Greensboro City Leaders will Purchase 6 Plots of Land for $7.6 Million for GPAC

5:35 PM, Aug 26, 2013   |    comments
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Greensboro, NC - The offers are in and the contracts are signed for the properties that will be leveled so the Greensboro Performing Arts Center can be built.

The Greensboro City Council voted last week to approve the $60 million, before interest, project.

$7.6 million of that money will be spent on land acquisition. GPAC will be built on a parcel of land bordering North Elm Street, Summit Avenue and East Lindsay Street in Downtown Greensboro.

More than $20 million has been raised through private donations and the city will contribute $30 million through parking and ticket fees, hotel-motel tax. 

There is currently a $10 million funding gap however city leaders believe that money will be raised through private donations.

Below is a list of the properties and their purchase prices:
338 North Elm Street: $2,659,575.00
342 North Elm Street: $2,216,495
135 Summit Avenue and 152 East Lindsay Street: $1,100,000
125 Summit Avenue: $1,241,000
120 East Lindsay Street: $292,553

WFMY News 2

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