The sale of the News and Record building on East Market St. in Greensboro likely has elicited considerable interest locally. The building, which is undoubtedly akin to a ghost town at this point, will ultimately not survive. The suspicion is that some type of mixed commercial/residential development will replace it.
The parking garage/hotel proposal on Elm St. which will cost taxpayers $30 million likely added value to the nearby News and Record property. It only makes sense that our corrupt local machine politics would have delivered for its corporate media enablers.
During recent years, large scale developments have tended not to occur downtown without major taxpayer subsidies. This will almost surely be the case when the former News and Record site is developed. One can almost visualize Matheny, various development interests, city council members, city staff and others salivating at the prospect of turning over tens of millions of taxpayer dollars to develop the site. After all, why should this property be any different? Crony socialism is our guiding light in Greensboro.
It is regarded as exceedingly important to push development-- by throwing tens of millions of taxpayer dollars at various proposals-- in a vicinity where it would never occur spontaneously, in an organic fashion.
If you live in Greensboro, get ready for the next installment in a series. The taxpayer doesn't even have a chance.