11/20/2013 11:59 P.M. ET
Braves plan $400M entertainment district
Enhancement to new ballpark adds year-round draw to Cobb County
By Mark Bowman / MLB.com
ATLANTA -- When the Braves announced they will be leaving Turner Field after the 2016 season, they expressed excitement about the many different entertainment options that will be part of the mixed-use development that will surround their new stadium in Cobb County.
The Braves have released plans for the $400 million entertainment district, which will be funded solely by the cub and private partners. This area around the stadium will include between 700,000 and 1 million square feet of retail, restaurant, residential, hotel and office space.
As the Braves plan the development of this district, they view it as an area that will enhance the fan experience and create a positive economic impact for Cobb County through the generation of additional sales and property-tax revenues.
Along with enhancing the entertainment options that are available in the Cobb Galleria area 365 days a year, this area will be designed to create a community atmosphere for those individuals who choose to take advantage of the residential options.
The development will include street-oriented and neighborhood-serving retail, parks and green space, which will be designed to preserve existing terrain and habitat for public use.
The Braves project the investment into Cobb County will yield annual revenues of $6 million in property taxes and more than $3 million for the school district. Projections also call for annual revenues of $800,000 to the Cumberland Improvement District and $480,000 to the Cumberland Special Service District tax, both of which will go toward the county's bond for the stadium.
Mark Bowman is a reporter for MLB.com. This story was not subject to the approval of Major League Baseball or its clubs.