Financing is not yet known, but Becker said increasing student fees isn’t expected to be part of the financial plan.
Becker and officials with Carter and Atlanta-based developer Columbia Residential said they came forward with their plans Wednesday because they had done as much due diligence as they could and wanted surrounding neighborhoods, the city and the city-county authority that owns The Ted to know of their interest. The school and development team also wants to seek guidance from surrounding neighborhoods and determine the next steps in the process to potentially acquire the site.
The project also would create a new baseball stadium for Georgia State in the footprint of the former Atlanta-Fulton County Stadium and preserve the Hank Aaron “wall” that honors The Hammer’s 715th home run.
We want to preserve “the history and tradition of that wall,” said Carter President Scott Taylor, whose group approached Georgia State several months ago. The site also would preserve the Olympic cauldron. He said the team wants to integrate the development into surrounding neighborhoods.
For Georgia State, the project would add potentially 1,200 beds for students and preserve and expand much-needed parking. For the surrounding communities, the project will add fresh retail offerings, restaurants, likely a grocery store, new rental and for-sale housing options and jobs, developers said.
Reed has said he wants the Braves, which plan to play ball in their new Cobb home by the start of the 2017 season, to notify the city whether it intends to exercise options to extend its lease, because the city is ready to act on development proposals.
The lease allows the Braves until Jan. 1, 2016, to officially give notice to the Atlanta-Fulton County Recreation Authority of whether it will exercise its first five-year option.
The Braves’ Turner Field lease expires Dec. 31, 2016. Beyond that, the lease gives the Braves options to extend for four successive five-year periods.
It is unclear what the timeline might be for the authority to sell the property. But Becker said if Georgia State and the development team is successful, they would like to break ground by January 2017.
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