About five years ago, Lawrence and North Andover created the Lawrence Airport Enterprise Commission with an eye on developing this 50-acre parcel into an industrial park. While the airport is located in North Andover, it is owned by the city of Lawrence. The Lawrence Airport commission said it didn't need the acres for aviation use, freeing up the four parcels for development.
Mark Grees, town manager of North Andover, tells GlobeSt.com that the Enterprise Commission is hoping to get grants to develop infrastructure such as water, sewers and roads to service the property.
Grees notes that the complicating factor in the deal is that some of the land was paid for by FAA grants. This resulted in a deal in which the Enterprise Commission will buy two of the parcels and will lease the other two. Grees says that it was financially more advantageous for the airport to have the lease arrangements. Only 25 acres are developable--the rest are wetlands.
Once the infrastructure is in place Grees says two of the parcels, which are each roughly five to six acres, will be sold to a developer while the other two will be subleased. Grees adds that the developers will determine the final makeup of the industrial park.
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