Greensboro approves deals with developers for downtown parking deck properties

The Greensboro City Council approved on Tuesday development deals that would see two of the city's downtown parking lot decks demolished.

The Council unanimously voted to transfer the Davie Street Parking Deck property to BSC Holdings, Inc. Its estimated worth is about $1.4 million, which is around the same amount that will be necessary to demolish it. 

The Carroll Companies will acquire the Bellemeade Street Parking Deck property for $1.85 million after demolition.

Residents voiced worries that the deals were unfair and that the decision would make parking downtown more difficult. But City Manager Trey Davis says the move is necessary.

"More valuable developments generate a larger tax base for the city," Davis says. "Currently, both are generating zero tax revenue and costing the city a significant amount in necessary repairs."

The developers are expected to invest around $62 million in future projects at the sites.