Green on Canada Dry

In an upcoming article for Yes!Weekly, Jordan Green – as is his way – does some real investigative reporting on the city’s possible purchase of the old Canada Dry building.

Previously on the market for $3.2M, the price has now been lifted to $3.7M.  City Manager Mitch Johnson, however, is balking at the new price and the environmental concerns.  From the article…

“If $3.7 million is right, I would have trouble recommending it,” he said. “I told the council we had sources of revenue for the $3.2 million, which I think is a fairly rich price.”

Johnson added that the Spences would have to clean up the site before the city considered buying it.

“The bottom line is council is not interested unless the environmental issues are cleared up,” he said, “and even then I’m not sure.”

Much of Green’s article deals with the environmental problems that have been identified by various public agencies and the efforts to date to deal with them.  The Spence family has agreed to clean it all up – but at the higher price.  In addition, The Bryan Foundation has committed $200,000 to rid the building of lead paint and asbestos should the city buy the place.  All of it was news to me.

All in all, the Yes!Weekly article is the best reporting I have seen on the issue.

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10 Comments

  1. Posted May 12, 2007 at 10:18 am | Permalink

    Real estate on High Point Road is depressed. Eventually, the property will be as cheap as buildings downtown once were. When investors can purchase buildings cheaper than their renovation expenses, it will happen. Just as Downtown Greensboro happened without government support.

  2. Posted May 12, 2007 at 10:56 am | Permalink

    dont go handing out awards to Jordan Green just yet…I am hardly finished

  3. askinga?
    Posted May 12, 2007 at 1:49 pm | Permalink

    This is probably a dumb question…but why don’t they build the HOF at the corner of the Coliseum property right across from the CD building.
    Nobody parks there anyway, the HOF building can’t be that big…and they already own the property.

  4. Posted May 12, 2007 at 2:18 pm | Permalink

    Hey Don,
    Are you kidding? Think about all the government money that has been spent downtown. I can’t see wwhat I am writing on this blog, or I would give you a partial rundown of money wasted downtown .

  5. Brenda Bowers
    Posted May 12, 2007 at 3:14 pm | Permalink

    Don, If you wsant tio see just how much the city council has given and continue to give downtown got to my poists of August 18 and 21, 2006. All reference to city budget and N&R reports so you can check my facts. City Coucil has given down town and Center City Park big bucks but it is hidden in the budget.

  6. Brenda Bowers
    Posted May 12, 2007 at 3:18 pm | Permalink

    If I remember Ben’s report last year it was Mitch Johnson who told the owner’s agent that the city was willing to pay $3.2 million. This raised a few hackles. In fact, I believe you were also upset about this David and had a post on it,or it was mentioned in a post. BB

  7. meblogin
    Posted May 12, 2007 at 6:52 pm | Permalink

    It sounds like the city should have bought sooner and had a good savings. How many properties do not go up in value over time?

    I wonder if the sellers have another bidder?

    The dynamics seem to me to be that if each resident (man, woman, child) pitches in $5 each…then this is an easy win win for the citizens, High Point Road and our good city’s future.

    location, location, location —It is we that lose if we don’t own “all” the property near the coliseum. It will need to be able to expand as the need increases.

    thanks

  8. Posted May 14, 2007 at 11:10 am | Permalink

    Askinga, I believe Keith Holliday is advocating just what you propose. At the briefing last Tuesday he said the city could buildi the ACC Hall of Fame on land it already owns across the street from Canada Dry, specifically a parcel that had been set aside for the swim center (rejected by voters on last year’s bond referendum). So many facets of this story, I couldn’t include everything.

  9. meblogin
    Posted May 14, 2007 at 10:23 pm | Permalink

    I hope that Greensboro finds a way to make this property make good sense for all of us.
    Some believe that our city should be run like a business always chasing the best deal. I believe that cities should be run with very long range goals that see the opportunity today that in years to come will be viewed as a great deal for all.

    It would be sad to see us lose control by another buyer seeing the long term opportunity.

    In my opinion we have to be more than competitive with other large southern cities. We need to bring more business to our great city. This can help.

    Greensboro is a wonderful place!! (…High Point Road needs a little help…sigh…)

    thanks,

    meblogin

  10. Posted May 16, 2007 at 6:39 pm | Permalink

    There is new information that has been posted at the Yes Weekly site pertaining to the clean up of this site. It is much more positive than earlier reports. I have created a post at my blog that has the link.

    My guess is that Greensboro needs to move quickly or lose this valuable opportunity to a commercial developer. Knowing the luck of High Point Road in recent years…the buyer will turn it into a flea market or an adult entertainment business…sigh…

    Thanks,
    meblogin

2 Trackbacks

  1. [...] Hoggard and Cone link to Jordan Green’s Yes!Weekly article on environmental problems at the Canada Dry building, with Hoggard calling it “the best reporting Ihave seen on this issue.” Forget whatever people might conclude about the N&R’s coverage of the issue. The question remains why we are reading about it in the local alt-weekly instead of the daily paper of record. [...]

  2. [...] Again Green and the paper for which he works are leading the way in investigative reporting for the local market.  [...]