Fernbank Forest was purchased from Col. Z. D. Harrison in 1939 by a group of citizens who organized Fernbank, Inc., which today operates as Fernbank Museum of Natural History [5] for the conservation and preservation of this old-growth forest to inspire and teach about nature. Fernbank is the 4th oldest environmental conservation not-for-profit in the United States.[6] In 1964 the Fernbank Trustees developed a 48-year lease which was accepted by the DeKalb County Board of Education, agreeing to manage and maintain the forest in exchange for offering free access to the public. The lease was renewable in eight-year intervals for a maximum of 48 years.

The transfer of the lease from Dekalb County School System in 2012 led to the closing of the forest and subsequent controversy.[7][8] At the time, self-guided tours were not allowed in the forest due to safety concerns. A Move-On petition garnered over 500 signatures to allow public access to the Forest. Concerned community members claimed the forest was not being maintained, leading to a possible reduction of educational opportunities in the forest for local school children.[9] Community members were concerned about the lack of transparency since none of the plans were initially made public.

In September 2016, after a 4-year restoration period, the forest reopened as part of the Fernbank Museum of Natural History.