March 7, 2019
A Dallas developer is about to buy the Gwinnett Place Mall and turn the struggling 1.2 million-square-foot retail center into a cricket stadium.
The current owner of Gwinnett Place Mall, Moonbeam Capital Partners, is going to partner with Global Sports Ventures and Thakkar Developers to create a new company called CricRealty Co. that will develop eight stadiums across the United States and start a new cricket league, according to Bisnow.
CricRealty plans to turn Gwinnett Place Mall into a 20,000-seat cricket stadium surrounded by a redeveloped mixed-use project in a bet that the large number of residents of Indian and Asian descent will embrace one of the most popular sports in their ancestral countries.
If they build it, will the fans come?
Although it’s one of the most popular sports in India, Pakistan, Australia and dozens of other countries, the United States barely cracks the top 30 in a list of countries where cricket is popular, according to TopEndSports.com.
Cricket coming to metro Atlanta adds further proof that niche professional sports can thrive in an area long dominated by football.
Other professional sports leagues have already paved the way. Atlanta United won the Major League Soccer Cup championship in December after defeating the Portland Timbers, and two years ago the Georgia Swarm won the National Lacrosse League Championship. Next year, the newly formed Rugby ATL Major League Rugby team will kick off its inaugural season.
Giving Atlantans opportunities to support sports they’re passionate about, and attracting children who may be interested in playing these off-the-beaten-path sports, adds richness and diversity to the city’s culture.
We also like seeing a new mixed-use component being planned as part of the development of the cricket stadium, and we think this project will inject new life into the Gwinnett Place area, which has been down on its luck since being foreclosed on in 2012.
Let’s talk more about how thoughtful development is reshaping the city’s real estate market and what it means for your business. You can reach us here.