Proposals sought for redeveloping two properties in Old Town Greenwood

Two vacant properties along Madison Avenue in Old Town Greenwood could get a new life from developers.

The city of Greenwood is currently seeking proposals for the redevelopment of two parcels of land located at and adjacent to 102 S. Madison Ave., at the road’s intersection with Pearl Street. Most of the land was occupied by the former Between the Bun restaurant. This land is also diagonal from the Village Pantry, which recently closed.

After Between the Bun closed, the property sat vacant for a few years, becoming dilapidated before the city purchased it in 2022. The city then demolished it, said Kevin Steinmetz, capital projects manager.

While this is underway, local business owner Todd Anthony bought the property to the east of Between the Bun. The man determined that it was not cost-effective to repair the home on the property, 327 W. Pearl St., so he demolished it. He then came to the city to talk about offering both properties together for redevelopment, Steinmetz said.

Now the city is putting out a request to see what that redevelopment could look like.

The parcels are small, a combined 0.31 acres. They are both zoned under the city’s Old Town zoning, which provides some flexibility on what could go there, Steinmetz said.

For example, a future development could be mixed-use with commercial on the first floor and residential above it. It could also be a few residential units or a commercial space.

“All those [uses] are allowed in Old Town, and ideally, a mix of some of those with something that really fits the neighborhood would be ideal,” Steinmetz said.

When studying the property, city officials floated the idea of a diner or small restaurant for the space. This included creating renderings of how a diner could fit on the property, with a small amount of parking, bike racks and outdoor seating. The same conceptual plan shows a potential cost of $500,000 for this, city documents show.

But this is only one concept, just to give an idea of how the land could be used. Nothing has been put forward, which is why officials are requesting information and proposals from developers.

“It’s a rapidly changing market, so you just don’t really know what people are going to think,” Steinmetz said.

Officials looked at the idea of a diner or small restaurant in response to resident feedback. They’ve often heard about how there is a lack of a full-service breakfast place in Old Town. There are also not many lunch spots, so officials looked at showing what a concept like that could look like, he said.

“That’s what we’d like to see, and that’s probably the most intensive use,” Steinmetz said. “So we’re trying to find something that fits this kind of Madison Avenue Commercial Historic District character.”

Timeline-wise, the city has only just started to accept proposals. Submissions are due Oct. 31, with interviews with developers to follow the following month. The plan is for the winning proposal to be awarded in December.

“Our goal would be to try to have a signed project agreement and/or sale by the end of the year,” he said.

City officials want to see the land develop in a way that’s best for the community. This includes hearing from residents about what they’d like to see there, Mayor Mark Myers said.

“We just want to see that area develop again in a way that’s best for the community, with some kind of aspects that are features that are going to be community-based, whether it be restaurants, office space, more downtown living,” Myers said. “There’s a lot of different opportunities in that area.”

More information, including documents on how to submit a proposal, can be found at shorturl.at/4YWOJ.