Thursday, March 12, 2009

Gwinnett's New Stadium Wins Real Estate Award

The new stadium in Gwinnett County where the Gwinnett Braves will open their inaugural season next month has won a Best in Atlanta Real Estate Award from the Atlanta Business Chronicle.

The project topped others in the Mixed-Use/Special-Use category that included the Atlanta Symphony’s Verizon Wireless Amphitheatre at Encore Park in Alpharetta and the $250-million Gateway Center project in College Park.

At a planning retreat in late 2006, Gwinnett District 2 Commissioner Bert Nasuti first proposed bringing minor league baseball to the county to spur economic development and improve quality of life options for area residents. “After a feasibility study in 2007 was favorable, things moved very quickly,” said County Administrator Jock Connell. “When we learned that the Braves wanted to move their AAA team out of Richmond for the 2009 season, we stepped up to the plate and convinced them to move here.”

The Gwinnett Braves team will likely include many promising young players awaiting an opportunity to move up to the major league team. “A chance to watch these guys play in a smaller, close-to-home venue at lower prices is really exciting. It’s great family-friendly entertainment for local sports fans,” said Nasuti.

The Gwinnett Convention and Visitors Bureau (GCVB), operator of the Arena at Gwinnett Center, and Brand Properties LLC, formed a public/private initiative to provide a location and manage design and construction of the stadium.

County commissioners bought 12.3 acres of land for the project and approved construction funding using Gwinnett Development Authority bonds. The Atlanta Business Chronicle cited “potential economic stimulus” as the primary reason for giving this project its top award.

Located near I-85 and the Mall of Georgia, the stadium is already attracting other investments such as the $200-million Village at Gwinnett Stadium by Brand Properties that includes commercial and office space plus hotel and residential uses. “Studies show that the stadium is likely to generate $15 million annually in new direct spending, create about 250 new jobs, add $6.5 million in new personal income and produce $1.3 million in gross tax revenues,” said GCVB board member Richard Tucker.

HKS Architects designed the stadium that Barton Malow Company is building. The official groundbreaking was held in June of last year.

The 10,000-seat stadium is expected to a host a sold-out home opener on April 17 when the Gwinnett Braves will play the Norfolk Tides.

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