One of two groups named as finalists to develop a $400 million mixed-use project next to the new Braves stadium in Cobb County has bowed out, two people with knowledge of the situation said Thursday.
But it wasn’t clear — and the Braves wouldn’t say — if that means the other group will get the job or if the search for a lead developer will have to start over.
The Braves have already missed a self-imposed February deadline to pick a development team for the entertainment complex and a mid-March target for having that group under contract.
Braves executives did not respond to interview requests, but the team issued an upbeat statement about the progress the club has made thus far in naming a stadium architect, master planner and overall project manager. The statement did not acknowledge the departure of one of the finalist groups to develop the entertainment portion or say where the search stands.
An Atlanta-led team of North American Properties, Hines Interests and Anschutz Entertainment Group is no longer involved in the project, the two people told The Atlanta Journal-Constitution, though they did not know why. Representatives for the development team declined comment.
“As we continue to make progress, we are even more optimistic and confident to bring both a world-class ballpark and a vibrant mixed-use development to Braves fans and the community,” the Braves statement said. “We have been dedicated to finding the best partners for the long term success of this project. “
The statement added, “We are committed to our detailed process as we evaluate potential developers for the mixed-use portion of this project and are excited about the progress we have made thus far.”
A spokesman for the other finalist development team, headlined by prolific metro Atlanta developers Fuqua Development and Pope & Land Enterprises, declined to comment.
A developer generally arranges the financing of a real estate deal and provides the vision and operational control of a project from start to finish. Developers also typically market a project and select the tenants in the complex.
In December, the Braves issued a request for qualifications from dozens of local and national developers. That document included a schedule that called for the Braves to pick a development team by Feb. 24 and execute a partnership agreement by March 14.
The Braves last fall announced plans to build a 41,000-seat stadium and a mammoth mixed-use complex near Cumberland Mall, with both slated to open in time for the 2017 baseball season. The Braves have said they envision the complex including shops, restaurants, bars, residences, offices and hotels.
The mixed-use development is a crucial part of the Braves’ plans — both as a potential megawatt revenue stream and as a source of year-round vitality at the ballpark. The lack of amenities around their current home at Turner Field and the Braves’ inability to control the land around it were among the reasons the team cited in announcing plans to leave downtown Atlanta.
Other leading players in the Cobb stadium project are in place. The Braves previously hired Kansas City-based architecture firm Populous to design the stadium, Los Angeles-based firm The Jerde Partnership as master planner of the overall development and real-estate advisory firm JLL (formerly known as Jones Lang LaSalle) as project manager.
Populous is the most prolific designer of Major League Baseball stadiums, accounting for 13 of the past 14 to open and 19 of the 30 currently in use.
Jerde, founded by architect Jon Jerde in 1977 with a design philosophy called “placemaking,” has more than 100 projects open, according to the firm’s website. The firm worked on plans for the 1984 Olympics in Los Angeles and a variety of mixed-use developments around the world.
Populous architect Earl Santee, who is one of the firm’s founders and senior principals, said in an interview last week that the Braves stadium is a unique and exciting challenge because of the team’s plan to open the ballpark simultaneously with a mixed-use development.
“Honestly, it hasn’t been done before,” Santee said. “It’s like designing a community at one time.”
Populous’ agreement with the Braves doesn’t include designing the mixed-use development, but the firm must create a ballpark that works with the rest of the project.
Santee said Populous is almost finished with an initial phase aimed at “understanding the (team’s) needs and wants in the building,” and is now working on design concepts.
The Braves have never publicly acknowledged development firms on its short-list of candidates, but the AJC first reported in February that the ball club was down to two groups.
The remaining team includes: Fuqua Development, co-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; and Pope & Land Enterprises, a partner in 3630 Peachtree, a Buckhead office tower topped by Ritz-Carlton-branded condos, and a major player in suburban office development.
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