by: Jim Strickland Updated:
ATLANTA - Channel 2 Action News has learned a new buyer has come forward to acquire parts of the bankrupt Morris Brown College campus.
Channel 2's Jim Strickland learned the deal will net the school's creditors between $12 and $13 million.
President Dr. Stanley Pritchett took the stand in federal court Friday hoping to convince Judge Barbara Ellis Monro to give them more time to seal the deal.
He identified the buyer as Pope & Land Enterprises, developer of midtown Atlanta's One Atlantic Plaza and several other high-profile Atlanta properties.
Parts of the school's 34 acres would be sold outright.
"We have to do what we have to do," said student Marcus Britt, who lamented the potential loss of some real estate. "As a student I want my campus. That's just what it is. I love the campus of Morris Brown."
"I could understand the power and the money (the developers) could make if they did get it but, it would really hurt my spirit. It really would," said recent graduate Phaidra Horton.
Strickland learned as part of the net $12.5 million deal, the Middleton twin tower dorms would be sold off, but key parcels like the administration building, John Lewis Gym and Wilkes Hall are safe.
Chairman of the trustees of Friendship Baptist Church, Lloyd Hawk, told Strickland that in the past three weeks, there has been no additional progress to move the church from its current location to a spot on the Morris Brown campus.
The church must move if a new Falcons stadium is to be built on Mayor Kasim Reed's favored site south of the current Georgia Dome.
Judge Monro has to sign off on any sale.