St. Johnsbury Academy has agreed in principle to sell its Maple Center Motel property to a group

ST. JOHNSBURY — St. Johnsbury Academy has agreed in principle to sell its Maple Center Motel property to a group planning to convert the space into market-rate apartments. Maple Hill Terrace, LLC, organized by four men living within a mile of the former motel on Hastings Hill, was finalizing a purchase and sales agreement with the Academy on Friday. The purchase price was not provided. The deal follows a recent effort by Rural Edge to purchase the property and convert it into subsidized, affordable housing. The housing and community development organization held an option to buy it and developed plans for 15 apartments.