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Mon June 24, 2013
New Greensboro Developments Spark Interest in Downtown Living
Developers in Greensboro are making way for a new multi-million dollar apartment complex downtown.
Demolition began Monday on the old North State Chevrolet service building in Greensboro.
Bellemeade Development is partnering with Lomax Construction to clear the site for new luxury apartments on the North side of downtown next to the baseball stadium.
“This is the second phase of a project that has come on line within the past year that will be adding another 70 units to the existing 196 units that are already in place,” says Ed Wolverton, President and CEO of Downtown Greensboro Incorporated.
The new development also offers a lot of amenities.
“There is a salt water pool, a meeting room and bar space, there’s space that actually overlooks the baseball stadium,” says Wolverton.
The new development will be called The Greenway at Stadium Park. The nearly $7-million project is part of the city’s strategy is to add more residential space in downtown. Currently, around 21,000 people work in downtown Greensboro.
Over the past few years, city leaders have been partnering with private developers to revitalize the business district in center city. Wolverton says foot traffic and interest in this part of the city continues to grow.
“Deep Roots Co-op Market has opened within the past six months, about a half of block from this apartment development. A new section of the Greenway has also opened in front of the apartments. The next phase of the Greenway that will turn up Eugene Street onto Fisher is well underway in terms of its planning,” says Wolverton.
Downtown development is really driving the growth in Greensboro. Wolverton says last year, the downtown’s property value grew by around 18 percent, compared to the city as a whole, which grew only 1.1 percent.
The Greenway Stadium Park luxury apartments are expected to open next summer.