Parking Lot Owner Wants $12 Million
Atlanta (WAOK/11 Alive) — For several weeks the city of Atlanta, the state and Atlanta Flacons negotiated with two churches to purchase land needed to build the new retractable roof stadium. Now talks are underway with the owner of a vacant lot near the Georgia Dome.
Larry Zaglin, who owns the gravel parking lot that sits in the site of the new Atlanta Falcons football stadium. Zaglin says the land has been owned by his family since 1902. It used to house a flour and livestock feed mill. Zaglin has put forth plans to design a 25 story building on the land. He says that these plans make the 74 feet wide and almost 300 feet long gravel lot that runs along Magnum street much more valuable than the state of Georgia’s offerings for the new site.
Charles Pursley, the parking lot owners attorney, says that hotel experts say that the lot could be worth as much as $25 million. These reported numbers have caused the property owner to make a counteroffer of $12 million against the state’s offer of $1.2 million.
The parking lot is located next to Friendship Baptist Church, one of the two churches recently purchased by the Falcons to build the new stadium. Friendship accepted a $19.5 million buy-out in September.
Written By Sherman H. Smith Jr (WAOK/Intern)