By ARYAN JAVAN
The new Braves stadium is scheduled to be open for the 2017 Major League Baseball season. With construction under way, the timeline seems like it will be met. The introduction of the new stadium will bring restaurateurs and bar owners to the new location for the prospect of prime real estate.
Cobb County will be the new home for the Atlanta Braves.
“It’s definitely prime real estate, but the owners would have to look more closely at the financial economics to determine whether they open at or near the park,” said Randy Lambeth, managing director, Capital Markets.
There are many financial risks owners are taking by building a facility near the new stadium. Transportation is still lacking in the area.
According to founder of Jay Christopher’s Restaurants, Jeff McCann, one may see success early, but he does not see the long term investment working out.
“Our restaurant depends upon regular clientele and that area will fluctuate based on games and events,” said McCann.
The fear is longevity.
To be a successful establishment, the place needs to become an establishment. For example, a Varsity-type institution has become a household name. To build a restaurant now would require serious upkeep and commitment.
“Yes. Any establishment surrounding a stadium must consider how to operate without a marketed event,” said David Hanson, general manager of Magnolia’s Bar in Athens, Georgia.
“The best example would be Wrigleyville in Chicago. Many of the bars and restaurants thrive because of the spirited environment.”
It is interesting to see the ideas and perspective of others. It really does seem like a boom or bust scenario.