The project to relocate the College Football Hall of Fame to Atlanta is
making significant progress towards realizing the goal of creating a new
immersive and interactive attraction that will celebrate the college
football game day experience in a way never before seen.
“We literally looked at dozens of possible sites to narrow it down to
these two”
Atlanta Hall Management, Inc. the newly formed non-profit created to
oversee the construction and management of the new facility today made
a number of announcements related to its continuing progress.
Weve achieved an incredible amount in planning what will be a highly
entertaining, engaging and memorable attraction, said Gary Stokan,
Atlanta Hall Management and Chick-fil-A Bowl president and CEO. This
new home of college football will be a true celebration of the sport,
evoking all the emotions of the game day experience.
First among those was the selection of two finalist sites still under
consideration for the new facility. Both sites are located in downtown
Atlanta in close proximity to Centennial Olympic Park and the citys
core of museums and attractions, including the Georgia Aquarium and the
World of Coca-Cola.
The first finalist site, owned by InterPark, encompasses 34,000 square
feet and is located at the corner of Harris St. and Centennial Olympic
Park Drive. The site is currently being used as a parking lot.
The second finalist site, owned by the Georgia World Congress Center
Authority, is a 2.7-acre parking lot adjacent to Hall A of the Georgia
World Congress Center convention complex, one-half block south of
Centennial Olympic Park.
We literally looked at dozens of possible sites to narrow it down to
these two, Stokan said. Each site has its unique benefits and both
will offer exciting opportunities for the grand opening of the new
College Football Hall of Fame in March 2013.
Atlanta Hall Management (AHM) is continuing to vet the two sites and is
expected to make a final selection later this year with construction of
the 50,000 square-foot, $50 million facility expected to be completed in
March 2013.
AHMs final agreement with the National Football Foundation, which was
signed in July, provides an official license and empowers AHM to oversee
all aspects of the project and provides rights to use the name College
Football Hall of Fame.
We couldnt be more pleased with the amount of progress our partners in
Atlanta have achieved, said Steve Hatchell, National Football
Foundation president and CEO. Together, we have assembled a team of
experts in every discipline necessary to deliver on the vision we all
share for the new College Football Hall of Fame.
Fundraising efforts continue to progress ahead of expectations. AHM
announced that $31.5 million of the estimated $50 million has already
been committed to the project.
Current financial commitments include $10 million in general obligation
bonds from the State of Georgia, $5 million from the Chick-fil-A Bowl,
$5 million from Chick-fil-A, Inc., $2.5 million from Coca-Cola, $1
million from the City of Atlantas ADA Economic Development Fund and up
to $8 million in cash netting from $25 million in new market tax credits
through the Atlanta Development Authority.
With the funding currently in place, our goal to open the new College
Football Hall of Fame is off to an incredibly positive start. We havent
even gone into the marketplace with our sponsorship packages yet,
Stokan said. The reality is that this will be a very attractive and
dynamic asset for companies looking for a solid return on their
investment.
In addition to its cash commitment, Atlanta-based Coca-Cola has also
committed several million dollars in marketing assets including Web,
digital media and cross-promotional activities.
Chick-fil-A was the first company to commit as a corporate partner in
the project, adding the Hall to its current college football
sponsorships anchored by the Chick-fil-A Bowl and the Chick-fil-A
Kickoff Game. We identified the College Football Hall of Fame early as
a cant-miss opportunity, said Steve Robinson, chief marketing
officer for Chick-fil-A. It fits perfectly into our portfolio of
college sports properties because college fans have the high level of
passion and loyalty were looking for.
With the construction phase of the project expected to begin in August
2011, AHM disclosed its development team consisting of architects, real
estate developer/program managers and exhibit designers.
TVS Design of Atlanta will serve as lead architects as a part of a joint
venture with Turner Associates of Atlanta. Cousins Properties and Gude
Management, another Atlanta-based joint venture, will perform the roles
of developer and program manager. Gallagher and Associates of Washington
D.C. will design the exhibit experience and work closely with TVS Design
and Turner Associates to achieve an integrated look and feel with the
building architecture.
During the approximate two-year construction process, the College
Football Hall of Fame project will generate an estimated $91 million in
economic impact for Georgia, while creating an estimated 884 jobs in
metro Atlanta and will generate an estimated $4.9 million in state taxes
for Georgia. The construction phase is also expected to generate $1.8
million in city tax revenue for Atlanta a study commissioned by Central
Atlanta Progress stated.
This will be a huge financial windfall for Atlanta and Georgia at a
time when no one else is creating jobs, Stokan said. It will also
provide a new tax revenue stream at a time when state sales tax revenues
have declined.
The College Football Hall of Fame relocation project was originally
spearheaded by the Chick-fil-A Bowl, in partnership with the National
Football Foundation. Representatives from the two organizations first
announced plans to relocate the Hall to Atlanta from its current home in
South Bend, Ind. last September.
Source: Business Wire