UPDATE2: Rendering of the future Greenway at Fisher Park apartments courtesy of Lomax Properties
UPDATE: This post originally stated that an apartment complex planned by Lomax Properties LLC will include 156 units. In fact, the company is building 196 units. The post also incorrectly identified the company receiving a reimbursement from the city as Lomax Properties LLC rather than Lomax Construction Inc. Both companies are owned by developer John L. Lomax. The incorrect information was taken from a resolution in city council members' agenda packet at last night's meeting. The contract, in contrast, correctly identifies the number of apartment units and the name of the company.
"If you’re wondering can we enforce the contract, the answer is yes, because the construction company will have to submit plans to the city for approval," said Assistant City Manager Tom Carruthers. "The initial plat already has 196 units on it."
ORIGINAL POST: The vote last night by Greensboro City Council was swift and unanimous to reimburse Lomax Construction Inc. in the amount of $217,812 to relocate a storm sewer line at the Old North State Chevrolet site (map) just north of NewBridge Bank Park, home to the Greensboro Grasshoppers minor league baseball team.
A previous developer had planned an ambitious mixed-use development at the site, but then the economy tanked in 2008. Lomax Construction plans to develop a four-building, 196-unit apartment complex on the site.
, according to the resolution approved by council. (The contract, in contradiction, references 196 units.)
State law allows cities to reimburse developers or private property owners for “public enterprise improvements that are adjacent or ancillary to a private land development project.”
Downtown Greensboro Inc. is publicizing a press conference at Lomax Properties offices, located at 700 Battleground Avenue, from 1 to 1:30 p.m. today. The press release indicates that building renderings will be shared.
Downtown Greensboro Inc. President Ed Wolverton says in a prepared statement characterizes the project as transformative and says it will “meet market-based, economic development goals for downtown.”
The site is along the path of the planned Downtown Greenway, and about a block from the site where Deep Roots Market plans to open a grocery store and deli.