandum of understanding signed last week.
Unmatched coverage. Since Cobb County and the Atlanta Braves announced their intention to partner on a new baseball stadium, The Atlanta Journal-Constitution has provided unmatched coverage of Cobb’s decision to pay for nearly half of a $672 million new home for the Braves that will relocate the team from downtown Atlanta.
The Braves vision
What the team hopes to gain by building a $400 million mixed-use development around its new stadium:
- A richer fan experience. The Braves are asking developers for their ideas in developing potentially up to 1 million square feet of building space into shops, restaurants and hotels tied to the stadium.
- A year-round attraction. The Braves hope the development would make the stadium and surrounding businesses a destination for local residents and tourists even when the Braves aren’t playing.
- More revenue. The Braves see the development as a new, lucrative revenue stream. When pursuing such a development for the parking lots surrounding Turner Field, the Braves proposed an arrangement in which they would receive 25 percent of the revenue or a minimum of $10 million per year.