Council backs MOU with Greentown Properties to advance East Carolina Research & Innovation Campus

The Greenville City Council on Feb. 23 approved a memorandum of understanding between the city and Greentown Properties Incorporated to support Phase 2 of the East Carolina Research & Innovation Campus, a public–private redevelopment coalition involving East Carolina University, Pitt County, the City of Greenville and the Greenville Utilities Commission.

Assistant City Attorney Scott Dixon and city staff described the project as a redevelopment of the city’s warehouse district to include a digital transformation center, incubator and commercial/office space, and reuse of several historic buildings. Staff said Phase 1 is complete and Phase 2 would advance historic‑preservation work and new development tied to workforce and economic development goals.

Funding sources cited included private equity, federal and state historic tax credits, federal new market tax credits and bank financing. Each coalition member agreed to appropriate up to $150,000 per year for five years to support the project; the coalition’s support is contingent on approval by all partners. City staff proposed authorization for the city manager to negotiate and execute the agreement contingent on approvals by ECU, Pitt County and Greenville Utilities Commission.

Prior to the vote the city attorney noted a disclosure by Council member Seth Hardy that he had previously interned with a subcontractor on the project (TA Loving Construction) but said that based on his review the council member had no conflict of interest and could vote. The council approved the MOU 6–0.

City staff said Phase 2 financing is anticipated to close in 2026, with construction commencing in the second quarter of 2026 and completion targeted for the first quarter of 2028; coalition‑supported operations or commitments will follow occupancy and certificate of occupancy for the phase.