Frederick could unload two parcels of land near the city’s airport if the aldermen approve a $4.3 million sale of more than 27 acres to a developer that plans to build a large warehouse on the site.
A deal would sell the property along Monocacy Boulevard to Northpoint Investments I, LLC for a price of more than $157,000 per acre.
The city had four offers on the property, city economic development director Richard Griffin told the mayor and aldermen at a workshop Wednesday.
The property is left over from the $6.97 million purchase of a 59-acre section of the Renn Farm property. The city bought the land to build Monocacy Boulevard between Hughes Ford Road and Schifferstadt Boulevard.
The city had previously sold another parcel of nearly 5 acres to Patriot Technologies in 2020.
Northpoint intends to use the property to build a 350,000-square-foot warehouse, Griffin said.
Because of its proximity to Frederick Municipal Airport, and its location in the city’s airport overlay zone, Northpoint will have to guarantee that anything built on the site won’t hamper the function of the airport, he said.
The company will have to file a notice of proposed construction or alteration with the Federal Aviation Administration, which will control the height of buildings on the property based on its distance from the nearest take-off and landing area of the airport, according to a report prepared by city staff.
A public hearing on the purchase is scheduled for March 4.
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