F
orsyth County, a suburb of Atlanta, has approved a $350 million subsidy for a proposed mixed-use development with an 18,500-seat hockey arena. The project, called The Gathering at South Forsyth, spans 100 acres and includes office space, retail, multifamily units, single-family homes, hotels, and other facilities.
The county's contribution is contingent on the National Hockey League (NHL) approving a team for the arena. If the NHL agrees to expand to Atlanta, the county will issue $225 million in bonds to support the development. Without an NHL team, the bond issuance won't happen.
Auto magnate Vernon Krause leads the project and plans to pitch it directly to the NHL. The development is shovel-ready, with a proposed lease term of 49 years for a future Forsyth-based NHL team, plus options to extend for three additional decades. However, convincing the NHL that a team can thrive in Atlanta's northern suburbs will be a significant challenge.
