Demolition of the old Ford Motor Co. assembly plant in Hapeville could begin as early as next week after Ford and Jacoby Development closed the sale of the property Wednesday night.

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Jacoby plans to redevelop the 122-acre site next to Hartsfield-Jackson International Airport into an "aerotropolis" — an aviation-intensive business district that might include office, retail, restaurant, hotel and airport parking.

The sale price was not disclosed.

"Just as the Ford assembly plant has been an economic engine for the region for more than half a century, this redevelopment will build on the powerful economic engine that is Hartsfield-Jackson Atlanta International Airport," Jim Jacoby, chairman and CEO of Jacoby Development, said.

Jacoby hopes to capitalize on traffic at the future Maynard Holbrook Jackson Jr. International Terminal, which is scheduled to open in three years.

Motorists on I-75 could see heavy equipment starting to pull down the plant buildings next week, said Scott Condra, Jacoby senior vice president. Demolition and environmental clean up is expected to take about 12 months. After that construction can begin.

Jacoby converted the former Atlantic Steel mill site into Atlantic Station, the 138-acre mixed-project in Midtown. Still under construction, Atlantic Station accelerated infill development in Atlanta.

The environmental work in Hapeville will not be as complicated as the work done at the Atlantic Station site, Condra and Jacoby said. The Ford plant opened in 1947 and closed in October 2006. Among the contaminants to be removed will be spilled fuel and paint solids, Condra said.

After the site preparation work is complete, a 4,000-space airport parking area is scheduled to be built.

Jacoby said no buildings will go up until tenants are signed. One of the ideas being floated is a trade mart for green construction, he said.

"The new development will bring thousands of jobs to our community," Hapeville Mayor Alan Hallman said.

At different times the assembly plant built the Ford Fairlane, Fairmont, Falcon, Galaxie, Granada, LTD, Rachero, Torino, Thunderbird, Marquis, Sable and Taurus.