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Simpson and Brown buy 61.7 acres for Greensboro mixed-use venture

The joint venture paid $8 million for the site and is targeting a 240-unit Class A multifamily project plus retail-oriented outparcels.

Reported · Written up by our desk · Industry

Simpson Commercial Real Estate and Brown Investment Properties have purchased 61.7 acres near Toyota’s planned $14 billion battery manufacturing facility in Greensboro, North Carolina, with plans for a mixed-use development called Woody Mill, ConnectCRE reports. The joint venture paid $8 million for the site. The project includes plans for a 240-unit Class A multifamily community, along with seven outparcels intended to support retail uses such as restaurants and office space.

ConnectCRE reports the overall development is roughly budgeted at $50 million for the apartments, about $30 million for the commercial component, and about $20 million for the outparcels. The developers began work on the project about a year and a half ago and plan to finalize more concrete plans by September.

The partners also expect to break ground before the year ends, with the development planned to open in the first or second quarter of 2028, according to ConnectCRE.

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