urbanscraper

well In downtown Greensboro, North Carolina there is potentially an EXTREMELY exciting project in the works! The project is currently in the very early stages and it is not a done deal for the city because the developers are scouting other southern states for this $200 million mega urban project. However Greensboro is the FRONT RUNNER for the project because of the city's central location among several southern metros. There are no renderings or blueprints because everything is conceptual but the potential project consists of a cluster of mid-rises and high-rises. Here are some of the elements for this potential downtown Greensboro project

- high-rise luxury hotel with 300 to 600 rooms

- 50 room luxury boutique hotel

- convention center

- significant and major entertainment venues that attract big time national acts and hold between 500 and 2,500 people (entertainment complex which sounds like having venues such as The House of Blues)

- entertainment for families, children and singles (possibally an IMAX theater in this project as well)

- multiple restaurants

- residential with as many as 250 units (rentals and luxury condos, also a potential high-rise)

- commercial/retail/shopping space (there are rumors that a supermarket could be in this. There is a chance major shopping chains could be involved given the nature of this project)

- office space (Gibbs envisions more office space than origionally planned. could this mean an office tower could be in the works?)

Those are just some elements of the project that have been release to the media. There could be even more to this project! The developers wanted to include space for the Atlantic Coast Conference college sports (ACC) Hall of Fame and Museum but apparently thats not a possibilty because of a current effort to build the hall of fame next to the Greensboro Coliseum where the ACC Mens & Women's basketball tournament is often held.

The project is currently HIGHLY classified and the city leaders that do know about it had to sign non disclosure agreements. The development company behind this project is based in Orlando, Florida and International investors as well as a local Greensboro developer are involved in the project as well. The developer is looking at downtown sites ranging between 4 and 12 acres (maybe more depending on how many joining parcels of land are combined) and a preferred site has already emerged. Ray Gibbs, former president of downtown Greensboro, Inc is directly communicating with the developers and he has said this project is like a "theme park" without roller coasters and water slides. Gibbs said the entertainment venues are very signifcant and would attract big time national acts. According to Ray Gibbs the developers intend for this project to be a destination for the "Southeast region" of the United States and when plans are finally revealed, "peoples jaws will drop". He also said this would change the dynamics of Greensboro and show that Greensboro can compete on a "national scale" Some sources in the know said this project can be larger than Epicenter (in Charlotte) and Peabody Place (in Memphis) combined. The project would be a new concept and if successful, the developers want to eventually do this in other cities around the country. The project was first announced May 1st and then it was said that developers would decide what to do within 2 to 3 months. Its now been a month and a half so we should hear the details of this mega project very soon! I know city council has been having alot of closed sessions lately! The city has a booming downtown nightlife with several nightclubs and a number of bars, restaurants and theater. Within 7 years Greensboro went from a completely dead downtown nightlife to one that rivals uptown Charlotte. Thanks to the man who started the nightclubs in downtown Greensboro "Joey Medaloni", he saw potential in Greensboro with the 20,000 plus college students that are on the outskirts of downtown within 4 colleges and universities. There are a number of different kinds of nightclubs from a comedy club to music clubs with rock, alternative, R&B, contemporary jazz, hip hop and there is even a disco nightclub called club inferno (http://www.infernogreensboro.com). If nightclubs are not your thing, you can see great plays at Triad Stage, watch an old classic movie at the Carolina Theater or relax at in Irish Pub or a Microbrewery restaurant called Natty Greenes. There is a great selection of restaurants and bar with over 40 restaurants in downtown Greensboro. Greensboro's nightlife has been so much of a success that many national known celebrities have droped in to places like "Much Restaurant". Bon Jovi would have private parties there and spent $30,000 there the first month it opened. Other celebrities that have dropped in there were Ashlee Simpson, the band members of Motley Crue and Nick Lachey and many more celebrities. The N Club is now a House of Blues network venues, the only one in the state and that MTV and the TV show Extra had done segments on Greensboro's nightlife. Girls Gone Wild even stopped at Greene Street Club last year. It could be that the buzz has reached the developers of this potential project which is why they see Great potential in Greensboro becoming a major destination. Greensboro is already seeing the light of day attracting upscale chain restaurants such as P.F. Chang's China Bistro and clothing stores such as Brooks Brothers.GOOD LUCK GREENSBORO!!

"Their goal is to create a destination for the region - The Southeast Region,"

"The concept of such all-in-one tourist/convention destinations - A KIND OF THEMEPARK WITHOUT ROLLER COASTERS OR WATERSLIDES - is an idea whose times is arriving Gibbs insists"

"if it can be accomplished, a project like this could truely change the dynamics of Greensboro. it will show that we can compete on a national scale."

"As soon as they get a letter of intent on some land, the plans will be announced," he says "Thats when PEOPLES'S JAWS WILL DROP"

"Gibbs insists to the astonishment and bewilderment of many, that a group of mostly INTERNATIONAL investors is absolutely serious about its desire to invest $150 million or $200 million into a COLOSSAL mixed-use project downtown"

If this is built, Greensboro will have 3 major convention facilities (The Koury Convention Center, The Greensboro Coliseum Complex, and the potential downtown convention center)

http://www.news-record.com/apps/pbcs.dll/a...C0101/305030004

http://www.news-record.com/apps/pbcs.dll/a...EC0101/70513001

http://www.bizjournals.com/triad/stories/2...ml?surround=lfn

http://www.myfoxwghp.com/myfox/MyFox/pages...mp;locale=EN-US

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Greensboro, North Carolina

urbanscraper

here is the full Triad Business Journal article

SKEPTICS SEEING MERIT IN GREENSBORO MEGA-PROJECT

Triad Business Journal
Greensboro, NC

As Ray Gibbs completes his tenure June 1 as president of Downtown Greensboro Inc, he does not intend to let go of the biggest project to come his way during eight years on the job.

Gibbs insists - to the astonishment and bewilderment of many - that a group of mostly international investors is absolutely serious about its desire to invest $150 million or more into a colossal mixed-use project downtown. It would cover 4 to 6 acres and include a cluster of mid- and high-rise buildings containing residential, office, hotel and entertainment space.

As the primary contact for the unnamed investor group, Gibbs says he will likely be retained by the group as he moves to his new job with a national development company. "they want me to stay with the project," says Gibbs, who will start working out of Mooresville later this month.

As with all such projects at this stage, secrecy preveils. Fewer than a dozen locals have been briefed. Mayor Keith Holliday knows a little as do mayoral candidate Yvonne Johnson and her rival, downtown developer Milton Kern. City Manager Mitch Johnson and his assistant City manager Ben Brown. Each has signed a nondisclosure agreement.

Gibbs, meanwhile, is at pains to persuade naturally skeptical, often doubting greensboro leaders that the project is viable and that the investors have mile deep pockets without actually divulging many details. Until land is put under contract, which could happen this summer, Gibbs is keeping quiet. Mostly.

"Their goal is to create a destination for the region - the southeast region," Gibbs says carefully. "They will be marketing to conferences and conventions, similar to Koury (Convention Center), though not on that scale. And the entertainment venues will be pretty significant. You're looking at things that would bring in national acts and appeal to people of all ages."

The concept of such all-in-one tourist/convention destinations - A KIND OF THEMEPARK WITHOUT ROLLER COASTERS OR WATERSLIDES - is an idea whose times is arriving Gibbs insists.

Shorter vacations, high gas prices and concerns about security are all conspiring to compel travelers to stay closer to home. The investors know, Gibbs says, that several million people live within a two hour drive of Greensboro. Its a prime central location, they believe, made more appealing by a revitalizing, downtown scene.

The investors obviously see something in Greensboro that locals rarely see themselves. Locals tend to scratch their heads and ask: If this is such a great idea, why the heck are you looking here?

"We have to show that we want them here," Gibbs says. "Bur that gets difficult when everyone immediately asks Why Greensboro? They hear that over and over. And they say "we're real. This is a good location. Why are you trying to talk us out of it?"

Holliday was among the skeptics. But this week, he says "Ive gathered more information, I can say without a doubt that the odds have improved substandtially. There is definatly a deal here. Whether it can be completed, i dont know. But its exciting, off the charts as far as im concerned."

Holliday optimistically predicts that Greensboro and the Triad better get used to such attention from outsiders. With high-profile economic development coups such as FedEx, Dell, Hondajet and Citicards, outside investors are following the trail to see what those corporation giants have bought into.

At City Hall, Johnson says the project and its investors are gradually gaining credibilty with him as he learns more about both. But he says from experience, "The bigger the project, the more ways you have that it can go wrong. I can foresee alot of things keeping it from happening."

Still he says the project might just fit nicely on a sprawling collection of parcels on either side of Church Street and East Friendly Ave near the Children's Museum where the city, the weaver Foundation and Lincoln Financial own land.

The city, he adds, would likely consider incentives such as infrastructure, upgrades to the site and perhaps even a parking deck- but only if investors can demonstrate the project's overall fiancial viabilty, would have the final say.

meanwhile, as Gibbs finishes clearing out his desk and prepares for two weeks off before starting his new job, he says, "if it can be accomplished, a project like this could truely change the dynamics of Greensboro. it will show that we can compete on a national scale." And exactly will the rest of us get to see what Gibbs has seen?

"As soon as they get a letter of intent on some land, the plans will be announced," he says "Thats when peoples's jaws will drop"

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Greensboro, North Carolina

urbanscraper

latest Greensboro News & Record article

Numbers increase for project downtown


ADVERTISEMENT
GREENSBORO — The numbers keep growing. And so do the possibilities.
The latest investment projections for a proposed, as yet unidentified, megaproject downtown could now top $200 million.

"That’s around the limit to where (the developers) want to go," said Ray Gibbs, who stepped down Friday as president of Downtown Greensboro Inc. "I don’t think it would (go up)."

Previous reports had indicated the multibuilding complex — which could employ up to 400 people — could range between $50 million and
$150 million.

The project, which could be the largest ever downtown, could include restaurants and entertainment venues; residential, office and retail space; and a high-rise hotel.

"It’s just some options that we are looking at now that we weren’t looking at before," Gibbs said of the increased investment. "And there has been some interest from some additional (developers) to help grow it."

Gibbs said a preferred site has emerged from four under consideration, but he would not identify it.

He said plans have progressed to the point that offers to purchase will be sent out in the next week to 10 days.

"An offer to purchase certainly adds a layer of credibility," said Bruce Cantrell, a downtown architect and a member of the DGI board of directors, who stressed he could not confirm any details about the project. "If that’s the case, it is moving faster than I anticipated. That’s great news."

As the project has progressed, additional details have emerged:
l Depending on the site and the amount of investment, the project could range from three buildings to seven. No square footage estimates have been determined.

* The luxury hotel could have between 300 and 600 rooms.

* The entertainment venues, and there might be several, could hold between 500 and 2,500 people. The complex would have multiple restaurants.

* The residential units could number between 150 and 250 and include a combination of rental units and luxury condos.

* There could be more commercial and office space than originally envisioned, but Gibbs could not provide specifics numbers.

* Other possibilities, including an IMAX theater, have been discussed.
"It’s neither in nor out," Gibbs said of the gigantic-screen theater.
"Because we are in such a conceptual basis, we have discussed all types of potential uses."

But at least one possibility has been eliminated. That’s space for a sports museum called the Atlantic Coast Conference Hall of Champions.

"I just thought (the museum) needed to be downtown, and they agreed," Gibbs said of his conversations with the developers. "That’s the closest it ever came to being in the mix."

Gibbs said he has been working primarily with two developers, one local and one from out of state, but he added that an unknown number of others from outside the area also are involved.

"How many investors there are, I have no idea," Gibbs said. "And I probably never will know."

To date, the project has generated a high level of skepticism.

"That’s because it’s such a big project," said Richard Beard, a partner with the commercial real estate firm Simpson, Schulman & Beard, who compared the complex with Roy Carroll’s $37 million rehab of the former Wachovia Tower on North Elm Street. "It’s Roy Carroll times five, times six.

"That’s a lot of something. What that something is, a lot of people are interested in finding out."

Gibbs said he understands the skepticism. He felt the same way in the beginning.

"I have known the project has been real for a while," Gibbs said. "It still may not happen, but (an offer to buy) shows these people aren’t out there just trying to jerk everybody around. It shows that they are serious about making this happen."

Gibbs said the developers could make offers on more than one parcel. He could not say what the land might cost.

Offers to purchase, also known as letters of intent, are nonbinding and are not contracts. But they lay out the terms for acquiring land and set the stage for a contract to be drafted.

Once a contract is completed and signed, a buyer would begin what is called his due diligence. That would include matters such a land surveys, soil borings, environmental analysis, site planning and market analysis.
Once those steps are completed and if everything is favorable, then the buyer would purchase the land.

Sites under consideration include the former Bellemeade Village property north of First Horizon Park; the county-owned Guilford Center at 201 N. Eugene St.; the Weaver Foundation property at North Church Street and Friendly Avenue, plus property across Friendly that is owned by the city of Greensboro and Lincoln National Corp.; and the southern portion of the News & Record's property on Washington Street that includes employee parking.

Gibbs said he expects something to happen quickly.

"It either happens in the next couple of months, or it isn’t going to happen," he said. "Either we put the parcels in play in the next 60 days, or the investment dollars are likely going somewhere else."

Gibbs said he hopes his departure from DGI will not hurt the project. He’ll soon go to work for a private company as a landscape architect and project manager.

He said he will be available to work with DGI as a consultant.

"I’m not completely walking away," Gibbs said. "I will probably be in the office Monday doing something on this project. I will probably never have a chance in my career to be involved in something this big again."

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Greensboro, North Carolina

urbanscraper

A few facts about Greensboro:

-founded in 1808
-population 243,000
-metro population 1.5 million
-third largest city in North Carolina after Charlotte and Raleigh
-city has the largest hotel between Atanta and Washington DC (Sheraton Four Seasons Hotel 1,017 guest rooms)
-birthplace and headqaurters location for the Atlantic Coast Conference
- 1960s Woolworth lunch counter sitins took place in Greensboro which started a nationwide movement


(famous people)
-home of American Idol Chris Daughtry - his MTV video "Home" was filmed mainly in downtown Greensboro
-home area of American Idol Fantasia Barrino
-home town of Olympic Gold Medal Speed Skater Joey Cheek
-African-American poet Maya Angelou lives in nearby Winston-Salem
-home town of Survivor contestants Kelly Wigglesworth from Season 1 and Jeff Varner from Season 2
-home town of CBS journalist Edward R Murrow
-home town of American short story writer William Sydney Porter (O'Henry) wrote the "Gift of the Magi"
-home town of presidential first lady Dolley Madison

Industry

- home of fortune 500 company VF Corp (maker of the Wrangler Jeans brand and many other well known appearal brands. also the world's largest appearal company)
- home of Lorillard Tobbaco Company (maker of Newport Cigarettes)
- North American Headquarters of Volvo Trucks of North America
- the main insurance division headquarters for Lincoln Financial
- world headquarters of Honda Aircraft Company (including a planned jet manufacturing plant)
- FedEx Mid-Atlantic hub
- home of computer chip maker RF Micro Devices
- Home of Market America
- Dell computer manufacturing plant (located in neraby Winston-Salem)

Attractions

- Wet 'n Wild Emerald Pointe Waterpark
- Grandover Resort
- Animal Discovery Zoo
- Natural Science Center
- Celebration Station
- Old Greensborough (downtown historic district)
- Triad Stage at the Pyrle Theater (downtown)
- Carolina Theatre (downtown)
- Broach Theater (downtown)
- Barn Dinner Theatre
- Weatherspoon Art Museum
- Greenhill Center for North Carolina Art
- Greensboro Children's Museum (downtown)
- Blandwood Mansion (downtown)
- Guilford Courthouse National Military Park

major events

-PGA Wyndham Championship of Greensboro
-ACC mens and womans basketball tournaments (also NCAA games)
-Internatiional Home Furnishings Market (in Nearby High Point-world's largest home furnishings market)

some images of downtown Greensboro

































Club Inferno






The N Club (a House of Blues network venue)

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Greensboro, North Carolina