Former Greyhound Bus Station Property Listed
Dec 31, 2012
Story by: Julian March, posted on StarNewsOnline.com
The former Greyhound bus station property in downtown Wilmington is on the market.
Cape Fear Commercial has the 1.2-acre parcel at 201 Harnett St. listed for $2.15 million.
The property, which has frontage on North Third and North Front streets, is near Cape Fear Community College and sits in the shadow of PPD’s headquarters.
The property’s 2012 total tax value is $921,000, according to county records. It is owned by Greyhound Lines, Inc. of Atlanta.
Bryan Greene, a senior vice president at Cape Fear Commercial, said the signs should be up at the property soon.
“I think anyone downtown would take a look at it,” he said of the site.
Earlier in December, Greene had contacted Wilmington City Manager Sterling Cheatham to explore the city’s interest in the land, according to an email.
In an interview, Cheatham confirmed officials are evaluating the property to determine if there are any potential city uses. As a part of the review, city staff will determine whether the land would fit into any of the city’s master plans.
“It’s a strategic site, no question about it,” Cheatham said. “It’s in the heart of downtown.”
For years, the Harnett Street property was used as Greyhound’s downtown bus station. By 2011, Greyhound expressed interest in selling the property and began talks with Wave Transit about a possible partnership.
In August of 2011, the Cape Fear Public Transportation Authority, which oversees Wave Transit, approved a contract with Greyhound, which allowed the buses to use Forden Station at 505 Cando Street. Wave officials praised the agreement because it centralized bus transportation and a portion of Greyhound’s ticket sales go to Wave.
Cheatham said it is too soon to say what exactly the city could use the land for, but that it is important to evaluate land that comes for sale to see if it is needed.
“If not, we can move on,” he said.
In the fall, city officials eyed a 1.7-acre parcel of land for sale on the Cape Fear River. The undeveloped land, at 606 Surry St., is next to the city’s Dram Tree Park under the Cape Fear Memorial Bridge. The asking price at the time was $650,000.
Cheatham, who initially called the possibility a “great opportunity” said he will not recommend buying the land because of other priorities.
After evaluating that land, officials determined it would have limited opportunities for use, Cheatham said.
View the original story Star News.