'Magic' Johnson group OK'd for fairgrounds deal - Los Angeles News | FOX 11 LA KTTV

'Magic' Johnson group OK'd for fairgrounds deal

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(WJBK) -

An investment group that includes ex-Michigan State and Los Angeles Lakers basketball star Earvin "Magic" Johnson has received state approval to buy the 157-acre former state fairgrounds in Detroit for $4.6 million.

The site at the city's northern limits would be transferred to Magic Plus LLC, which is working with the developer REDICO.

A spokesman for REDICO says the Michigan Land Bank Fast Track Authority board approved the deal Wednesday.

The development is expected to include shops, restaurants and housing. Michigan's state fair was held there from 1905 through 2009.

The project would be the second major development in the area. In July, Meijer Inc. opened a grocery supercenter at the $72 million Gateway Marketplace. REDICO also is the developer for the Gateway Marketplace, adjacent to the fairgrounds.

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