According to the head of Downtown Greensboro Inc., if you’re an apartment developer you really need to look at the Gate City’s downtown for your next project.
Downtown Greensboro could support more than 300 new apartments, a local economic development group says. There’s just one problem: Developers aren’t lining up to build in the central business district…
So Downtown Greensboro Inc.’s Chief Executive Officer Zack Matheny is going on a campaign to attract residential developers to what his group says is prime real estate.
Matheny has identified 17 sites where apartments might be built — most of them aren’t for sale — and is hoping to meet with real estate developers, property owners and builders to capture their interest.
Matheny has based his sales pitch on a 99-page survey his agency commissioned earlier this year that shows, despite 289 apartments now under construction, there is demand for 329 more. He said he would like to see a mix of upscale and affordable housing to make downtown a place where people of diverse income and professions could live.
And Greensboro hasn’t kept up with other cities of similar size:
Matheny looks at cities similar to Greensboro and wonders why it can’t attract more downtown residents. For example, Greenville, S.C., has 5,000 downtown residents and 2,293 apartments in development. Charlotte has 26,000 downtown residents and nearly 9,000 apartments in development. Even Winston-Salem, which is smaller than Greensboro, has nearly 3,000 downtown residents and nearly 1,300 apartments under development.
So, if you’re looking to build, the folks in Downtown Greensboro would love to talk to you.