Atlanta Mayor Kasim Reed revealed new details Friday about filmmaker Tyler Perry’s plans to purchase a large swath of Fort McPherson and turn the land into a major movie and television studio.
Under the proposal now before a civilian authority charged with redeveloping the former Army post, Perry would purchase 346 acres of land for $33 million. Atlanta will assume roughly 125 acres from the deal at no cost to the city, Reed said.
The McPherson Implementing Local Redevelopment Authority, or MILRA, voted last week to begin formal negotiations with the filmmaker. The Army is set to transfer the nearly 500-acre property in July to MILRA for $30 million.
If the deal is approved by the MILRA board, Perry would then purchase the land and pay the city’s carrying costs for a total of $33 million, Reed said.
The mayor believes such a development will draw other businesses to the area and further solidify Georgia’s growing reputation as a major player in the film industry. Atlanta will receive “significant greenspace” in the deal, he said Friday.