The Greensboro City Council is scheduled to approve yet another developer for the Union Square redevelopment project at the Tuesday, Sept. 20 meeting.
In April 2021, the City Council unanimously approved contracting with REA Ventures Group to build a mixed-use development on the 2.5-acre site on the corner of Gate City Boulevard and South Elm Street adjacent to the Union Square building.
When the contract was approved, it was stated that construction on the proposed mixed-use development project would begin in May 2022, when the lease on a cell tower on the site expired.
The new proposal for the development of the site replaces REA Ventures Group with NC Triad South Elm LLC as the component developer.
The proposed agreement also reduces the number of apartments in the mixed-use development from 250 units to 150 larger units. The amount of ground floor commercial space in the mixed-use development has been reduced from 2,000 square feet to 1,000 square feet.
The proposed development includes a four-story, 250-space parking garage directly behind the current Union Square building.
The apartment buildings are to be four story and will wrap around an interior courtyard and the requirement for a “public plaza” has been eliminated.
Construction is set to begin within 365 days of the effective date of the contract and be completed within three years.
One condition is that the City of Greensboro secure the appropriate approvals to allow parking on the property, referred to as “Gray’s Property.” If the city does not get that approval, the developer has the option of terminating the agreement.
When the previous development agreement for the Union Square property was approved, it was continued twice by the City Council before being approved on April 6, 2021. One vote for a continuance was passed 5-4. It is extremely unusual to have a split vote on a motion to continue.