SBD/April 4, 2014/Facilities

AEG-Led Group Drops Out Of Running For Development Of Braves Mixed-Use Project

Braves officials hope to pick a developer for the complex in the next 30 days
One of two groups named as finalists to develop a $400M mixed-use project next to the new Braves ballpark in Cobb County has "bowed out," according to sources cited by Trubey & Tucker of the ATLANTA JOURNAL-CONSTITUTION. It "wasn’t clear -- and the Braves wouldn’t say -- if that means the other group will get the job or if the search for a lead developer will have to start over." The Braves have "already missed a self-imposed February deadline to pick a development team for the entertainment complex and a mid-March target for having that group under contract." Sources said that an Atlanta-led team of North American Properties, Hines Interests and AEG is "no longer involved in the project," but they "did not know why." The remaining team includes Fuqua Development and Pope & Land Enterprises (ATLANTA JOURNAL-CONSTITUTION, 4/4). In Atlanta, Sams & Saporta cited sources as saying that the Braves "would like to make the decision, ideally in the next 30 days, about who will develop the mixed-use project and entertainment district" (BIZJOURNALS.com, 4/3). Cobb County Commission Chair Tim Lee on Thursday said that if he "were a betting man, he’d bet the Braves franchise would select a consortium that includes Cumberland-based Pope & Land." Lee predicted that the mixed-use development "will look similar to L.A. Live" (MARIETTA DAILY JOURNAL, 4/4).
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