75,000-square-foot project is slated to break ground February 2012.
The College Football Hall of Fame’s relocation to Atlanta from the city of South Bend, Ind. was announced in September 2009 but construction still hasn’t began. So what’s the hold up?
AJC’s Tim Tucker interviewed Gary Stokan, president and CEO of Atlanta Hall Management (which will build and eventually operate the hall of fame) to get an update on the hall’s progress.
The hall is scheduled to break ground in February 2012 and is should be open to the public fall 2013, Stokan told the AJC.
The project’s delay has primarily resulted from the “shift in preferred sites and a swelling of the project from a 50,000-square-foot, $50-million facility to a 75,000-square-foot, $82-million facility.”
Only $33 million in commitments have been secured out of the needed $82 million. The financial plan calls for seeking investors to raise $15 million with the addition of a hefty $34 million bank loan to reach the $82 million mark.
That AND leases with the Georgia World Congress Center have not been completed or approved, the bank financing package is not in place and either or the design plans.
Click here to read the rest of the AJC’s thorough interview. We’ve also got the latest project renderings here.
