In May 2010, it was reported by multiple news outlets that the Atlanta Falcons were interested in replacing the Georgia Dome with a newly constructed open-air stadium, although at the time it was planned to retain the Georgia Dome to continue hosting non-NFL events. The team was pursuing a new stadium because of the team's desire to play outdoors, as well as Falcons team owner Arthur Blank's interest in hosting another Super Bowl. The stadium was also pursued as a possible bid for a venue of an upcoming FIFA World Cup. Kansas City-based architectural firm Populous released comprehensive plans for the proposed stadium in February 2011. Populous' early cost estimate for the project was US$700 million. According to the master plan, the stadium would have a maximum capacity of 71,000, but can expand to 75,000 for special events such as the Super Bowl. It will also feature multiple club levels, suites and exhibition area.

In April 2012, Populous released a new price estimate of US$947.7 million, which was significantly higher than the previous proposal of US$700 million. In April 2012, The Atlanta Journal-Constitution reported that if a deal was reached, the new stadium's construction would be expected to begin in 2014, with the Falcons to begin regular-season play in 2017. The proposed location of the new stadium is a large parking lot in Atlanta's Vine City neighborhood, which is less than a mile north of the Georgia Dome's current location. Once construction was complete, the Georgia Dome would subsequently be demolished.

On August 24, The Atlanta Journal-Constitution reported that an official deal could be reached on the construction of a new stadium by the end of 2012. They also reported on September 10 that Atlanta mayor Kasim Reed said site improvements could likely bump the total cost to US$1.2 billion; however, that does not increase the actual building cost, which still remains at an estimated US$948 million.

On December 10, the Georgia World Congress Center Authority, in a unanimous decision, approved the blueprint and most of the agreement terms for the new stadium plans. According to The Atlanta Journal-Constitution article, the term sheet is non-binding and changes could be made at any time as regards stadium construction. Stadium location, however, is yet to be worked out; proposed locations being reported are within walking distance of the Georgia Dome, with one site located one-half mile north, and the other one block directly south, at the one of the stadium's existing parking lots. The project made national headlines for the first time in 2012 on December 15, with team owner Arthur Blank stating in The New York Times that he would rather have a new stadium be constructed than a "remodeling job" of the Georgia Dome. During a January 10, 2013 press conference, mayor Reed expressed his optimism and confidence in the construction of the new stadium; he also mentioned the possibility of the new stadium helping the city compete for its first Major League Soccer team.


Aerial photo showing land next to Georgia Dome cleared for construction of the new stadium.
On March 7, 2013, the Falcons and the city of Atlanta agreed to build the new downtown stadium. The maximum public contribution for the project was US$200 million, coming from the hotel-motel tax in Atlanta and unincorporated Fulton County. The Atlanta City Council officially approved the stadium on March 19, 2013. The council voted, 11–4, in favor of the use of city hotel-motel taxes to pay US$200 million toward construction costs and potentially several times that toward costs of financing, maintaining and operating the stadium through 2050. On May 21, 2013, the NFL approved a US$200 million loan to the Falcons organization for the purpose of building the stadium.

The Falcons unveiled a conceptual design for the new stadium on June 18, 2013, with a proposed capacity of 70,000 spectators, 7,500 club seats, and 180 luxury suites.

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