Urban hub development underway at Greenville Warehouse District

GREENVILLE, N.C. (WITN) - One Eastern Carolina city has a development project underway in their warehouse district.

The City of Greenville, a developer, and ECU’s chancellor announced a collaboration for a new urban hub expected to bring $142 million to the East. It’s a project they’ve been working on for several years.

Elliott Sidewalk Communities managing partner Tim Elliott says the project will cater to millennials.

It’s called Intersect East, located at the corner of Pitt and 11th Streets, in the Greenville Warehouse District, near ECU’s biotechnology and science building.

Elliot says there will be 14 buildings on the 19-acre lot. Currently, it generates no ad valorem tax revenues to the city, but over the course of the project, annual tax revenues could exceed $3 million.

The developer reached an agreement with ECU and the UNC system to control the property for 99 years.

“We know they’ve been laying dormant for a while," Elliot said. "And so, we’re here too, kind reclaim the beauty of these buildings. When you see the architecture and the detailing that happens, that’s why we do historic preservations.”

Elliott says it will bring 1500 jobs and could mean more customers for local businesses like Pitt Street Brewing.

Not to mention, Maryann Ricks is also excited about it being only half-a-mile away.

“I think it’s going to be great for the downtown community. It’d be nice to have more affordable housing and local shops in the area. And it being so close, I mean, you could walk—we’ve walked to that area before. So, I think that’ll be a big draw,” said Ricks.

Construction value alone is estimated to be $325 million, but officials say the project is expected to bring around $142 million to the east, with no direct state or student money.

Official hope Greenville will have a new place to grow.

“That’s really what this is about; taking what was done here in Greenville to the next level and bringing jobs here,” said Elliot.

According to Elliot, the deadline is January 2023, so they have to get it done. And the design work will start immediately.

Phase one is set to start in Fall 2021, which includes 80,000 square feet of renovations. The entire project will take four phases and eight years to complete.

Copyright 2020 WITN. All rights reserved.