Mark Sutter of the Business Journal laments the fact that the City Club remains closed after 8 years.
"Square foot for square foot, it might be Greensboro’s most valuable piece of real estate. It certainly has the best view."
My thoughts.
If you think about it, what use is it? As a commercial restaurant it's too far from the ground to attract walk-in traffic and once a restaurant closes in Greensboro the cost of bringing it up to new code is often as much as building a new restaurant. I guess it could be turned into a bar but I'm betting Lincoln Financial won't be going that route and as you pointed out some people actually believe it is the most valuable piece of property in Greensboro. Fact is: as long as the City Club remains empty the property is worthless and is nothing but a burden to its owners. Smart management would move some of their corporate offices to what was once the City Club and make lower floors available for a small exclusive shopping mall. If the right stores were included the people working in that building alone would go a long ways towards keeping the stores in business. But alas, financial corporations cannot think of these things on their own. Sad, isn't it.
I should have said, somewhat exclusive in reference to the stores and not clientele. Bringing stores that market products that are not intended for your known demographic is a death sentence for any mall.
"Square foot for square foot, it might be Greensboro’s most valuable piece of real estate. It certainly has the best view."
My thoughts.
If you think about it, what use is it? As a commercial restaurant it's too far from the ground to attract walk-in traffic and once a restaurant closes in Greensboro the cost of bringing it up to new code is often as much as building a new restaurant. I guess it could be turned into a bar but I'm betting Lincoln Financial won't be going that route and as you pointed out some people actually believe it is the most valuable piece of property in Greensboro. Fact is: as long as the City Club remains empty the property is worthless and is nothing but a burden to its owners. Smart management would move some of their corporate offices to what was once the City Club and make lower floors available for a small exclusive shopping mall. If the right stores were included the people working in that building alone would go a long ways towards keeping the stores in business. But alas, financial corporations cannot think of these things on their own. Sad, isn't it.
I should have said, somewhat exclusive in reference to the stores and not clientele. Bringing stores that market products that are not intended for your known demographic is a death sentence for any mall.
