The City of Greensboro sent out a news release announcing progress on the proposed Pyramid Village mixed-use development at US 29 and Cone Boulevard.
The news release posted on the City of Greensboro website is a copy of the news release from the Ryan Companies US Inc.
The news releases state, “Ryan Companies US, Inc., a national commercial real estate solutions provider, today announced that work is underway to develop the remaining 30-acre parcel of land located in the Pyramid Village commercial district.”
In 2020, Don Linder, who owns the 30-acre site, and former City Councilmember and current candidate for lieutenant governor Jim Kee presented plans for developing the site, which was to be anchored by a hotel, to the City Council and requested the city pay 10 percent of the development costs. At the time councilmembers said it was too early to make a commitment.
There is no mention of a hotel in the news release that states, “The anticipated mixed-use development will encompass multiple asset classes including healthcare, retail, multi-family, and hospitality and will feature a site layout that complements the current existing commercial uses in the area, including national retail anchors Walmart and Lowes.”
Mayor Nancy Vaughan is quoted in the news release stating, “Once again, as a City Council, we are making good on our commitment to support equitable investments. For years we have been waiting to develop this valuable property. This plan is in lockstep with our vision for East Greensboro.”
District 2 City Councilmember Goldie Wells, who represents the area, said in the press release, “This development will present impressive offerings for retail, housing and new jobs on the East side. We welcome this public-private partnership and the transformative impact it will have on District 2.”
However, as far as the “public-private” partnership is concerned, the City Council has not approved any funding for this proposed development.
Vice President of Real Estate Development at Ryan Companies Connor Lewis said, “Ryan Companies believes in Greensboro and wants to invest in its future by creating transformative projects in collaboration with our local partners and the city. The Pyramid Village commercial district is a great opportunity for our team to contribute to the city’s ongoing revitalization effort.”
“Invest in our future” with public money. Does the public get a 10% share of ownership? Or perhaps 10% share in a new REIT?
I have visited this area a few times, even back to the time there was a mall with an ice-skating rink (long time). This area reminds me of way out on East Lee St. A desert of failed & pedestrian businesses.
Who would invest major bucks in such a location?
Today, I drove by the massive construction off 421 south, just into the Rockingham country line. Close, but purposefully out of this County.
So the city wants to waste our money yet another too-bad-to-succeed project? Make work and goodies for the faithful.
What? Randolph county dunce and it’s close because the state wouldn’t allocate the money to Guilford county for the project so Toyota wanting to still be in proximity to Greensboro dumped right outside the county line. No where in Asheboro and barely in liberty. And it’s called and considered the greensboro-Randolph mega site. We won the Bid the GA wants you guys to have industry so bad they direct funds away from the places that matter
Betting the east greensboro city council will graciously fund with your tax dollars. Get your auditors ready.
Proposed Pyramid Village Development Project. Certainly hope our City Council is not foolish enough to invest in this project which means they probably will? This area of town is not safe during the day much less at night! Do your Homework Leaders, a synopsis of crime reports in this area will tell you all you need to know!
So. You think poverty non home ownership higher crime rate lots of curtin climbers with my baby daddies roach infested properties is winning. Have at it. I’ve watched Greensboro march this way since the early 70’s started on East Market moved on to the Grove at Julian and Best then to Asheboro St. or MLK then to Glenwood then 4 Seasons the plague continues I don’t care have at it. Hells
coming and I can’t wait to see the fireworks
Top 10 highest percentage of black homeownership in the country, and one of the largest HBCU’s in the county. Nothing but black excellence here.
NO. Just NO.
Equitable investments, Vaughn? Please define equitable investments. A “public-private” relationship should not involve giving tax money to private investors. A public-private investment should mean that if a PRIVATE investor invests in a community, the PUBLIC (government) will provide a safe environment through a well-trained and adequately staffed police force, good schools, and a local government whose elected members recognize the importance of good governance, including spending taxpayers’ money wisely and not for the benefit of a few.
Taxpayer money should never be used to pay private investors. Jim Kee should abandoned his run for political office. Anyone who supports giving public money to private investors is not worthy of holding any public office.
Thirty years in our past this area was a nice safe place to shop. A lot of things in my home were purchased at the retail stores at the mail and other stores around the mail. AND things changed that made the area undesirable and unsafe to live, work, and shop anywhere around the area. WHY does anything think that anything can be done to change the way people live, work, and shop in an area that has become such a poor unsafe location after all these years and behavior around this area? The same behavior has NOT changed and will continue. The same environment will remain and will continue also. What a waste of time and money!!!!! If only the locale atmosphere could be improved, but things will NOT change.
Ummm have you been there it’s a bustling shopping center that is Walmart and Lowe’s anchored, maybe you should continue spitting sunflower seeds off your porch and leave the developing to the big boys.