Morris Brown College is about to begin laying out plans to sell off most of its 34-acre campus with a court filing establishing the sale guidelines.
A sale motion will be filed next week mapping out parameters on the property to be sold and establishing deadlines for interested parties to submit offers, said Anne Aaronson, Morris Brown’s bankruptcy attorney.
The historically black college, which filed Chapter 11 bankruptcy in August 2012, is partnering with Jones Lang LaSalle Inc. to handle the property transaction.The college also goes to court next month for approval of its partnership with the real estate firm.
Morris Brown has already received several offers for various parcels of the property, Aaronson said.
Recently filed court documents show that Morris Brown, which sits near the site of the future Atlanta Falcons football stadium, has been in negotiations with two historically black churches, Friendship Baptist and Mount Vernon Baptist, that will be displaced by the stadium.
Rumors that Falcons owner Arthur Blank would buy the Morris Brown property for a soccer stadium are inaccurate, said an official close to the negotiations.
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