Andy Zimmerman continued a streak of downtown Greensboro development yesterday, as plans to purchase a building from Councilwoman Nancy Hoffmann moved forward.
Zimmerman now has 532/534 S. Elm St. under contract, he said this morning. The three-story building on the corner of South Elm and Lewis streets is less than a block from the buildings that do (or will) house Gibb’s Hundred Brewing, the Forge makerspace and HQ Greensboro.
“I like that it’s close to my other developments,” Zimmerman said. “I do think that it’s a good opportunity. It’s my style, taking an old building — you know it was built in 1898 — and refurbishing it. It really has some neat bones to it.”
Zimmerman, who does development work as AZ Development, also has the Gate City Motors building at 300 N. Church St. downtown under contract. He owns 600 Battleground Ave. on the northern side of downtown as well, which will be home to Preyer Brewing and a second Crafted restaurant.
Hoffmann previously bought and renovated 304 S. Elm St. downtown — the home of Scuppernong Books — and sold the West Lewis Street property that will house HQ Greensboro to Zimmerman last year.
The 532/534 S. Elm St. property that went under contract yesterday is just shy of 15,000 square feet, Zimmerman said. According Guilford County property records, the assessed value of the property is $487,300.
Office space is Zimmerman’s focus but he is open to retail on the first floor, though he added he will be picky about who he lets move in.
“I want them to be good for the neighborhood and the neighbors,” he said.
Zimmerman plans to install an elevator and create a rooftop deck for the building as well.
The property, which faces Elm Street but has a Lewis Street entrance as well, is on the corner near Jules Antiques and Table 16 restaurant. Of Zimmerman’s projects, this is the first on downtown’s main street, while the rest are a block or two off Elm Street.
Hoffmann, who represents District 4 on city council, could not immediately be reached for comment.