The Atlanta Hawks and partners are in talks to take control of parcels around Philips Arena for future development, people familiar with the matter told The Atlanta Journal-Constitution.
Word of land negotiations, said to be advanced but not yet final, come just days after the Atlanta City Council approved a major piece of public financing to overhaul Philips Arena. On Monday, the council approved a new rental car tax agreement with the city of College Park with part of the proceeds going to a nearly $200 million renovation of the downtown arena.
Little is known about the property discussions and representatives for Mayor Kasim Reed and the Hawks declined to comment. But the Hawks are said to have interest in a mixed-use development similar to the Braves’ project at the new SunTrust Park.
After the council voted to approve a rental car agreement with College Park, Reed said “in the next 10 to 15 days we should be coming forward with a proposal for an additional billion dollars in investment as a result of the decision you all made today.”
It was unclear if that was a direct reference to the Hawks.
In November, when Reed and the Hawks announced an agreement in principle on a stadium renovation and lease extension deal, Mayor Kasim Reed and Hawks lead owner Tony Ressler said the project could help fuel revitalization of the Gulch area.
Subscribers get access to more. Click here to read more about the Hawks’ interest in a potential mixed-use development outside Philips Arena.
Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers.
Your subscription to the Atlanta Journal-Constitution funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism.