Power Players: Mixed-Use Development
Carter named as one of the top sports-related real estate developers
During the last decade, the sports and real estate industries have begun to interact in a sustained way for the first time, resulting from (and now spurring) team and venue owners’ desires to create mixed-use developments near or next to stadiums and arenas.
At their best, these districts become places people want to be before, during or after a game, improving and lengthening game day and generating revenue for owners that doesn’t have to be shared with fellow teams across a league. At their very best, they become neighborhoods that feel like they have always been there.
Mixed-use has existed for decades, but it’s only during the last decade that it has shifted from a neat novelty to a must-have.
It has created a need for land that teams can either own or develop and affected other elements of the sports venue business, including lease extension negotiations. The Carolina Hurricanes and Baltimore Orioles scored development rights in recent lease extension deals.
Mixed-use development also has slowed, to some degree, the trend of new venues being built in urban cores. City centers still are preferable for most teams, especially if there is land that can be developed nearby. But such developments have made the suburbs, in certain scenarios, attractive again in a way they wouldn’t have otherwise been because of land availability.
This Power Players list shows how sports and real estate entities (and people) are adapting their businesses to pursue new opportunity. Mixed-use developments are becoming common enough that Sports Business Journal is highlighting sports and real estate entities that are either pushing the boundaries of sports-related real estate development or are ubiquitous in this increasingly important space.
SPORTS / ENTERTAINMENT PROPERTIES
Atlanta Braves / Braves Development Co.
Chicago Cubs / Marquee Development
Dallas Cowboys / Blue Star Land
Tampa Bay Lightning / Strategic Property Partners
Green Bay Packers / Titletown Development
Kroenke Sports & Entertainment
DEVELOPERS
AEG Worldwide
Carter
The Cordish Companies
Hines
JMA Ventures
Machete Group
Oak View Group
Related Companies
FINANCE, MANAGEMENT AND CONSULTING
Brailsford & Dunlavey
Canopy Team
CBRE Group
Hunden Partners
Jones Lang LaSalle
McCullers Group
RCLCO
Sports Facilities Companies
Sterling Project Development
Transwestern
Content by David Broughton and Bret McCormick