Contact: Jim Collins
Phone: 373-2105

 City Agrees to Purchase Coliseum Inn and Old Canada Dry Facility

GREENSBORO, NC -- (September 19, 2008) – In a bold effort to provide economic development and nuisance abatement along the High Point Road corridor, Greensboro City Manager Mitchell Johnson today announced an agreement to purchase two properties near the Greensboro Coliseum Complex.

One is the Coliseum Inn at 2438 High Point Road. The second is the old Canada Dry facility, located directly across Patterson Street from the Greensboro Coliseum Complex.

Greensboro City Council authorized Johnson to move ahead with the purchase of both properties during a recent City Council closed session. The city will pay $2.1 million for the Coliseum Inn and $3.2 million for the Canada Dry facility.

Johnson said City Council encouraged ‘bold action’ to spur economic development and added   there are no specific plans for development of either of the properties. The Canada Dry facility as it exists now can be used for storage, parking and outdoor events or used for future development suitable to the area. The Coliseum Inn will become part of the city’s land bank for future economic development.

As an important member of the High Point Road business community, Greensboro Coliseum management is in full support of this purchase for future economic development.

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The City of Greensboro works in partnership with the community to build an increased quality of life for all residents by fostering an environment where inclusion, diversity, and trust are valued. As the seventh largest employer in Greensboro, the City has a dedicated professional staff of 2700 employees who maintain four core values of honesty, integrity, stewardship, and respect. The City of Greensboro is governed by a council-manager form of government where a mayor and eight council members act as the legislative body. For more information on the City of Greensboro, please visit us online at www.greensboro-nc.gov.