ATLANTA–The Board of Regents of the University System of Georgia today (Nov. 9) approved Georgia State University’s purchase of Turner Field from the Georgia State Foundation.
Atlanta Mayor Kasim Reed announced in August the Fulton County Recreation Authority’s sale of Turner Field and its surrounding parcels to the Georgia State Foundation. The Board approved Georgia State University’s purchase of 38 acres of the 68-acre site for $22.8 million. The stadium will be purchased and repurposed with a combination of existing institutional funds from Georgia State and fundraising from private sources. No taxpayer dollars or new student fees will be used in the purchase of the former Turner Field site.
“Acquiring the former Turner Field site presents a unique opportunity for Georgia State University that will help its athletics program continue to grow and positively impact the surrounding area,” said Chancellor Hank Huckaby. “Georgia State University continues to advance as a leading urban research institution and making this site and facility part of Georgia State will help enhance the campus experience for students.”
The project will allow Georgia State to bring more athletics, including football and baseball, to a central downtown Atlanta location. The repurposed stadium will also house academic programs and host a variety of events close to its Atlanta campus to better serve students.
“We are excited to begin the next phase of this transformational project for the university and the city,” said Mark P. Becker, president of Georgia State University. “It is rewarding to see our vision begin to take shape.”
With today’s approval by the Board, Georgia State can move forward with its plan to renovate and reuse the Turner Field site. Georgia State is expected to take ownership of the property on January 1, 2017, and to begin construction shortly thereafter.
The remaining acres will be sold and leased to Georgia State’s development partner Carter and Associates, which will develop private housing, retail and corporate facilities around the stadium.