Mixed-use development, arena approved pending award of NHL franchise

During a Special Called Public Hearing on Tuesday, March 26, the Forsyth County Board of Commissioners voted to approve a Memorandum of Understanding (MOU) between the County and Krause Sports and Entertainment, the developer for The Gathering at South Forsyth, a proposed $2 billion plus entertainment hub and arena.

The MOU, a binding agreement between the County and the development group allowing for the developer to proceed with next steps, includes the following agreed points, among others:

• The developer will privately finance the mixed-use development, including the commercial office and retail, hotel, multifamily and single-family homes, a 1.2-mile connection on the Big Creek Greenway, a Fire Station and Sheriff’s Office precinct.  

• The County will invest $225 million (only upon the NHL awarding a franchise), through the Forsyth County Development Authority, to be funded via bond with debt paid via a Tax Allocation District (TAD), or other district specific sources, that have boundaries limited to the development property.

• The County will own the arena, and the arena operator will maintain the facility for the life of the lease.

• The County and Forsyth County Board of Education will receive all sales tax generated from the property annually (estimated by an Ernst & Young Fiscal and Economic Impact Analysis to be $8 million/year).

Below are statements from Forsyth County executives and The Gathering at South Forsyth.

Forsyth County Manager David McKee:

“Reaching this milestone agreement with Mr. Krause, a County resident and great supporter of our community, and the Krause Sports and Entertainment team, is a large step to bringing this world-class sports and entertainment hub to Forsyth County. Being able to utilize a TAD, or other district specific funding sources, to fund the County’s investment ensures there is no taxpayer burden outside the footprint of the development. We are excited to watch the next steps of the proposed development occur and hopefully see an NHL franchise come to Forsyth County along with an economic catalyst for not only our County, but north Georgia.”

Krause Sports and Entertainment President and CEO Vernon Krause:

"The Gathering at South Forsyth is poised to be a transformative destination, offering a multifaceted blend of entertainment, retail, residential and recreational spaces, all meticulously and sustainably designed to foster community engagement and elevate the quality of life for residents and visitors alike. Now, I am more confident than ever that we have a concrete plan to present to the NHL for consideration as they possibly consider expansion.”

District 5 Commissioner Laura Semanson:

"The Board of Commissioners is proud to welcome the incredible economic opportunity The Gathering at South Forsyth will bring knowing that our investment will be repaid with dollars that are generated within the development district. We recognize this development’s capacity to invigorate our local economy and enrich the fabric of our community. This collaboration exemplifies the power of public-private partnerships in driving sustainable development and fostering a thriving, inclusive environment for all the residents and visitors to our growing community."

Krause Sports and Entertainment Senior Project Executive Frank Ferrara:

"We are thrilled to join forces with Forsyth County to bring The Gathering at South Forsyth to fruition. This project represents more than just bricks and mortar; it embodies our collective commitment to innovation, sustainability and community empowerment. Together, we are embarking on a journey to create a vibrant epicenter that will serve as a cultural landmark for generations to come.”

About The Gathering at South Forsyth

The Gathering at South Forsyth is an 84-acre mixed-use development designed to be a world-class entertainment hub and the gateway of South Forsyth County, Georgia. The Gathering at South Forsyth development team includes Dovin Ficken LLC, Bryan Cave Leighton Paisner, and Miles Hansford, LLC, legal counsel; Stafford Sports, owner’s representative; Nelson Worldwide, land planning; Jones Lang LaSalle, real estate advisors; SCI Architects, arena architects, Kimley-Horn, civil engineering; and Stone Planning, economic impact research.

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