Braves To Pay $15M For Additional 25 Acres Near New Cobb County Ballpark Site
Braves officials said that the team is in the "process of completing the purchase of an additional 25 acres of land in the Cumberland area of Cobb County" for about $15M, according to Klepal & Tucker of the ATLANTA JOURNAL-CONSTITUTION. The land is "near, but not contiguous with, 57 acres the Braves closed on in January" for $34.2M as the site of their planned ballpark and private, mixed-use development. The additional 25 acres, "consisting of several parcels the team has had the option to buy since last year, will be used for parking and a later phase of development." The Braves will "officially take ownership of the property next week." Jones Lang LaSalle Senior VP Michael Hall, who is managing the project, said that the ballpark will "be a total of 1.1 million square feet, and the site preparation work will cost between" $50-100M. The project timeline shows that "the general contractor will be selected by May 27, site clearing will begin in July, utility relocation and removal will start in September, foundations will begin being poured in October, and stadium construction will commence" in February '15. The Braves are "purchasing the additional land from the same seller" -- Maryland-based real estate firm B.F. Saul Co. When the additional purchase is completed, the Braves will have paid "almost" $50M for "82 acres of undeveloped land" near the intersection of I-75 and I-285 (ATLANTA JOURNAL-CONSTITUTION, 4/25).