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NC State sells Hofmann Forest near Jacksonville for $150 million

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RALEIGH, NC (AP) -- Trustees of NC State University's Endowment Fund have agreed to sell the 79,000-acre Hofmann Forest near Jacksonville to an Illinois-based agribusiness company for $150 million.

The News & Observer of Raleigh reports the money will be placed in endowment funds, and income from its investment will be used mainly to benefit the College of Natural Resources.

Conservationists, forestry experts and landowners oppose the sale. Those groups filed a lawsuit last month saying the state was required to consider public input and the potential environmental impact of selling the land, among other issues.

A judge denied the groups a temporary restraining order to stop the sale after lawyers from the state Attorney General's Office argued that the sale wasn't imminent.

NC State identifies the buyer as a family-owned farming company.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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Sad

And shameful. Just like River road woods, mayfaire horse farm and woods, and 17th st extension on both sides, these should have been left green spaces. Where will the wildlife go? Will our children and grandchildren ever haves the thrill of seeing deer, fox, etc in our town in the future? It would have made all other property more valuable to have less of it available in New Hanover county. Do we really need 2700 more houses, or another Mayfaire?

Mayfair

Mayfair was Hardy Parker's cow farm. Not Mayfair horse farm. But I agree with your point.

less...

Than $2,000 per acre?
Is my math correct?
Please say I made a mistake....

Vog

re:less...

Most of the time, the purchase of a large tract of land is priced significantly less per acre than a smaller tract. It will be interesting to see what the new owners have in mind to do with it. Since they are an agricultural business, chances are it will be farmed.