Greensboro Weighing Downtown Development Proposals
The city of Greensboro is hoping to revive a blighted area by deciding on a proposed mixed-use parcel on what is now a 3.4-acre vacant lot.
Two were presented to the Redevelopment Commission of Greensboro at its latest meeting.
One proposal was for an approximately $80 million project by The Alexander Company. It calls for a six-story mixed-use development that would include 30,000 square feet of retail space, 160 apartment units and 530 parking spaces. The company has been talking with grocers, including Lidl and Publix, about the retail space. The Alexander timeline calls for due diligence to be completed and a purchase and sales agreement with a deposit to be made in October 2024.
The other proposal was for an approximately $10 million project by AZ Development LLC, the company led by Greensboro real estate developer Andy Zimmerman. The project would include a living space and parking spaces that could also be used as an outdoor community marketplace and event space.
