SUPERBLOCK/ 5TH & COTANCHE
Greenville, NC
CommunitySmith transformed several properties on the Northeastern intersection of E. 5th and Cotanche Streets now known as the “SuperBlock.” This award-winning historic tax credit redevelopment offers tenants an attractive retail and office space at the campus edge of East Carolina University and in the heart of bustling Uptown Greenville. This redevelopment led the way in transforming an underperforming block into an exciting and vibrant area, promoting healthy, vibrant growth for the city and significant continued investment. The daytime population of these buildings jumped from 1 to over 60 with occupants such as ECU's Office of the Registrar, Greenville-Pitt County Convention & Visitors Bureau, Sentinel Insurance, and Blackbeard Coffee Roasters. More ECU offices and a new hotel are soon to be underway as the growth continues on and around the block.
The redevelopment included nearly $3 million in private and public investment and local, state and federal funds/programs intended for rehabilitation of historic properties.
See what is being said about the 5th & Cotanche project:
On October 29th 2014, an event celebrating the recent development in Uptown Greenville brought attention to “the State of the District” through a presentation by the ECU provost highlighting the importance of a successful downtown followed by an award presentation by the mayor of Greenville. The award for Adaptive Re-use Project of the Year was given to Holton Wilkerson of CommunitySmith for The SuperBlock.
In the March 2014 edition of Business North Carolina, the project was described as being “at the corner of East Fifth and Cotanche streets, Raleigh-based developer CommunitySmith LLC is leading a group of local investors who are spending about $2.2 million to turn approximately 20,000 square feet into office and retail space. ECU will least almost half for its registrar office. The balance will be used by a clothing retailer and assorted professional services…The tenants will attract daytime traffic in a part of the city known for its nightlife, adding diversity and, therefore, stability.”
“This is another indication of the great transformation happening in Uptown Greenville. We are fortunate to have excellent partners like CommunitySmith serving as catalysts. It is exciting to watch this take shape in the heart of Greenville as the area continues its conversion into a true focal point of vibrancy for our citizens to live, work and play,” said Greenville Mayor Allen Thomas.
Bianca Shoneman, Uptown Greenville Inc.’s Executive Director said, “Some of the state’s smartest investors are starting to make large bets on real-estate in downtown Greenville. The CommunitySmith investment will offer an attractive opportunity to lease retail/office space within one-block of East Carolina University’s campus and its 27,000 students with a combined spending power of more than $600 million a year. This is also an opportunity to locate an establishment in cool historic buildings located near an abundant supply of parking courtesy of a new municipal parking deck to be constructed later this year. We are thankful to have CommunitySmith, along with other private sources, make smart money investments in eastern North Carolina’s central business hub, Uptown Greenville.”