By Maria Saporta and Maggie Lee
TD Jakes Real Estate Ventures is entering into talks to purchase and develop a certain amount of land in Fort McPherson, southwest of Atlanta.
Plans for negotiations were released Thursday, when the Fort McPherson Local Redevelopment Authority’s board of directors voted unanimously to begin 45 days of exclusive negotiations with TD Jakes Real Estate Ventures on an undetermined number of acres.
About 132 acres of the old fort still need to be redeveloped.
“We would like to thank Tyler Perry for the vision he has had for this property and its potential for almost a decade,” Cassius Butts, chairman of the For Mac LRA board, said in a press release. Thursday afternoon. “And Bishop TD Jakes and his team for their ability to embrace the vision and work together on potential development with the Fort Mac LRA. If we are able to solidify this partnership between TD Jakes and Fort Mac LRA, it would have an incredible impact on our community.
TD Jakes Real Estate Ventures was established in September 2020 with a self-proclaimed mission to “source, underwrite and develop real estate with the goal of positively impacting communities and driving wealth development”.
In Thursday’s press release, Jakes said, “I’m proud of my long history in the city of Atlanta through my events and film production. I’m excited to add to the framework of events for this next step that will allow us to explore the opportunities that Fort Mac has expanded through this community development project. We are delighted that this exciting opportunity is being developed next to the landmark Tyler Perry Studios. We are committed to taking the time to include and understand the specific needs of the growing community.
Jakes’ reach extends far beyond his ministry headquarters and The Potter’s House megachurch in Dallas, where he is working to build what would be one of the largest foundations in Texas, according to the Dallas Morning. News. His work spans books, films, online streaming, and other media.
Jakes and future neighbor Tyler Perry already know each other, movie mogul says SaportaReport.
“We are not partnered with TD Jakes,” Perry said Thursday afternoon. “But we’re looking forward to seeing what TD Jakes plans to do to see how it complements our future development.”
Tyler Perry Studios wants to buy 31.5 acres adjacent to the roughly 330 acres it bought in 2015.
“We didn’t even make an offer and we didn’t submit our plans” to the authority, Perry said.
“I” is interested in acquiring 31.5 acres adjacent to the studio for an entertainment district. I can’t wait to see what they plan to do with the remaining acreage,” he said.
Under the terms of his 2015 purchase, Perry also has a “right of first offer” to the fort’s remaining land – he can match any other offers to acquire fort land over other buyers.
In 2019, the Fort Mac Authority considered a proposal from Macauley Investments to redevelop the roughly 132 acres of the fort that the Authority still controls, a plan Macauley had been working on for years. But they and Maculey went their separate ways, a move that ultimately cost the authority $3.5 million.
In 2019, Fort Mac executives suggested launching a tender to find a new developer.
The Fort Mac LRA received an unsolicited proposal from TD Jakes Real Estate Ventures before beginning the RFQ/RFP process, according to a statement from the agency.
This story has been updated with further comments from Fort Mac on the tender.