Guaranteed Maximum Price set for Braves’ SunTrust Park
The Atlanta Braves and construction manager American Builders 2017 have agreed upon a Guaranteed Maximum Price of $450 million to build SunTrust Park.
The so-called GMP is not the entire project cost. Rather, it just incorporates the hard construction costs — things like concrete, steel, labor, plumbing and electrical. It does not include soft costs, or things such as fees for attorneys, architects or the construction manager.
The stadium has a $622 million budget, although it allows for the Braves to increase it by $50 million at the teams’ discretion. Braves officials have said that may be necessary to provide more parking.
The GMP is security for the team. Any costs above the GMP are covered by the construction manager, unless they result from changes to the stadium requested by the team or the county. In that case, the party requesting the change would have to cover the incremental cost.
About the Author
Dan Klepal is editor of the local government team, supervising nine reporters covering county and municipal governments and metro Atlanta. Klepal came to the AJC in 2012, after a long career covering city halls in Cincinnati and Louisville, Ky. He has covered Gwinnett and Cobb counties before spending three years on the investigative team.
