UPDATED: Developers’ purchase of Doraville plant imminent | www.myajc.com

A deal is nearly complete for a development group to buy the shuttered General Motors plant in Doraville.

Representatives for the purchaser, a joint venture known as IMS, jumped the gun Friday morning with an announcement that said the group had closed on the deal. But in a statement later Friday, GM officials said the closing isn’t final.

The delay in the closing is not a sign of trouble for the property sale, an IMS representative said.

IMS, a development team that includes Atlanta-based firms The Integral Group and Macauley+Schmit and Houston-based financial partner CAMS, declined to disclose the purchase price of the 165-acre property. GM also declined to provide a purchase price, but the automaker has previously said its asking price was about $60 million.

The 2008 closing of the GM plant near the Perimeter and I-85 wiped out more than a third of Doraville’s employment base. The hulking plant has been seen as both a shadow over the north DeKalb city of about 8,500 people and a tantalizing redevelopment site near two interstates and MARTA rail.

Previous attempts to sell the site to developers haven’t panned out.

The property has been under contract since July 2013, and Integral has been in discussions about the site for about two years. The developers will announce a planner later this month, and demolition of the structure will take about eight months, according to a news release.

via UPDATED: Developers’ purchase of Doraville plant imminent | www.myajc.com.