Former News & Record Property Acquired for Greensboro City Center Redevelopment

Center City Investors, LLC includes several foundations and local individuals, including 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. The group said its goal is to keep the property under local control and ensure its development reflects the needs and aspirations of the community.

Walker Sanders, president of the Community Foundation of Greater Greensboro, called the purchase “an investment in the long-term vitality of our city center” and said it will allow collaboration with the city, Downtown Greensboro Inc., and other community partners.

The property, bounded by South Davie and South Church streets and East Market and East Hughes streets, is one of downtown’s largest available development parcels. Planned uses could include a mixed-use community hub with offices, retail, collaborative workspaces, public event venues, housing for the city’s growing workforce, and public green spaces connecting the cultural district beyond Elm Street.

“This is more than a real estate deal,” Sanders said. “It’s a bridge to nearby neighbors, including small businesses, historic neighborhoods, and North Carolina A&T, and a step toward realizing a vibrant center city for everyone.”