Moving forward with plans to build a mixed-use complex adjacent to their new stadium, the Atlanta Braves have selected two finalists from the field of real estate developers seeking to lead the project.
According to three people with direct knowledge of the process, one finalist is a group consisting of an Atlanta-led team of Cincinnati-based North American Properties, Houston-based Hines Interests and Los Angeles-based AEG. The other is a tandem of two Atlanta-based firms, Pope & Land Enterprises and Fuqua Development.
The next step is for the Braves to get detailed proposals from the two groups on developing and financing a 45-acre mix of shops, restaurants, bars, offices, residences and hotels. The team wants the bulk of the Cobb County complex to open along with the stadium in 2017.
The ability to control such a development was a driving factor in the decision to relocate from Turner Field to Cobb.
The Braves said last month that more than a dozen developers or groups of developers responded to a request for qualifications. The firms that form the two finalist groups are well known in real-estate development circles:
- North American Properties took over Atlanta's Atlantic Station during the economic downturn in partnership with CBRE Global Investors and is developing Avalon, a massive mixed-use development at Old Milton Parkway and Ga. 400 in Alpharetta.
- Hines Interests has controlled or built several iconic metro Atlanta properties, including the 1180 Peachtree complex in Midtown and the Ravinia office park near Perimeter Mall.
- AEG directed the development of L.A. Live, a 4 million-square-foot sports, entertainment and residential district in downtown Los Angeles.
- Pope & Land Enterprises was a partner in 3630 Peachtree, a Buckhead office tower topped by Ritz-Carlton-branded condos, and has been a major player in suburban office development and ownership.
- Fuqua Development was founded by Jeff Fuqua, who was an executive at Sembler and spearheaded development of the Edgewood retail district, Town Brookhaven and the Prado in Sandy Springs.
