Turner Field Project Named Best Real Estate Deal In Atlanta Business Chronicle’s Real Estate Awards
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published on March 3, 2017
ATLANTA–The Atlanta Business Chronicle has named the Turner Field redevelopment project of Georgia State University, along with the Carter, Oakwood Development and Healey Weatherholtz joint venture, as the Best Overall Deal in its Best in Atlanta Real Estate Awards.
The university and partners in the venture have planned for a mix of housing, retail, and athletic and academic space on the 68-acre site, as well as the conversion of the stadium into the new home for Georgia State’s football team. Georgia State and the Carter-led team finalized acquisition of the property in January.
“The project is another terrific opportunity to demonstrate our ability to make transformational changes that are mutually beneficial for our university and the great city of Atlanta,” said Georgia State President Mark Becker.
Under the ownership structure, Georgia State controls 38 acres, including the stadium and the Blue parking lot, formerly the site of Atlanta-Fulton County Stadium. The Carter-led joint venture purchased 16 acres and is leasing an additional 13.5 acres from Georgia State.
The university is working this spring to convert Turner Field for football, and a future phase of Georgia State’s part of the redevelopment includes a new baseball park on the footprint of the old Atlanta-Fulton County Stadium.
The Carter-led private development team is planning for private student housing, as well as multi-family residential and retail development.
“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 the city for generations to come,” Carter President Scott Taylor said. “We view this redevelopment as a transformational opportunity for the southeastern part of our city.”
For more about the project, visit stadium.gsu.edu.