T.D. Jakes Real Estate Ventures (TDJREV), owned by pastor and evangelist Bishop T.D. Jakes, shared its master plan to build an affordable housing and entertainment districts in Atlanta.
Jake’s real estate venture plans to develop 95 acres in the city’s Fort McPherson area, which was once a Confederate military base site. The land, adjacent to Tyler Perry Studios, was purchased by Jakes and Perry last June, according to local station 11 Alive.
Perry acquired an additional 37 acres to his existing 330 acres, while Jakes acquired the 95 acres he plans to develop.
TDJREV has big plans for the land. The real estate investment firm presented a five-part plan during a virtual meeting with the Community Engagement Subcommittee of the Local Redevelopment Authority on Oct. 27, Saporta Report wrote.
Phase one of the plan includes the VA hospital area, which will consist of bungalows for patients seeking treatment.
Phase two includes building a single-family subdivision, townhomes, apartment complexes, retail space, and a K-8 school along the Campbellton Road corridor.
Phase three will build on a commercial space with shops, restaurants, local businesses, a boutique hotel, and short-term housing for out-of-towners working on projects at Tyler Perry Studios.
Phase four is adding more commercial space for a business district. The district will provide office space for corporate business opportunities near the fort’s main entrance on Lee Street.
The final phase establishes a cultural district with workspaces for artists and other creatives to rent. According to the Saporta Report, this phase also includes senior living facilities, which are currently a major need.
“We are pleased to release this plan today to provide the community a glimpse of what is likely to be incorporated into the final plan,” Jakes said in a press release last week. “While this is a major step forward, the plan is a work in progress as we continue our dialogue with local stakeholders and residents. We remain focused on strengthening communities through affordable housing and by helping people live the American dream through homeownership and the creation of multi-generational wealth.”
TDJREV provided the public with an opportunity to see the plan at another community engagement subcommittee meeting on Oct. 30.