The tract, located in north Chapel Hill, is under consideration as a potential source of affordable housing for the area's residents.
Members of both the Chapel Hill and Carrboro town governments attended the open forum, held at the Southern Human Services Center, to hear the concerns and suggestions of the more than 45 residents present.
The future of the Greene Tract is the latest in a series of conflicts arising in Orange County between growing housing needs and the desire for green space.
After a brief description of the decision-making process and plans for the Greene Tract, the floor was opened to residents who wanted to express their thoughts on the matter.
The three feasible alternatives for the land are to leave the wilderness untouched, develop it for industry and housing or divide the acreage between affordable housing and protected woodland.
Several residents and interest groups said they had strong feelings about the future of the tract.
"We would like to see some acreage reserved for affordable housing, but most land kept in its natural state," said Robert Porter, Orange-Chatham Sierra Club president.
Mark Chilton, director of EmPOWERment Inc., a nonprofit organization that promotes affordable housing, said partial development is a necessity.
"My gut reaction is that (there should be) a small amount of land for housing and a large chunk of land left," Chilton said.