![]() “This is the first stake in the ground in transforming the critical corridor,” Reed said. Reed said it’s part of a plan to connect the sports venues to popular tourist attractions around Centennial Olympic Park, as well as to one of the city’s biggest development flops, Underground Atlanta. There have been talks about turning the area, known as “the gulch,” into a mixed-used development much like the highly successful LA Live complex next to Staples Center in Los Angeles. Reed said the renovation was part of a long-range plan to transform an unsightly tract of downtown adjacent to the arena and the new $1.4 billion Mercedes-Benz Stadium, a retractable-roof facility set to open next year as home to the NFL Falcons and a Major League Soccer expansion team, Atlanta United. ![]() “Today’s announcement with the mayor is a significant step toward this goal, and we look forward to this exciting transformation that will ensure that we provide the best fan experience possible now and for the next 30 years.” “We knew that a key part of producing a winning team, providing a superior fan experience and being a civic asset to the city of Atlanta required a renovation of our arena and a meaningful improvement to the downtown area of this city,” Ressler said. ![]() Ressler said all along that he preferred to remain downtown rather than pursue a new facility, as long as Philips Arena was upgraded. Tony Ressler wound up leading a group that purchased the Hawks and operating rights to the arena. Mayor Kasim Reed had pledged to contribute to an arena renovation when the Hawks were in the process of being sold by former controlling owner Bruce Levenson, who gave up the team after revealing that he sent a racially insensitive email. The hockey team moved to Winnipeg in 2011. Philips Arena originally was built to host both the NBA’s Hawks and the NHL’s Atlanta Thrashers. There will be new amenities, a variety of different-size suites, improved sightlines for basketball, a state-of-the-art video system, and connected concourses throughout the 17-year-old facility. The city will contribute $142.5 million toward the project, which will most noticeably alter the look of the luxury boxes stacked on one side of the arena. ATLANTA (AP) - The Atlanta Hawks are planning a $192.5 million renovation of Philips Arena, with the city providing the bulk of the funding.Īs part of the deal announced Tuesday, the Hawks agreed to an 18-year lease extension to remain at the city-owned arena through 2046. ![]()
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