Greenbelt Development Corporation Expresses Interest in Purchasing Lawrence Apartments

The Greenbelt Development Corporation (GDC) has put in a letter of intent expressing its interest in purchasing Lawrence Apartments, according to Eldon Ralph, (GHI) general manager.

GHI's agenda for Thursday night lists a $4 million line of credit to Greenbelt Development Corporation as up for action or discussion.

Greenbelt Patch's calls to Lawrence Apartments representatives were not immediately returned.

But Ralph said the two buildings with 48 apartment units are up for sale. Lawrence Apartments are located at 26 Crescent Road.

Although GHI's agenda lists the $4 million line of credit, Ralph said that he could not release the details of that request before the GDC Board meets on Thursday night in executive session, which is closed to the public.

Ralph also clarified that the grant could cover a number of financial transactions, and it would not necessarily be for the purchase of Lawrence Apartments.

At the GDC's meeting, the GDC will determine whether to make a grant request from the GHI Board and what that request will involve, Ralph reported.

The GHI Board will meet at 7:30 p.m. in the GHI Board Room at GHI's main office at One Hamilton Place. It is at this meeting that the public can find out whether the GDC will make a request as well as the details of its request, Ralph said.

Other items up for action or discussion at GHI's Board meeting include:

• Proposed modification of Gardenside exterior door – 56H Crescent

• Proposed installation of fence off designated yard line – 6H Research

• Yard line certification: 1 Court Crescent

• Electrical inspections update

• Board retreat/strategic plan meeting agenda

• Proposed state of the co-op town hall meeting

• Contract for renovation: 42M Ridge

• Letter in support of National Development Co-op Act

• Completion of transition task force assignments