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Old 02-22-2008, 07:24 AM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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Looks like there are 3 hotel proposals for downtown Greensboro in addition to a high-rise boutique hotel being proposed by a Charlotte developer


Greensboro investors pitch plans for 3 hotels

GREENSBORO — Three groups interested in building hotels in the city center have approached the new president of Downtown Greensboro Inc. during his first three months on the job.

“It’s a very healthy interest,” said Ed Wolverton, who replaced Ray Gibbs at DGI on Dec. 3. “All three are still in a conceptual stage. ...No time frame has been laid out.”

So far, specifics on only one of the projects are available.

A group of local business leaders said this week it’s exploring the possibility of building a full-service, conference hotel at the southwest corner of Davie Street and February One Place, where the privately owned Elm Street Center parking deck now stands.

The same group owns the adjacent Elm Street Center, which houses the Empire Room and the Regency Room, two large meeting and banquet spaces that would be used by the proposed hotel.

“It would become a downtown conference hotel,” said Randall Kaplan, managing partner of the Elm Street Center. “It puts it all together — a premier banquet space and a premier hotel.”

His group has commissioned a feasibility study that should be complete in about two months.

Leaders of the group won’t say how much they’re prepared to spend. They also can’t say how many rooms the hotel might have, how tall it would be or what corporate name it might carry.

“We are evaluating all those issues,” Kaplan said. “All those things come out of the feasibility study.”

Other participants in the approximately 12-member group include downtown developer Milton Kern and chef Brad Semon. Kaplan said the group has been talking about a possible hotel project for about a year.

“There is an increasing demand for a very nice hotel downtown,” Kaplan said. “At some time, there will be a great need....Downtown has become a more vibrant place.”

Wolverton called Kaplan’s proposal “a very exciting project on a number of levels.” Among other things, the project would increase pedestrian traffic along Davie Street, an area now dominated by cars and trucks.

The center city currently has three hotels: the Marriott Downtown, a full-service hotel at 304 N. Greene St.; the Biltmore Greensboro Hotel, a boutique property at 111 W. Washington St.; and the Greensboro Inn, a budget hotel at 135 Summit Ave.

Collectively, they offer about 250 rooms.

Wolverton said downtown’s three hotel prospects include two full-service operations — ones that include a restaurant and 24-hour room service — and one limited service property.

None of those proposals were among those that made headlines last year, including the possibility of a $30 million high-rise that would include a boutique hotel with 60-80 suites and the 20-story 500-room, four-star hotel mentioned in downtown’s so-called “mystery project.”

Efforts to obtain updates on those projects were unsuccessful.

In late 2006, a South Carolina company backed away from plans to build a $13 million Hampton Inn & Suites at the corner of McGee and Greene streets.

“I think there are some people who have a great idea and they try to make the (financial) numbers work and they are not working,” said Henri Fourrier, president of the Greensboro Area Convention & Visitors Bureau.

Kaplan said he doesn’t feel his group is in competition with other possible projects.

“We don’t feel like there is a race,” he said. “We are going to assess the market and then make a decision on whether it makes good sense for Greensboro and the investors.

“It’s a great place to build a hotel. The question is whether the timing is right.”
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Old 02-26-2008, 09:36 AM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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Officials: Proposed Greenway to cost $26 M

GREENSBORO — Bicentennial Commission officials told the City Council Tuesday that the proposed Downtown Greenway, a 4.8-mile recreational loop around the center city, will cost an estimated $26 million.

Commission members said money for the project — a paved path for walking, running and biking — will come from state funding sources, federal programs, local foundations and local bonds.

The cost includes $17 million for the trail and transportation improvements, $3 million for parks that will be built along the trail, $5 million for ones that could be built in the future and $1 million for operations.

Groundbreaking for the first section, which will run south of Lee Street through the Warnersville community, will be held this spring as part of the city’s bicentennial celebration.

The Greensboro Bicentennial Commission has adopted the development of the greenway as its commemorative project. Work on the trail could take five to 10 years to complete.

After an update on the project Tuesday morning, the city council approved a resolution of support by a 7-0 vote.

map of greenway (also highlights the proposed "Rail Yard Park" next to CityView Apartments at Southside)

http://mm.news-record.com/legacy/news/08/greenway.pdf (broken link)

I think this is a great project for downtown Greensboro and it would spur more residential projects the center-city.
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Old 02-29-2008, 09:10 AM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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looks like GSO developer plans last stage of downtown Southside project

After several years and millions of dollars, developer Bob Isner is planning his last project for the Southside neighborhood, the neotraditional development in downtown Greensboro.

The latest addition to the redeveloped neighborhood which already includes retail shops, town homes, lofts and apartments in the Southside community, as well as the adjacent CityView apartments, is FountainView, a 14-condominium development set to start construction in a few weeks.

FountainView, where units will start around $199,990, will be built on Arlington Street. Condos will be 1,270 square feet and will come with hardwood floors, granite countertops, detached garages and an interior elevator, making the building accessible to a wider range of tenants, from young professionals to retirees, said Michelle Porter, Realtor with Yost and Little Realty Inc., which is marketing the project.

Once the project is in the framing stages, she said, they will start showing units for sale. Construction, which will be handled by project partner Berkley Hall Construction, will take about five months and the condos should be ready by the fall, said Isner, who helped develop CityView and handled building in the Southside community.
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Old 02-29-2008, 09:36 AM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,717,785 times
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Quote:
Originally Posted by gsoboi View Post
looks like GSO developer plans last stage of downtown Southside project

After several years and millions of dollars, developer Bob Isner is planning his last project for the Southside neighborhood, the neotraditional development in downtown Greensboro.

The latest addition to the redeveloped neighborhood which already includes retail shops, town homes, lofts and apartments in the Southside community, as well as the adjacent CityView apartments, is FountainView, a 14-condominium development set to start construction in a few weeks.

FountainView, where units will start around $199,990, will be built on Arlington Street. Condos will be 1,270 square feet and will come with hardwood floors, granite countertops, detached garages and an interior elevator, making the building accessible to a wider range of tenants, from young professionals to retirees, said Michelle Porter, Realtor with Yost and Little Realty Inc., which is marketing the project.

Once the project is in the framing stages, she said, they will start showing units for sale. Construction, which will be handled by project partner Berkley Hall Construction, will take about five months and the condos should be ready by the fall, said Isner, who helped develop CityView and handled building in the Southside community.
That is cheap to live in a city center. The key is to get in early. We bought an 850 sq ft Loft in Uptown Charlotte in 2001 (4th resident in our building) for 165,000 and now it is worth over $300,000.

To live is that much square footage in Charlotte's Uptown would probably start at about $350,000.

Sounds like a good deal! Is the location good though?

Last edited by the 7 oh 4; 02-29-2008 at 09:50 AM..
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Old 02-29-2008, 10:06 AM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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It is a good deal and getting in early is key! When you sell, you get more back on your investment. But there are also more expensive townhomes in the same neighborhood. The "New Orleans style" townhomes are $500,000. It does get even more expensive in downtown Greensboro. Penthouse units for the new Center Pointe condo tower are selling for well over $3 million! Roy Carroll, the developer of Center Pointe will live on the top two floors as one big unit and his condo will have a two story waterfall inside.
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Old 02-29-2008, 12:44 PM
 
Location: Uptown CLT (4th Ward)
2,560 posts, read 7,717,785 times
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Quote:
Originally Posted by gsoboi View Post
It is a good deal and getting in early is key! When you sell, you get more back on your investment. But there are also more expensive townhomes in the same neighborhood. The "New Orleans style" townhomes are $500,000. It does get even more expensive in downtown Greensboro. Penthouse units for the new Center Pointe condo tower are selling for well over $3 million! Roy Carroll, the developer of Center Pointe will live on the top two floors as one big unit and his condo will have a two story waterfall inside.
Can we say NICE!

They are suppose to build these condo's in Uptown Charlotte where the Penthouse is 8,000 square feet and $10 million. The cheapest unit in the building is $1 million. That is ridiculous!

I think it is a good thing for Greensboro. I know that Winston-Salem has also built several residential projects downtown too. I am glad it finally caught on in the Triad. It brings the center city alive. Charlotte's Uptown has been booming for the last 10 years! Wish it would slow down some. Traffic is a nightmare here. If you are ever stuck on I-40 in Greensboro and complain about traffic...just say to yourself "I could be in Charlotte and dead stop on I-277, I-77, I-85 and I-485"...all area a nightmare. Glad I live Uptown and walk to work.

Jeff Gordon currently lives in Uptown Charlotte and lives in "The Greens". His place only cost a few million. I bet he moves to the new tower.

Also Donald Trump is talking about building a highrise in Uptown Charlotte. He wants it to be between 80-100 stories he said. Of course he wants to top the 60 story Bank of America Building. He doesn't want to be out done. We will see if it happens.

Have a GREAT day!
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Old 02-29-2008, 01:35 PM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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cool! In alot of these projects you are paying for location so it doesnt surprise me one bit to see condos sell that high in uptown Charlotte. Its great to see that cities in North Carolina are really moving forward have a good day.
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Old 02-29-2008, 06:21 PM
 
Location: Not Weird, Just Mildly Interesting
392 posts, read 410,214 times
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Greensboro residents:

How has the development to date affected the GSO area? Is it positive? Negative? Meh?

How bad was it before they overhauled it?

How much better is it now?

Have they been smart about it? Did they remember to put in parking?

I ask all this because they've (over)developed my hometown to death. They've built all this stuff around a fake lake, but they seem to have forgotten parking.
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Old 02-29-2008, 06:45 PM
 
Location: Greensboro
627 posts, read 1,863,348 times
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1) If you mean the development of upscale condos, then Meh. Downtown Greensboro does not have the downtown life to command the $200-$300 price tag.

2) Overhaul? They have just begun.

3) Marginal at best.

4) Parking at night is not good. You will have to park several blocks away.

Sorry to sound like a negative Nelly, but I have lived here 30+ years and basically the only major downtown improvements have been a park and the baseball stadium.


Quote:
Originally Posted by Leaving Arizona View Post
Greensboro residents:

How has the development to date affected the GSO area? Is it positive? Negative? Meh?

How bad was it before they overhauled it?

How much better is it now?

Have they been smart about it? Did they remember to put in parking?

I ask all this because they've (over)developed my hometown to death. They've built all this stuff around a fake lake, but they seem to have forgotten parking.
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Old 03-01-2008, 11:53 AM
 
Location: Downtown Greensboro, NC
3,491 posts, read 7,859,236 times
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Quote:
Originally Posted by d_Random View Post
1) If you mean the development of upscale condos, then Meh. Downtown Greensboro does not have the downtown life to command the $200-$300 price tag.

2) Overhaul? They have just begun.

3) Marginal at best.

4) Parking at night is not good. You will have to park several blocks away.

Sorry to sound like a negative Nelly, but I have lived here 30+ years and basically the only major downtown improvements have been a park and the baseball stadium.
I disagree in some regards. Greensboro's downtown nightlife has blossomed over the past several years with the opening of new restaurants, bars, nightclubs and Triad Stage. There are even talks of building a small grocery store in Southside next to CityView Apartments. Depsite the perception, people are buying $200,000 to $300,000 condos in downtown Greensboro. Of course they are not buying at the rate they are doing in uptown Charlotte. But downtown Greensboro is on the upswing and its the reason many people including myself moved downtown.

The momentum is building because there are plans for a condo project in Southside called FountainView. A Charlotte developer is planning a high-rise luxury condo/boutique hotel project and there are at least three more developers considering hotel projects for the center-city. Plannerss of the downtown Greenway, which will loop around downtown, will break ground this years. DGI has reported that there are several big projects in the works for downtown that could be announced this year. Most of those are office projects according to DGI. I do know that over the past several years, office vacany in downtown Greensboro has dropped and the newer towers are starting to fill up. So there may be a few mixed-use office towers on the drawing board. We'll see
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