This article originally appeared on Triad Business Journal.
The Carroll Cos. has taken another step toward beginning construction on the $150 million Carroll at Parkside project in downtown Greensboro after receiving the first building permit for the AC Hotel that will anchor the development.
The city of Greensboro issued a $25.4 million building permit for 235 N. Eugene Street. The permit is for 101,631 square feet of hotel space with rooftop restaurant and bar space. Hoar Construction LLC of Birmingham, Alabama, is listed as the general contractor on the project.
The Carroll Cos. held a groundbreaking ceremony for the project at the beginning of May. The first phase of the mixed-use development will be a nine-story, 159-room AC that will include a lobby bar and rooftop restaurant called The Bristol, which is named after President and CEO Roy Carroll’s dog.
Carroll said at the time that the hotel will be a roughly $67 million investment while the whole Carroll at Parkside project will cost about $150 million.
Carroll told the Triad Business Journal in an interview at the end of June that he expected final approvals for the project would be complete in about a month, at which point vertical construction could begin.
Greensboro approved the plans for the AC Hotel at the end of August, according to the city’s plan review portal.
The project’s second phase will include 337 upscale apartments, 16,000 square feet of retail space and 4,500 square feet of event space that will be able to seat roughly 200 to 300 people.
Carroll said at the groundbreaking that downtown Greensboro has been lacking in meeting space, which he hopes to rectify. He also said The Bristol will be the city’s first rooftop restaurant and will feature a fixed-price theater menu, which will be available after shows at the Steven Tanger Center for the Performing Arts nearby.
Carroll at Parkside will wrap around the city-financed Eugene Street Parking Deck, which opened in 2021 across Bellemeade Street from First National Bank Field. On the other side of Eugene Street is another Carroll Cos. apartment called Carroll at Bellemeade, which features a Hyatt Place hotel and about 300 apartment units.
Carroll has a number of other projects in the works in Greensboro and beyond.
The Greensboro City Council recently approved a deal to sell the site of the Bellemeade Parking deck to The Carroll Cos. after its demolition. The Carroll Cos. has committed to investing at least $50 million at the site within five years of the deal’s closing.
The Carroll Cos.’ investment in downtown Greensboro alone is already over $257 million, which a spokesperson for the company said will reach $411 million once the Parkside mixed-use project is completed. That’s in addition to its many other projects under way or planned in Greensboro, including the $210 million Madison residential community off Fleming Road, the Carroll at Hobbs development next to Friendly Center that was recently given zoning approval by the City Council, and several industrial projects.
Alaris Homes, the company’s homebuilding division, is bringing 159 homes to Rockingham County with its new Levington subdivision.
