A fter being abandoned for more than 20 years, the property at 501 S. Greensboro St. has finally been given the potential for development again.
To ensure that this does happen, Carrboro’s Board of Aldermen should amend its current zoning laws to include a new M-2 classification to provide the incentive needed to start development on the property .
The proposed M-2 zoning district would be identical to the existing M-1 zoning, except that it would include a set of “performance standards” to allow developers the opportunity to apply for additional property uses, such as restaurants, in exchange for major infrastructure or other improvements .
Alderman Damon Seils originally feared that creating a new M-2 zoning district was an overly complicated solution that would essentially duplicate the M-1 zoning district classification. Nonetheless, even he now sees the value in redeveloping 501 S. Greensboro St. and the likes.
The proposed rezoning should be viewed as an investment in the community that could yield benefits in multiple regards.
In the case of 501 S. Greensboro St., not only would the town be ridding itself of an eye sore that is little more than wasted space, but the lot’s drainage problems are an issue that needs to be addressed.
The sorts of developments that would be given this classification would have the potential to bring additional tax revenue to the town as well as new businesses that could serve the town well, by replacing properties in need of substantial improvements with newly renovated establishments.
This matter likely will not be brought back before the board until late April or May, but when it does Carrboro’s Board of Aldermen would do well to adopt an M-2 zoning district that will yield positive impacts for the town.
