Despite the fact that is not slated for its grand unveiling until 2017, the new Falcons’ stadium is already being hailed as an architectural marvel. A major feature of this new stadium, and one that is rightfully generating a tremendous amount of buzz, is its oculus roof.
A retractable contraption, it is made up of a panel of eight petals that slide open or shut in less than eight minutes. To get a clearer picture of this, imagine a camera shutter opening and shutting, only bigger – much bigger and perfectly balanced at 30 stories above street level. It was inspired by no less than the Pantheon of ancient Rome.
Any time a project of this magnitude rises in practically any location, the surrounding neighborhood will be affected. However, the new stadium is being built just directly south of the current Georgia Dome – on the northwest corner of the intersection of Northside Drive and Martin Luther King Boulevard.
As such, the area is no stranger to the crowds as well as the vehicular and foot traffic that comes with having a major arena as a next-door neighbor.
The new stadium was not spared the (sometimes heated) rhetoric of NIMBY groups.
Several small businesses in the area, who fear their trade will be swallowed up or squashed by the giant arena, have spoken up as well. But there have been studies that have shown that major sports venues have a positive impact on surrounding real estate property values.
Additionally, the Atlanta Falcons (in cooperation with the Blank Foundation) are committed to making significant investments in the surrounding communities. They have established the Westside Neighborhood Prosperity Fund as well as the Equal Business Opportunity Plan as part of their commitment to the neighborhood that they hope to move into in 2017.
Real Estate Watch
No doubt real estate professionals as well as property owners will continue to monitor the ongoing construction of the Atlanta stadium and the effect it will have on their business and lives.
The new Atlanta stadium will inevitably transform the neighborhood where it rises. It is up to the Atlanta Falcons, their partners, as well as the community to make sure their presence is beneficial to all parties concerned.