Mayor Reed Announces $192.5M Philips Arena Redesign
Lisa Hagen / WABE
The home of the Hawks is getting an upgrade. Today Atlanta Mayor Kasim Reed announced the city will contribute $142.5 million to redesign Philips Arena.
The Hawks will pay $50 million.
“We’re so grateful to the team and Steve Koonin, their CEO, for the exemplary way they’ve been handling the Hawks organization, and it’s not too bad that they’re undefeated right now. So I wanted to get this announcement out,” said Reed, cracking himself up. “I did the Falcons when they were almost undefeated too.”
Reed says $110 million of the city’s portion is to come from an extension of the car rental tax. The rest is from the sale of Turner Field, scheduled to close by Dec. 31, and other city real estate.
“Trying to win a championship is a commitment of this franchise, but also creating and improving the fan experience is critically important to this franchise, and to this city and to our mayor,” said Hawks majority owner Tony Ressler.
The renovations will take place over the next two summers, so as not to disrupt Hawks games. The redesign will include a change to the stacked skyboxes. The new suites will wrap around the bowl in two layers.
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