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.
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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.”
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Credit: undefined
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.
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