The new Atlanta Braves baseball stadium project will dramatically transform the Cumberland/Galleria area of Northwest Atlanta.
The club’s announcement in November 2013 was a surprise to fans — the purchase of land in Cobb County was one of the most closely held real estate secrets in the city. Cushman & Wakefield represented the seller in this historic transaction, and we have since developed this overview of the new home of the Braves. The goal is to help our clients learn more about this exciting new public/private development — and more importantly, what it means for businesses in the surrounding area and throughout metro Atlanta.
Cobb County’s share of the estimated $672 million project budget is 45%, or $300 million. Much of this cost will be covered by the existing tax base and assessments in place for commercial property owners located in the existing Cumberland Community Improvement District. These landlords are already paying an additional 5 mills to fund infrastructure improvements in the Cumberland/Galleria area.
Source : Cushman & Wakefield