|The new mixed-use project will include up to 630,000 square feet of office space, 500,000 square feet of upscale retail, 450 hotel rooms and 500 residences when it opens at the same time as the 41,000-seat ballpark.|
As the Major League Baseball trade deadline expires, the Atlanta Braves have announced a major push forward on their effort to develop a $400-million mixed-use project connected with the new ballpark the franchise is building in Cobb County.
The team announced a trio of developers will partner with the Braves on the 74-acre project: Fuqua Development, Pope & Land Enterprises, and Pollack Shores Real Estate Group. The project includes up to 630,000 square feet of office space, 500,000 square feet of retail, 450 hotel rooms and 500 residences. The Braves will retain a majority ownership stake in the development.
Developer Jeff Fuqua and his partners, who have developed signature Atlanta urban retail mixed-use developments such as Town Brookhaven, Perimeter Place, The Prado and Lindbergh Plaza, will handle the retail portion of the ballpark development.
"We already have received many expressions of interest by potential tenants eager to be part of such an innovative, 365-days-a-year, mixed-used project," Fuqua said in a statement. "We obviously expect that to intensify as we move forward with our retail development plans."
Pope & Land, which has developed Atlantic Center Plaza, 3630 Peachtree and others, will partner with the Braves on the office space. Pollack Shores Real Estate Group oversee the residential portion of the project.
JLL, which has served as the Braves’ real estate and development consultant throughout the project, will remain actively involved with the development group. The Jerde Partnership, which has served as the master planner on the development, will continue to guide the land planning process.
The organization expects to name development project architects and an entertainment partner in the coming weeks.
"In just eight months, we have made tremendous progress on our ballpark and mixed-use project," said Atlanta Braves Chairman and CEO Terry McGuirk.
Construction on the new stadium is scheduled to start later this year and will be completed in time for Opening Day of the 2017 season. The goal is to open the mixed-use portion of the project at the same time.