A real estate group is buying 476 acres of Lancaster County farmland from Armstrong World Industries.
The two companies announced Friday that they reached a sale agreement for the property, which won’t be finalized until late 2024.
“Our vision is to deliver a high-quality mixed-use development which includes thoughtful placemaking, natural areas, and open spaces that enhances the overall community, similar to other transformative projects we have successfully delivered in the past,” said Mark Fitzgerald, president and chief operating officer of High Real Estate Group LLC.Armstrong will keep its 140-acre corporate campus at 2500 Columbia Ave., where it employs about 600 people.
Armstrong decided to sell the property after commissioning a feasibility study that weighed the value of developing it itself or partnering with someone else. The company said it had interest from other entities, but chose High because of its history of success and local development.
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