The renovation of Philips Arena in downtown Atlanta will soon get underway, thanks to a deal that secures funds for the $192-million overhaul.
According to WSBTV, the City of Atlanta and the City of College Park arrived at a compromise, allowing rental car tax dollars to go toward the renovation.
The funding was needed to allow the arena’s renovation to move forward, as the City of Atlanta had promised $110 million to the project without raising taxes or pulling money from the general fund.
Announced last November, the renovations will include an expanded seating bowl, new tiered suites, better sight-lines, and audio-visual upgrades throughout. Leaders say the project will bring the 17-year-old facility to the forefront of NBA venues in time for the Hawks to celebrate their 50th season in the city.
With the overhaul, the Hawks will extend their agreement to stay in the city for another 30 years.
In addition to the Philips Arena upgrades, the basketball team hopes to spark development in the area surrounding the venue, including a possible entertainment district in The Gulch.