after readindg the description of this project it seems like it could very realistically be a Downtown Disney epecially since some of the developers are from Orlando, Florida.
SKEPTICS SEEING MERIT IN GREENSBORO MEGA-PROJECT
Triad Business Journal
Greensboro, NC
As Ray Gibbs completes his tenure June 1 as president of Downtown Greensboro Inc, he does not intend to let go of the biggest project to come his way during eight years on the job.
Gibbs insists - to the astonishment and bewilderment of many - that a group of mostly international investors is absolutely serious about its desire to invest $150 million or more into a colossal mixed-use project downtown. It would cover 4 to 6 acres and include a cluster or mid- and high-ries buildings containing residential, office, hotel and entertainment space.
As the primary contact for the unnamed investor group, Gibbs says he will likely be retained by the group as he moves to his new job with a national development company. "they want me to stay with the project," says Gibbs, who will start working out of Mooresville later this month.
As with all such projects at this stage, secrecy preveils. Fewer than a dozen locals have been briefed. Mayor Keith Holliday knows a little as do mayoral candidate Yvonne Johnson and her rival, downtown developer Milton kern. City Manager Mitch Johnson and his assistant City manager Ben Brown. Each has signed a nondisclosure agreement.
Gibbs, meanwhile, is at pains to persuade naturally skeptical, often doubting greensboro leaders that the project is viable and that the investors have mile deep pockets without actually divulging many details. Until land is put under contract, which could happen this summer, Gibbs is keeping quiet. Mostly.
"Their goal is to create a destination for the region - the southeast region," Gibbs says carefully. "They will be marketing to conferences and conventions, similar to Koury (Convention Center), though not on that scale. And the entertainment venues will be pretty significant. You're looking at things that would bring in national acts and appeal to people of all ages."
The concept of such all-in-one tourist/convention destinations - A KIND OF THEMEPARK WITHOUT ROLLER COASTERS OR WATERSLIDES - is an idea whose times is arriving Gibbs insists.
Shorter vacations, high gas prices and concerns about security are all conspiring to compel travelers to stay closer to home. The investors know, Gibbs says, that several million people live within a two hour drive of Greensboro. Its a prime central location, trhey believe, made more appealing by a revitalizing, downtown scene.
The investors obviously see something in Greensboro that locals rarely see themselves. Locals tend to scratch their heads and ask: If this is such a great idea, why the heck are you looking here?
"We have to show that we want them here," Gibbs says. "Bur that gets difficult when everyone immediately asks Why Greensboro? They hear that over and over. And they say "we're real. This is a good location. Why are you trying to talk us out of it?"
Holliday was among the skeptics. But this week, he says "Ive gathered more information, I can say without a doubt that the odds have improved substandtially. There is definatly a deal here. Whether it can be completed, i dont know. But its exciting, off the charts as far as im concerned."
Holliday optimistically predicts that Greensboro and the Triad better get used to such attention from outsiders. With high-profile economic development coups such as FedEd, Dell, Hiondajet and Citicards, outside investors are following the trail to see what those corporation giants have bought into.
At City Hall, Johnson says the project and its investors are gradually gaining credibilty with him as he learns more about both. But he says from experience, "The bigger the project, the more ways you have that it can go wrong. I can foresee alot of things keeping it from happening."
Still he says the project might just fit nicely on a sprawling collection of parcels on either side of Church Street and East Friendly Ave near the Children's Museum where the city, the weaver Foundation and Lincoln Financial own land.
The city, he adds, would likely consider incentives such as infrastructure, upgrades to the site and perhaps even a parking deck- but only if investors can demonstrate the project's overall fiancial viabilty, would have the final say.
meanwhile, as Gibbs finishes clearing out his desk and prepares for two weeks off before starting his new job, he says, "if it can be accomplished, a project like this could truely change the dynamics of Greensboro. it will show that we can compete on a national scale." And exactly will the rest of us get to see what Gibbs has seen?
"As soon as they get a letter of intent on some land, the plans will be announced," he says "Thats when peoples's jaws will drop"
June 3rd, 2007, 4:24 pm
I know one thing, im dying to find out. Its driving me insane. This deal is as secret as some top secret government cover-up. I dont think the CIA could do a better job because as big as this is for downtown, nobody has found out yet. People are keeping their mouths shut like their lives depended on it.
