NHL Arena Coming to North Atlanta? What It Means for Homeowners

Two major developments roughly six miles apart are competing to become the potential home of Atlanta's next NHL franchise.

On one side is The Gathering at South Forsyth.

On the other is the proposed redevelopment of North Point Mall in Alpharetta.

Both plans include an approximately 20,000-seat NHL arena and billions of dollars in surrounding development.

But for homeowners, the bigger question isn't necessarily which site gets the hockey team.

It's what these massive projects could mean for home values, traffic, development, and everyday life along the Georgia 400 corridor.

And there's an important reality check: Atlanta does not currently have a new NHL franchise, and the NHL has not launched a formal Atlanta expansion process with a timetable. Both projects are proposals built around the possibility of an NHL team.

So if you're considering buying a home in Alpharetta or South Forsyth, don't buy based on the assumption that an arena is guaranteed.

Instead, let's look at what is actually being proposed and what it could mean for homeowners.

The Gathering at South Forsyth

The Gathering is proposed for approximately 100 acres near Union Hill Road and Ronald Reagan Boulevard, just off Georgia 400 in South Forsyth County.

And this isn't simply an arena surrounded by a few restaurants.

The vision is for an entirely new entertainment district featuring:

• Approximately 20,000-seat arena
• Hotels
• Restaurants
• Offices
• Residential housing
• Community spaces
• Trails
• Green space
• A connection to the Big Creek Greenway

The reported development value exceeds $3 billion.

Where The Gathering Stands

Forsyth County, the school board, and the development authority approved major agreements connected to the project in June 2025.

The county agreement includes a potential $225 million public investment.

But there's an important condition.

That investment is tied to an NHL franchise being awarded to the site.

No NHL team means no $225 million county arena investment under that agreement. The mixed-use portion is intended to be privately financed.

That's an important distinction for anyone trying to understand where the project stands today.

Why South Forsyth Is So Interesting for Real Estate

South Forsyth is already one of the major growth stories in North Metro Atlanta.

It's immediately north of Alpharetta and close to Johns Creek, while Georgia 400 provides access to the larger North Fulton employment corridor.

People are already moving here for:

• Newer homes
• Schools
• More space
• Access to Alpharetta
• A suburban lifestyle
• Growing shopping and dining options

The Gathering could accelerate that transformation.

The question becomes:

What happens when the amenities start following the people?

Instead of living in South Forsyth because it's close to Alpharetta, residents could increasingly have restaurants, hotels, offices, entertainment, and other destinations right in their own community.

That could change how people perceive the area.

What Could The Gathering Mean for Homeowners?

If the project is built at the proposed scale, its impact could extend beyond the arena itself.

A major entertainment district can create additional demand for:

• Restaurants
• Hotels
• Retail
• Employers
• Housing
• Transportation infrastructure

That could potentially make nearby neighborhoods more attractive to buyers who value convenience.

But there's another side to this.

Traffic Could Get Worse

South Forsyth already has traffic concerns.

Adding an approximately 20,000-seat arena means potentially moving thousands of people into and out of the area for hockey games, concerts, and other major events.

Infrastructure improvements are already underway.

A roughly 16-mile Georgia 400 express lane project runs from the North Springs MARTA station north into Forsyth County, with completion currently expected around 2031. Additional improvements are planned around McGinnis Ferry Road and the Union Hill area.

Those improvements could help move traffic more efficiently.

But infrastructure doesn't eliminate congestion.

Twenty thousand people are still twenty thousand people.

For homeowners close to the project, event traffic and road congestion could become a significant consideration.

North Point Mall: Alpharetta's Redevelopment Opportunity

Now let's move south to Alpharetta.

North Point Mall has been part of the Alpharetta redevelopment conversation for years.

The latest proposal would transform nearly 99 acres into a major sports and entertainment district.

And the scale is enormous.

The approved plan includes:

• Approximately 20,000-seat hockey arena
• 4,000-seat music and performing arts center
• 2,000-seat practice and community ice facility
• Hotels totaling approximately 650 rooms
• 750,000 square feet of office space
• More than 500,000 square feet of retail and restaurant space
• More than 1,300 rental homes
• Approximately 26 acres of parks, plazas, and trails

The plan is tied to an NHL franchise being awarded to the site by August 24, 2031.

In other words, the proposal isn't simply replacing an aging mall.

It's creating an entirely new mixed-use destination.

Why North Point Could Be a Big Deal for Alpharetta

North Point has one major advantage over The Gathering:

It's already in an established commercial area.

Georgia 400 is right there.

Avalon and downtown Alpharetta are nearby.

Roswell is immediately south.

The surrounding infrastructure already exists.

That means the proposal isn't introducing a massive commercial district into an otherwise undeveloped area.

It's increasing the intensity of an existing commercial corridor.

And that distinction matters for nearby homeowners.

The Bigger Story May Not Be Hockey

If North Point is successfully redeveloped, the real estate story may have less to do with the NHL itself and more to do with the reinvention of the entire North Point corridor.

Avalon demonstrated how a major mixed-use development can create a new destination within an established suburb.

North Point could potentially do something similar on Alpharetta's south side.

Instead of an aging mall, residents could eventually have:

• Restaurants
• Parks
• Entertainment
• Hotels
• Offices
• Retail
• Housing
• Events

That could create a new activity center for the area.

But How Close Is Too Close?

This is where homeowners need to be careful.

There is a huge difference between living five minutes from an arena and living 500 feet from one.

The closer you get, the more likely you are to experience:

• Event traffic
• Noise
• Parking activity
• Late-night crowds
• Increased density
• Construction
• More rental housing

Some buyers will love that.

They may think:

"I can walk to restaurants, entertainment, and sporting events."

Other buyers will have exactly the opposite reaction.

They may want a quiet neighborhood where they don't have to deal with crowds several nights a week.

That's why it would be a mistake to assume that an arena automatically increases the value of every home nearby.

Real estate doesn't work that way.

North Point vs. The Gathering

The two projects could have very different effects on their surrounding communities.

	North Point	The Gathering
Location	Alpharetta	South Forsyth
Approx. Site Size	99 acres	100 acres
Arena	~20,000 seats	~20,000 seats
Main Concept	Redevelopment	New entertainment district
Housing	1,300+ rental homes	Residential component planned
Retail/Restaurants	500,000+ sq. ft.	Planned
Hotels	~650 rooms	Planned
Parks/Trails	~26 acres	Planned
Primary Real Estate Story	Redevelopment	Continued growth

The key difference is the stage of development.

North Point is a redevelopment play.

You're taking an aging commercial property in an already established and expensive market and giving it a new identity.

The Gathering is a growth play.

You're creating a major destination in an area that still has significant room to develop.

What Could Happen to Home Values?

This is probably the question homeowners care about most.

And the honest answer is:

Nobody knows yet.

It's tempting to assume that billions of dollars of development and a professional sports arena automatically mean higher home values.

But real estate is much more complicated than that.

The impact can vary based on:

• Distance from the development
• Traffic patterns
• Noise
• Neighborhood type
• School district
• Housing supply
• Retail access
• Infrastructure
• Buyer preferences

A homeowner five miles away may experience the project very differently from someone living directly beside it.

The Potential Upside

A successful development could make an area more attractive by adding amenities and creating a stronger destination.

That could increase demand among buyers who value convenience and entertainment.

The Potential Trade-Off

At the same time, nearby homeowners could experience more traffic, noise, density, and construction.

And those factors can make a location less appealing to buyers seeking peace and privacy.

So I would be very cautious about making blanket predictions about appreciation.

The Bigger Question: Where Is North Atlanta's Center of Gravity Moving?

This is where the story gets really interesting.

For years, Alpharetta has been one of the major centers of North Atlanta.

People pay a premium to live there partly because they're close to:

• Jobs
• Restaurants
• Avalon
• Downtown Alpharetta
• North Point
• Georgia 400

Historically, moving farther north into Forsyth County often meant trading some of that convenience for newer homes and more space.

But what happens when those amenities start moving north?

That's what makes The Gathering potentially significant.

If it reaches the proposed scale, South Forsyth could become a destination in its own right rather than simply a community located near Alpharetta.

And that's a much bigger real estate story than hockey.

What Happens If Neither Site Gets the NHL Team?

This is one of the most important parts of the story.

The outcome isn't necessarily:

One site wins. The other site loses.

Plans can change.

Timelines can change.

The NHL could take years to make a decision.

And Atlanta could ultimately not receive an NHL franchise.

But North Point still has almost 100 acres of valuable property next to Georgia 400.

Something will eventually need to happen with that land.

Likewise, South Forsyth is already growing, regardless of whether The Gathering ultimately receives an NHL franchise.

That's why homeowners shouldn't base their decision entirely on hockey.

The underlying development stories matter independently.

Should You Buy a Home Near the Proposed Arenas?

If you're considering buying in Alpharetta or South Forsyth, I'd approach this very carefully.

Don't buy a house because someone tells you an NHL arena is guaranteed to make your property appreciate.

That's speculation.

Instead, buy because the location works for your life today.

Look at:

• Commute
• Schools
• Neighborhood
• Home price
• Property taxes
• Traffic
• Nearby amenities
• Lot size
• Future development
• Noise tolerance

Then consider the arena proposal as one additional factor.

If North Point gets the NHL team, great.

If The Gathering gets it, that's interesting too.

And if Atlanta doesn't get another NHL franchise, you still own a home in a location you actually wanted.

That's the safer way to think about it.

The Bottom Line

The proposed NHL arena projects in North Point Alpharetta and South Forsyth's The Gathering aren't simply competing for a hockey team.

They're competing over something much bigger:

Where will the next major center of North Atlanta develop?

North Point represents the potential reinvention of an established Alpharetta commercial corridor.

The Gathering represents the continued expansion of South Forsyth into a major regional destination.

For homeowners, both could bring significant changes.

Those changes could include more restaurants, retail, entertainment, employment, housing, and infrastructure.

They could also mean more traffic, density, noise, and construction.

And that's why there's no simple answer about whether living near either project will be better or worse.

The right question is:

Does the community work for you without the arena?

If the answer is yes, then future development could be an added benefit.

If the answer is no, don't let the possibility of professional hockey convince you otherwise.

Because the arena isn't the investment you're buying.

You're buying the home.

Frequently Asked Questions

Is Atlanta getting an NHL team?

Not yet. The script states that Atlanta does not currently have a new NHL franchise and that the NHL has not launched a formal Atlanta expansion process with a timetable. Both North Point and The Gathering are positioning their developments around the potential opportunity.

Where could an NHL arena be built in North Atlanta?

Two major proposals are competing for the opportunity: the approximately 100-acre The Gathering development in South Forsyth and the nearly 99-acre redevelopment of North Point Mall in Alpharetta. Both proposals include an approximately 20,000-seat arena.

How big is The Gathering in South Forsyth?

The proposed Gathering development covers roughly 100 acres and is expected to exceed $3 billion in total development value. Plans include an arena, hotels, restaurants, offices, housing, community spaces, trails, and a Big Creek Greenway connection.

What is planned for the North Point Mall redevelopment?

The proposal includes an approximately 20,000-seat arena, 4,000-seat performing arts center, 2,000-seat practice and community ice facility, approximately 650 hotel rooms, 750,000 square feet of office space, more than 500,000 square feet of retail and restaurant space, more than 1,300 rental homes, and approximately 26 acres of parks and trails.

Will an NHL arena automatically increase nearby home values?

Not necessarily. The effect can depend on distance from the project, traffic, noise, density, amenities, infrastructure, and individual buyer preferences. A successful entertainment district could increase demand for some nearby properties, while increased activity could make other properties less attractive to buyers seeking quiet and privacy.

Should I buy a house because an NHL arena might be built nearby?

The script recommends against buying solely because of the proposed NHL development. The better approach is to make sure the home and location work for your lifestyle today and treat any future arena development as an additional consideration rather than a guaranteed investment outcome.

About the Author

Sarah Maslowski is a licensed real estate agent and the lead of KeyPoint Homes Group, specializing in helping buyers relocate to North Metro Atlanta and North Georgia.

Her team works with relocation buyers from across the country, helping them understand local communities, housing markets, development projects, schools, commute patterns, and the factors that can affect the long-term experience of living in a particular area.

Sarah provides local insight into the communities surrounding the Georgia 400 corridor, including Alpharetta and South Forsyth, and helps buyers evaluate a home based on the location and lifestyle—not speculation about future development.