Title
Resolution Authorizing the Sale of Land via a Sales/Development Agreement in the Amount of $517,000 for Sites in the Ole Asheboro Redevelopment Area Between the City of Greensboro, the Redevelopment Commission, and Prestwick Development Company Land Acquisition, LLC
Body
Department: Planning
Council District: 2
Public Hearing: No
Advertising Date/By:
Contact 1 and Phone: Sue Schwartz, 373-2149
Contact 2 and Phone: Russ Clegg, 373-2211
PURPOSE:
Resolution authorizing a Sales Development Agreement between the City of Greensboro, the Redevelopment Commission of Greensboro and the Prestwick Development Company Land Acquisition, LLC (Prestwick) for property in the Ole Asheboro Redevelopment Area at 920 Pearson Street., 526 Douglas Street, 326 East Gate City Boulevard, and 328 East Gate City Boulevard.
BACKGROUND:
The properties covered in this Agreement are located in the Ole Asheboro Redevelopment Area, and are more specifically part of Martin Luther King, Jr. Drive North Traditional Neighborhood Initiative. This Sales Development Agreement covers property owned by the City of Greensboro and the Redevelopment Commission of Greensboro. Additional property owned by the Greensboro Housing Development Partnership at 802 Pearson Street will be developed according to a separate Sales Development Agreement, in conjunction with the properties under the agreement being considered by City Council. All of the properties will be developed in coordination with each other as part of the Ole Asheboro Redevelopment Plan and the Martin Luther King Jr. Drive North Initiative.
The Redevelopment Commission of Greensboro owns 526 Douglas Street. The City of Greensboro owns 920 Pearson Street, which is directly to the north across Douglas Street from 526 Douglas Street.
The City of Greensboro also owns 326 East Gate City Boulevard and 328 East Gate City Boulevard. These properties will be developed in conjunction with property owned by Greensboro Housing Development Part...
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