Estimated cost of park over Ga. 400 released

New pictures of proposed Buckhead Park

ATLANTA -- Members of the Buckhead community are starting to learn more about a proposed park planned for construction over one of the city's main traffic arteries - Georgia Highway 400.

BuckheadView.com reports that the meeting is scheduled to begin at 5:30 p.m. at the Buckhead Theatre with the goal of unveiling the design and vision concept.

However, the architecture firm released new information Wednesday ahead of the meeting that revealed the cost of the major project.

The documentation shows that cost will range between $195 million and $245 million. This cost will include both park construction and structure construction costs.

This money is expected to come from the Federal Transit Administration and the U.S. Department of Transportation as well as state agencies such as the Georgia Department of Transportation, Georgia State Road and Tollway Authority and the Georgia Transportation Infrastructure Bank.  

The plan also calls for money from MARTA and hopes ot secure funds from private sources such as Special Services District, Buckhead Community Improvement District and philanthropic contributions from foundations, corporations and individuals.

Once the park is complete, it is expected to take $1.75 million to $2 million a year to operate the park which it hopes to make back through revenue-generating options such as use of leasable park concessions space, event fees, sponsorships and paid events.

The project was first announced in 2015 under the supervision of Rogers Partners Architects and Urban Designers.

BuckheadView reports that the proposed park would stretch between the Buckhead MARTA rail station on Peachtree Road and the Lenox Loop road.  The park would also cover the MARTA rail tracks and station as well as GA 400.

In documentation released by the design firm, officials said the concept study has been divided into three phases - the program and cost phase, concept and funding phase and the documentation and recommendations phase.

All told, the three phases of the initial study are expected to take about a year.

(© 2016 WXIA)


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