How will the Atlanta Braves Project Will Impact Atlanta Commercial Real Estate?

It’s not news to anyone in Atlanta that the Atlanta Braves are planning to relocate to a $672 million stadium in the Cumberland area over in Cobb County.

It also appears that the stadium project is moving along smoothly; the Braves recently obtained $300 million in taxpayer funding and is turning to Governor Nathan Deal for more help through tax incentives.

If the project gets underway soon and is completed in 2017 as scheduled, what impact will the development have for Atlanta commercial real estate?

Expect More Foot Traffic in the Cumberland Galleria Area

Commercial and retail opportunities in Cumberland are already developed, with the presence of the Cobb Galleria district, convention center, and shopping malls.

That development, however, could expand significantly if the terms of the stadium project are realized.

Currently, the project calls for an entertainment and shopping complex that should contain retail outlets, restaurants, mixed-use developments, parking, and hotels.

The stadium itself should generate more foot traffic – which will only go up once the rest of the planned developments are completed.  This is very promising for organizations looking for highly-visible commercial space.

Transportation to Northwest Atlanta Should Get Even Better

The new stadium is planned for 60 acres at the 1-75/I-285 intersection.  To improve even further the ease of access that this particular location already provides, the Cobb County Commission is planning on spending nearly a billion dollars on mobility improvements. These improvements – and others to local infrastructure that are already included in the $672 million pricetag – are anticipated to further boost transportation to and within the Cumberland area, which bodes well for commercial real estate located in the vicinity.

It’s an exciting time for Atlanta commercial real estate. The addition of the new stadium and the developments planned will definitely be something to keep an eye on moving forward.

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