Gray TV’s development partner, The Gipson Co.’s Jay Gipson, revealed more of the media giant’s plans Monday evening during a Doraville Downtown Development Authority meeting.
Gray TV is buying 125 acres of Assembly, a mixed-use project on the site of the former General Motors plant in Doraville overlooking Interstate 285, Bisnow previously reported. The emergency DDA meeting was announced Sunday.
Atlanta-based Integral Group, led by Chairman and CEO Egbert Perry, acts as Assembly’s master developer since the firm purchased the 165-acre former General Motors plant for $50M in 2014. Perry has long planned to develop a $2B mixed-use project on the site.
Gipson and Gray plan to develop 500K SF of studio space across 10 buildings, three of which would be dedicated to Gray TV’s production efforts. Aside from studio space, Gray plans to develop an esports facility, apartments, townhouses, retail and offices, Gipson said, assuring DDA members that the developer will move quickly to begin construction on the project once the sale closes, which could happen as soon as this summer.
The total development could be completed in five years, Gipson told the DDA, which unanimously approved the ownership transfer to Gray TV affiliate LLC Peal Railroad Assembly Yard. The pending purchase price remained undisclosed as of Monday. See more at BISNOW.