CAP Prez: Braves Loss
Central Atlanta Progress' A.J. Robinson likened the surge in Downtown Atlanta development to the flurry seen in the run-up to the 1996 Olympics, as he spoke to our audience of 250 CRE pros during this morning's Future of Downtown Atlanta at the Hyatt Regency. Both private investors and government are involved in some $577M in projects in the area, including the new Atlanta Falcons stadium, the Museum of Civil Rights, and the College Football Hall of Fame.
When asked about the Braves leaving Downtown, A.J. called it a "sad day for the city." But he says that the loss of The Ted has more of a "psychological effect" on the submarket and no real effect. "People aren't clamoring to lease housing units next to the baseball stadium, or at least this baseball stadium," he says. But he does say Jamestown's Ponce City Market redevelopment "will do more for all of you involved in urban real estate than anything else I've talked about," providing the city with a destination location that everyone will want to visit at least once, much like with the Georgia Aquarium. (We'll bring our glove and play catch in the Ponce parking lot if it'll help.)