The N&R expresses skepticism about the top-secret, $300 million downtown project. Note with interest who else is expressing some doubt:
When something sounds too good to be true … it’s possible to hope it’s true anyway.
A three-block, $300 million development tentatively called Greensboro Triumph Center has stirred plenty of excitement, and some caution.
……In this case, there’s been plenty to puzzle over since news began to dribble out months ago. Developers usually assemble pieces of property quietly. Why signal in advance what parcels are targeted and risk having to pay higher prices? Why does the size and shape of the project keep changing? Why propose a new convention center when existing facilities aren’t fully utilized? Or a flood of office space and luxury condominiums when the available supply seems more than adequate? And who’s behind it all anyway?
“It’s time for them to show the source of their money and quit hyping it,” said Jim Melvin, president of the Joseph M. Bryan Foundation and a former mayor who keeps a close eye on development. “Something about the thing doesn’t add up.”
It’s the worst kept secret in Greensboro that Melvin is the true power broker in this city, and if he says things don’t add up, then they don’t add up.
Take another look at the ‘details’ of this ‘iffy’ project:
* a multiuse complex that includes 150,000 square feet of prime office space; about 20,000 square feet of retail space; about 200 apartments and 50 luxury condominiums; a restaurant/entertainment venue; and a 1,000-vehicle parking deck.
This part of the development would include three connected buildings, the tallest of which would be about 18 stories.
The entertainment site could support national acts and seat more than 1,000 people, Gibbs said.
* a 500-room, four-star hotel and an attached, 200,000-square-foot conference center and shopping court. The hotel could be as tall as 20 stories and would include a restaurant, spa and parking deck.
* a 200,000-square-foot entertainment complex that could include a four-screen movie theater; a 20-lane “cosmic” bowling alley; a roller rink; 16 to 20 billiard tables; interactive games, simulator rides and children’s rides; and perhaps, a 3-D IMAX theater. This section would also have a parking deck.
Am I crazy to think this is overly ambitious? As I’ve said before, I thought the same thing about Bellmeade Village when it was announced. The lot still sits empty.
