The future look of Turner Field as a football stadium for Georgia State University.
Another $22.8 million would be used to purchase the stadium and surrounding parking lots.
The balance of the land slated to become part of the development that would include student and private housing, classrooms and retail space would be bought or leased by Carter.
Most of the $52.8 million approved Wednesday will come from Georgia State’s accumulated savings. That includes $15.5 million in accumulated payments from the school’s bookstore operator and $12 million in rental payments from university tenants and from film production companies, university officials said. It also includes about $10.3 million from student housing payments and other housing revenues and $4 million from parking permit fees.
About $5 million from student tuition payments will be spent on the relocation of the hospital school.
Georgia State University has bought the soon-to-be former home of the Atlanta
Georgia State will also spend about $2 million in fees from current students on the project. Part of athletics and commencement fees, for example, will be reallocated to the Turner Field project because the Georgia State will no longer need to spend that money to rent the Georgia Dome and other facilities for games and commencement, university officials said.
The school does not expect to add or raise student fees or parking permit costs in connection with the project, Senior Vice President for Finance and Administration Jerry Rackliffe said.
“We’re trying to be fiscally conservative and responsible to the state,” he said.
And about $5 million will come from Georgia State’s athletic association and from private donors.