This sounds great, but I wonder if it strikes a blow to the chances of Project 561 being built?
"A dynamic new downtown office tower is coming to Greensboro in an unexpected spot overlooking First National Bank Field. Leadership of Gemcap Cos. and Carolina Investment Properties told Triad Business Journal their companies will develop a nine-story tower on four-tenths of an acre next to the home of the Greensboro Grasshoppers at the corner of Eugene and Bellemeade streets in a “50-50 joint partnership.
Tuggle Duggins law firm has committed to a “long-term” lease to occupy the top two floors and approximately half of the seventh floor. “We really wanted to be part of something impactful,” Managing Partner J. Nathan Duggins III said. “We want to be part of a new era in Greensboro.”
The building, the tallest office tower built in downtown Greensboro since the Lincoln Financial Building was built in 1990, will add to a neighborhood that should soon be a hub for activity.
"This area is booming," said Downtown Greensboro Inc. President Zack Matheny. "We're finally achieving the growth that has been pent up."
Developer Roy Carroll is currently building a Hyatt Place hotel and 300 apartments at his Carroll at Bellemeade development. Only a few blocks away, ground has been broken on the $80 million Steven Tanger Center for the Performing Arts. And Carroll owns land at 201 N. Eugene, where Starwood Hotels & Resorts has listed as an Aloft hotel location scheduled to open in 2020.
On May 2, Greensboro City Council agreed to a Downtown Development Agreement with Carroll to build a 1,050-space parking deck in the Eugene-Bellemeade area that would be turned over to the city to own and manage. Under the agreement, Carroll could lease up to 450 spaces and the ballpark building developers could lease up to 350 spaces — each at “market rates” in the $30 million public portion of the deck."
http://www.bizjournals.com/triad/new...989&j=78247811