The Atlanta Braves released the following information regarding their move to Cobb County and the decision to build a new stadium:
- The Braves’ lease at Turner Field, which is owned by the City of Atlanta and the Atlanta-Fulton County Recreation Authority, ends at the conclusion of 2016. The Braves have decided to not extend the lease beyond its expiration.
- Since the facility opened in 1997, the Braves have invested nearly $125 million in Turner Field.
- The facility needs $150 million in infrastructure work (replacing the seats, repairing and upgrading lighting, etc.), none of which would significantly enhance the fan experience. If the Braves were to pay for additional projects focused on improving the fan experience, the additional costs could exceed $200 million.
- Even with a significant capital investment in Turner Field, there are several issues that cannot be overcome – lack of consistent mass transit to the facility, lack of adequate parking and lack of access to major roadways.
- The Braves also do not have control over the development of the area surrounding Turner Field.
New Facility Information:
- The Atlanta Braves have secured property to build a world-?class Major League Baseball stadium and integrated mixed-?use development on 60 acres at the northwest intersection of I-75 and I-285.
- The property has an Atlanta address and is located in Cobb County with easy access to I-75, I-285, U.S. 41/Cobb Parkway and a variety of other transportation options.
- The new stadium will be located near the geographic center of the Braves’ fan base.
- The stadium will occupy a portion of the site, with the balance being used for parking, a mixed-use development and green space.
- The estimated cost of the stadium, parking and related infrastructure is roughly $672 million. The Braves will be a significant investor, along with Cobb County, in the project. In addition, the Braves will cover all cost overruns for the construction of the stadium.
- During construction of the stadium, more than 5,227 jobs will be supported, with a total payroll of more than $235 million.
- The project is scheduled to start in the second half of 2014 and will be completed by Opening Day 2017.
- The Braves will develop the remaining parcels surrounding the stadium, crafting a world-class entertainment district featuring retail, restaurants and hotel options.
- Plans call for the stadium to be owned by the Cobb-Marietta Coliseum and Exhibit Hall Authority, which also owns the Cobb Galleria Centre and Cobb Energy Performing Arts Centre
For more information, visit www.HomeoftheBraves.com.