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GREENSBORO, N.C. — Developer Roy Carroll announced on Wednesday what he described as the “largest downtown Greensboro development.”

The Carroll Companies plans to make an investment of more than $140 million for a development referred to as Carroll South of Ballpark.

This three-phase project will begin in the fourth quarter of 2020.

Carroll South of Ballpark will feature 280 luxury residential units, as well as tens of thousands of square feet of retail and restaurant space, a 150-room Aloft Hotel and a 20-story office tower.

Phase 1 will include 12,000 square feet of retail and restaurant space, possibly including a grocery store, and the hotel, which is set to include a rooftop bar and a pool.

Phase 2 will add 17,000 square feet of retail and restaurant space and 13,000 square feet of first-class meeting space for conferences, weddings and similar events.

Phase 3 will focus on the office tower, planned to stand at 20 stories with at least 180,000 square feet of space.