GREENSBORO, N.C. -- Without much discussion or debate, the City of Greensboro’s Redevelopment Commission has agreed to push forward a three-option plan that would ultimately replace the Heritage House with a business park.
The now-closed condominium complex near the corner of Randleman and Meadowview roads was condemned by the city July 2014.
Since then, the city has discovered numerous structural, electrical and plumbing issues.
It’s estimated that renovating the building would cost close to $17 million but demolishing the 177-unit building would cost a little over $1 million.
In April, city employees developed a plan that would replace the condominiums with a business park. The three options allow elected leaders to add to the business park idea by tacking on a senior center or an indoor athletics complex in addition to the business park.
The estimated cost of buying the condominiums from the current owners, demolition and redevelopment is $2.6 million.
City employees recommended using $1.2 million in city reserves and $1.4 in property tax money that’s set aside every year to help pay for affordable housing to pay for the project.
Sue Schwartz, planning director for the Cty of Greensboro, said the property acquisition and demolition could take up to two and a half years and complete redevelopment of the site could stretch out for up to seven years.
The plan now moves to the city council which will get its first look at the plan in two weeks and will also be added to the September meeting.