Cobb County Approves Home of the Braves
- Dec 02, 2013
The Cobb County Commission gave a green light to the Atlanta Braves stadium plans, signing a Memorandum of Understanding with the team at its meeting on Tuesday, Nov. 26. The arena is only the jewel in the crown as it will be surrounded by a mixed-use development including between 700,000 and 1 million square feet of retail, restaurant, residential, hotel and office space – all privately funded 100 percent by the Braves, and other private partners.
The team took on 55 percent of the total costs, around $372 million in both upfront costs and yearly payments. The rest will be supported by local contributions.
“We are grateful to the citizens of Cobb County and the leadership in the community who have worked tirelessly to bring this to fruition,” says Atlanta Braves President, John Schuerholz. “I truly believe that this partnership will yield what will become one of the finest baseball and entertainment facilities in the country.”
The design and construction will be managed by the Braves organization. Their responsibility extends to eventual cost overruns during construction, and also for all operating expenses of the stadium. Cobb County will be partially responsible for the Stadium’s capital maintenance expenses. The arena will be owned by the Cobb-Marietta Coliseum and Exhibit Hall Authority, current owner of the Cobb Galleria Centre and Cobb Energy Performing Arts Centre.
The agreement with the county facilitates the new baseball stadium to open its gates by the 2017 season with fieldwork starting in the second half of next year. The Braves’ lease at Turner Field, which is owned by the City of Atlanta, Fulton County and the Atlanta-Fulton County Recreation Authority, ends at the conclusion of 2016. The development is expected to bring more than 5,200 jobs to Atlanta during the construction and a staff of around 3,000 will also be needed after delivery. More than $235 million has been allocated for temporary jobs and annual earnings of the organization’s permanent staff will total around $35.8 million.
The stadium and development near Cumberland Mall will be easily accessible on the Perimeter, Interstate 75, as well as Cobb Parkway.
Photo credits: Atlanta Braves