The future of downtown Greensboro's most talked-about vacant lot is coming into sharper focus. The Community Foundation of Greater Greensboro is working toward redeveloping the former News & Record site on Market Street, with plans that could bring housing, retail and restaurants to the property — and an estimated $160 million or more in investment, according to the article's dek.
Former News & Record Site Moves Toward Redevelopment
As reported by Greensboro News & Record reporter Kevin Griffin, Center City Investors, LLC, which includes the foundation among its partners, purchased the property where the former News & Record building stood. A market analysis has since been conducted, and the property also has potential for hotels, the newspaper reports.
The acquired parcel is 6.65 acres, according to a release from the Community Foundation of Greater Greensboro, and is bounded by South Davie and South Church streets and East Market and East Hughes streets. A Triad Business Journal snippet refers to it as a 10-acre downtown site.
Foundation Eyes Early 2027 For A Development Partner
The foundation developed its vision for a mixed-use project after consulting stakeholders. The foundation hopes to select a developer early in 2027, according to foundation president Walker Sanders.
Sanders has said the right development at the site is important to Greensboro's future, and that the project could catalyze activity on Church Street and in the eastern part of the community. Elsewhere, Sanders has told the Triad Business Journal that the foundation plans to meet with developers in November as it works toward that early-2027 selection.
City Leaders See A Catalyst For Downtown's Eastern Edge
Greensboro Mayor Nancy Vaughan has called the site the most valuable piece of property available in downtown Greensboro, according to the Greensboro News & Record. The redevelopment could help attract people to the eastern side of downtown and the city more broadly — a framing that echoes separate comments Sanders gave to FOX8 WGHP, in which he said the project could catalyze other opportunities up and down Church Street and East Market Street, connecting into North Carolina A&T.
FOX8's report also describes a vision that includes a mixed-use community hub with offices, retail, collaborative workspaces, public event venues, housing for the city's growing workforce, and public green spaces, with Sanders saying he expects the hub to see more than 350 days of activity every year. The station reports Sanders is looking for a developer who shares the foundation's vision for a community-focused build, with plans that include housing, hotels, restaurants and storefronts in a walkable setting.
A Building With A Complicated Recent Past
The site's path to this point has not been simple. The former News & Record building at 200 East Market Street was condemned and demolished in 2024, according to WFMY News 2. Ownership of the property has also shifted: the Community Foundation of Greater Greensboro's own release describes the purchase of the 6.65-acre parcel through Center City Investors, LLC, whose investors include the foundation itself, the Joseph M. Bryan Foundation, the Cemala Foundation, and several local individuals.
Separately, the Greensboro News and Record has reported that the property was sold to the Community Foundation of Greater Greensboro for $6.65 million.
