Dive Brief:
- Construction crews working on the $672 million mixed-use SunTrust Park — the future home of the Atlanta Braves — have completed all steelwork and held their "topping out" ceremony this week, according to the Atlanta Business Chronicle reported.
- The Cobb County, GA, ballpark, scheduled to open in 2017, involved 140 ironworkers and "thousands of construction workers" installing 6,800 tons of steel framework — 50 miles long if laid end to end. Officials said they expect the project to be delivered on time and in budget.
- Cobb Commission Chairman Tim Lee, who spearheaded the drive to bring the Braves to Cobb County from their current home at Turner Field in Atlanta's Fulton County, said SunTrust Park will bring in enough revenue for county schools over the next 10 years, approximately $120 million, to pay for 290 new teachers.
Dive Insight:
American Builders — a joint venture between Brasfield & Gorrie, Mortenson Construction, Barton Malow Company and New South Construction — is serving the construction manager at risk for the development. Braves Chairman and CEO Terry McGuirk called the stadium project "a tipping point" for Cobb County, as he, Lee and other Braves and local officials gathered for the field's topping out ceremony, which saw construction crews place a flag and a small ash tree on top of the final beam.
Cobb County is providing 45% of the financing for the new facility with 30-year revenue bonds and will own it when completed. In addition, the facility, according to third-party reports, will be the "most technologically advanced mixed-use development in the U.S.," wired for Wi-Fi and digital display. In addition to the stadium, it will include a shopping and entertainment district.
The Braves project is just one of several new sports venue developments that incorporate a mixed-use component. For example, the Texas Rangers recently announced that their new $1 billion ballpark in Arlington, TX, will include a 7-acre, $200 million mixed-use development called Texas Live! The development's courtyard, in addition to providing a variety of shopping and dining options, will give guests a view of game play on the new stadium’s field. The complex will also include a hotel and convention center.
In addition, the Los Angeles Football Club's $250 million, 15-acre stadium complex will include retail, office and conference space, as well as a soccer museum. The San Diego Chargers are planning a new $1.8 billion stadium and convention center development as well.
