DETROIT – Plans are moving forward for NBA Hall of Famer Magic Johnson to purchase and redevelop the old Michigan State Fairgrounds in Detroit.

Johnson's development company, Magic LLC, will acquire 16 acres of the property located on 8 Mile Road and Woodward Avenue.

The Michigan State Fair has not been held at the spot since 2009.

Read back (August 31, 2012): Magic Johnson has plans for Michigan State Fair Grounds in Detroit