Prior to alleged interest from Perry and his affiliates, the acreage, which is 20 miles west of downtown Atlanta, had been reserved for 1,095 houses, 325 townhouses and 14 acres of commercial space, orginal plans show.
Once the initial project stalled, and the acreage was ordered to be liquidated under the terms of bankruptcy, the property’s value, originally estimated at $20 million, dipped considerably allowing the ETPC Company to acquire it for a mere $5.4 million. ETPC Company shares the same principal office address and suite number of Tyler Perry Studios LLC and Tyler Perry Studios Casting on 10th Street in west Midtown, according to documents on the Secretary of State and Georgia Department of Economic Development websites.
Read more at: EURWEB.COM
Photos by: AP Images/Tyler Perry