Center City Partners, LLC Acquires Downtown Greensboro Site for Development

Center City Investors, LLC, created by The Community Foundation of Greater Greensboro’s Real Estate Management Fund, today announced the purchase of a 6.65-acre parcel of land, formerly the site of the News & Record. This landmark acquisition will build on the revitalization of Greensboro’s urban core and expand its footprint into the east side of downtown.

Center City Investors, LLC is a partnership between several foundations and individuals that share a collective vision of the significance that this property will play in revitalizing downtown, the community, and the Piedmont Triad region.  It is their intent to bring the property under local control to ensure the highest and best use reflects the community. The investors in Center City Investors LLC are the Community Foundation of Greater Greensboro, The Joseph M. Bryan Foundation, The Cemala Foundation, Durant and Mary Katherine Bell, Megan Oglesby, Matt Penley, and Mark Penley.

“Our mission has always been to strengthen our community for present and future generations,” said Walker Sanders, President of the Community Foundation of Greater Greensboro. “Securing this significant property allows us to work with the City of Greensboro, Downtown Greensboro, Inc., and other important community partners to facilitate a vibrant center city development that reflects the spirit and aspirations of our entire community.”

The property, bounded by S. Davie and S. Church St. and E. Market and E. Hughes St. holds one of downtown’s largest development parcels. Future plans could include:

• A mixed-use community hub combining offices, retail shopping, collaborative workspaces, and public event venues;
• Housing units to expand living options for Greensboro’s growing workforce; and
• Public green spaces and pedestrian pathways that expand and connect the city’s cultural district beyond Elm St.

“This purchase represents more than a real estate deal,” said Mr. Sanders. “It’s an investment in the long-term vitality of our city center and a bridge to nearby neighbors that include great small businesses, historic neighborhoods, and North Carolina A&T. We look forward to partnering with local leaders, developers, and residents to make this vision a reality.”