Tuesday, September 11, 2012

Replacing the Georgia Dome could cost $1.2 billion.

The Georgia Dome.

Negotiations between the Atlanta Falcons and Georgia World Congress Center on a new facility to replace the aging Georgia Dome are continuing. The new building would be the future home for the Atlanta Falcons, and presumably that of the SEC Championship Game, Chick-fil-A Bowl, Chick-fil-A Kickoff Game, and other college football and basketball-related events.

While the estimated cost of the proposed project is supposed to be $948 million, Atlanta Mayor Kasim Reed says if improvements to the area around the project were added in, the cost could possibly rise to $1.2 billion.

"Reed did not say the cost of the stadium itself would rise above an architect’s estimate of $948 million — money to be raised by the state and the Falcons. But Reed said a variety of upgrades to sidewalks, roads and other amenities could boost the project price to the larger total.

Reed, who backs the project, also indicated he would be willing to commit some city money to the surrounding improvements - possibly by funding some through an already planned bond issue for road, sidewalk and other work around the city. Atlanta also has $53 million in cash available for economic development projects in the Westside tax allocation district, which includes the stadium district."

The project, if built, would be projected to open in 2017.

(via The Atlanta Journal-Constitution)