GREENVILLE – There’s a new innovation center coming to Greenville in a public-private partnership between East Carolina University and the developer Elliott Sidewalk Communities, and the partners in the project have made progress, announcing the first phase of the effort earlier this month.
The first phase of the project, which will be known as Intersect East, will be $40 million project to renovate three buildings on 19 acres of land near ECU’s new life sciences and biotechnology building.
The full plan calls for $240 million invested, with 12 buildings completed in the next eight to 10 years, according to Timothy S. Elliott, managing partner and chief visioneering officer of Elliott Sidewalk Communities.
The project developers said that the objective is creating “a dynamic relationship between research, business, academia, and downtown living,” in a statement shared with WRAL TechWire.
A spokesperson told WRAL TechWire that this project is the first phase of redevelopment of the University’s former warehouse district.
The three buildings have already been named and they are:
- The Prizery, a one-story building built in 1914 with 72,000 square feet of Class A office and mixed-use space.
- The Stemmery, built in 1915, will offer two floors of Class A mixed-use and office space totaling 32,000 square feet.
- The Hammock Factory, a one-story building that dates back to 1905 that will include 12,000 square feet of office space.
“We have been busy working with the university and the city to finalize all the planning to get to this stage today,” said Elliott. “We are currently in final stages of Historic architectural review with the state and federal government and once we gain approvals from the City of Greenville we will be pleased to announce that we can begin construction.”
“Intersect East is a place where business and science will merge and a place where innovation will flourish,” Elliott said. “It’s a place where university and business intelligence will intersect, and the possibilities are endless.”
The property will also contain a hiking and biking trail and a park area, the developer noted.
Under an agreement with ECU, Elliott Sidewalk Communities will control the 19-acre property through a land lease for 99 years, the company disclosed.