Georgia State and a private development team of Atlanta real estate firms Carter and Oakwood Development were named last month by the Atlanta Fulton County Recreation Authority as the winning bidders for Turner Field. The sale of 67 acres south of I-20 includes The Ted along with surrounding parking lots. A final sales agreement is expected to be reached over the next few weeks.
The team had previously unveiled to the AJC its $300 million plan that included converting Turner Field into a football stadium for Georgia State, along with academic facilities and a mixed-use community of private student housing, apartments, single-family residences and retail. Also planned is a 1,500-seat Georgia State baseball field at the former Atlanta-Fulton County Stadium.
Since the announcement, there have been questions about Georgia State’s ability to finance its portion of the $300 million project. Georgia State president Mark Becker says the university is well able to handle the $100 million to $150 million investment, and won’t need state funding or an increase in student fees to do it.
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