Magic Johnson, Joel Ferguson firm’s plans at Detroit fairgrounds move ahead

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Plans are moving forward by a company with ties to former NBA star Magic Johnson to redevelop property at the old Michigan Fairgrounds in Detroit.
  
The Michigan Land Bank Fast Track Authority announced Monday that Magic Plus LLC, owned by MSU Board of Trustee Joel Ferguson and Johnson, have completed the purchase of about 16 acres for a mixed-use development along Woodward Avenue.

The city of Detroit will get the remaining 142 acres for additional redevelopment.

Johnson led Michigan State University to the 1979 college basketball championship before a Hall of Fame career with the Los Angeles Lakers. In 2011, he said he would invest in Detroit.
  
The planned sale of the fairgrounds property was announced last year. The state fair was held there through 2009 before losing state funding amid declining attendance.

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