A trio of nationally respected developers will partner with the Atlanta Braves organization to develop the 74-acre, $400-million mixed-use development that will be integrated with the new ballpark the franchise is developing in partnership with the Cobb-Marietta Coliseum and Exhibit Hall Authority.
The organization announced today that three local companies - Fuqua Development, Pope & Land Enterprises, and Pollack Shores Real Estate Group - will be its partners in developing the project, which includes up to 630,000 square feet of class A office space, 500,000 square feet of upscale retail, 450 hotel rooms and 500 residences. The Braves will retain a majority ownership stake in the development and will continue to guide the development process in conjunction with its partners.
"In just eight months, we have made tremendous progress on our ballpark and mixed-use project," said Atlanta Braves Chairman and CEO Terry McGuirk. "We're thrilled to announce a partnership that reflects our local roots and global brand as we move forward on the mixed-use portion of the project."
Fuqua Development will partner with the Braves on the retail portion of the project. Jeff Fuqua and his partners have made a tremendous imprint on metro Atlanta, developing many of Atlanta's most notable urban retail mixed-use developments, including Town Brookhaven, Perimeter Place, The Prado, Lindbergh Plaza, Lenox Marketplace, Peachtree Corners Market and the Edgewood Retail District. The firm has deep relationships with local and national retail tenants and experience working on challenging sites.
"Anchored by the excitement and prestige of the Atlanta Braves, this unique project is already the buzz of the industry and is quickly becoming, even before its official launch, an irresistible magnet for first-to-market retailers, major restaurants and entertainment concepts," said Jeff Fuqua, Principal, Fuqua 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. We obviously expect that to intensify as we move forward with our retail development plans. We think this is certain to become the most exciting mixed-use development in the Southeastern United States."
Pope & Land will partner with the Braves on the office component of the development. The 35-year-old company, with roots in Atlanta and Cobb County, is responsible for developing some of the defining office buildings and developments in Atlanta, including Atlantic Center Plaza, 3630 Peachtree and others. The company specializes in developing mixed-use real estate projects and also offers third-party leasing and management services.
"We are proud to have been selected as the team that will co-develop the exciting mixed-use community adjacent to the new Braves ballpark," said Jay Land, Executive Vice President and Partner at Pope & Land Enterprises. "Along with our partners, we will coordinate the mix of uses and deliver an exciting, new office building centrally located between the ballpark and the retail/entertainment district. This partnership is going to make a one-of-a-kind, fully integrated destination."
Pollack Shores Real Estate Group will partner with the Braves on the residential portion of the project. One of the leading multifamily developers in the region, Atlanta-based Pollack Shores was founded in 2006 and has an investment portfolio worth over $1 billion. The company specializes in creating luxury apartment communities with retail and restaurants close by and amenities including resort style pools, fitness centers and high-end club rooms. In Atlanta, Pollack Shores is completing several developments including Citizen at Perimeter, Steelworks next to Atlantic Station and The Jane at Colonial Homes, a landmark rental community in Atlanta's Buckhead neighborhood next to the Atlanta Beltline and Bobby Jones Golf Course.
"As a long standing Atlanta-based firm, we are excited to partner with the Braves, and we look forward to creating a world class mixed-use destination," said Marc Pollack, Chairman and CEO of Pollack Shores.
Jones Lang LaSalle, which has served as the Braves' real estate and development consultant throughout this 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 aspect of the development. The organization expects to name development project architects and an entertainment partner in the coming weeks.
"From the day we announced this project, we have talked about the role that the adjoining mixed-use development will play in the overall success of our ballpark project and its impact on the local community," added McGuirk of the Braves. "This new development will be a vibrant district on game days, as well as an exciting destination for people in the region throughout the rest of the year."
Construction on the new stadium is scheduled to start later this year and will be completed by Opening Day 2017. The goal of the mixed-use development will be to open Phase I, or a substantial portion of it, by spring of 2017 as well.