The City of Greensboro, N. C. is about to release a Request for Proposals (RFP) for the sale and redevelopment of the former Regency Inn site at 2701 N. O’Henry Blvd.
The RFP is expected to be issued Sept. 23, with a 30-day window for submissions from qualified developers specializing in multi-family affordable housing.
Currently, the site is a non-operational motor court from the 1950s, but the City plans to deliver the property with all existing structures demolished. The property is currently zoned as Commercial Medium, which may require rezoning to support multi-family development. Detailed information about the property will be available in the property description.
As per the Guilford County Tax Department, the site’s assessed value stands at $2,622,600, including $1,055,100 for the building, $1,434,900 for the land, and $132,600 for miscellaneous improvements.
Greensboro has also obtained a current appraisal valuing the land and billboard lease at $1.7 post-demolition. A Phase 1 Environmental Site Analysis is underway and will be posted on the webpage upon completion.
The Regency Inn, built in 1957, operated as a 58-unit hotel/motel until 2021. Recently, it was utilized for winter emergency housing for Greensboro’s unhoused residents.
“Transforming blighted properties into housing is a significant community benefit,” said Michelle Kennedy, director of the City’s Housing and Neighborhood Development Department. “Projects like this enhance neighborhood conditions and provide quality affordable housing opportunities for those in need.”
