Atlanta Business Chronicle | Turner Field redevelopment set to transform Atlanta
A redevelopment project poised to be transformational for downtown Atlanta has been chosen the deal of the year, or Best Overall Deal, in the 2017 Best in Atlanta Real Estate Awards.
Georgia State University and Carter's work in 2016 to significantly advance their plan to redevelop Turner Field as a mix of athletic facilities and uses, along with academic space, housing and retail, culminated in a Jan. 5, 2017, deal that finalized the acquisition of 68 acres south of downtown including "the Ted," the former home of the Atlanta Braves, and the Blue Lot, a parking lot where another former home of the Atlanta Braves, and the Blue Lot, a parking lot where another former Braves home, Atlanta-Fulton County Stadium, once stood. The buyers were Georgia State University, along with a joint venture comprised of Carter, Oakwood Development and Healey Weatherholtz Properties. The seller was the Atlanta-Fulton County Recreation Authority.
Although much remains to be done, many believe the deal ultimately could transfigure the city of Atlanta.
At the time of the announcement of the deal, GSU's conversion of Turner Field was scheduled to begin in February. The development team announced that it would immediately commence planning for its portion of the project.
"The biggest challenges we are attacking right now are transit connectivity, along with planning for the appropriate infrastructure to support a dynamic mixed-use community," Carter President Scott Taylor said.
Bringing light rail down Hank Aaron Drive and along Ralph David Abernathy/Georgia Avenue to Zoo Atlanta are the highest priorities, according to Taylor.
"We are working collaboratively with the community, the city and elected officials to advocate for transportation and infrastructure improvements to positively change this part of our city for generations to come," he said.
"We view this redevelopment as a transformational opportunity for the southeastern part of our city," said Taylor. "It will not be easy - but nothing worthwhile ever is."
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By Martin Sinderman, Contributing Writer - Atlanta Business Chronicle
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