Real Estate Developer Gets Permit for Self-Storage Conversion Project in Fayetteville, NC

Real estate developer Greg Spears received approval from the Fayetteville, N.C., City Council this week for a special-use permit that will allow him to convert three buildings into a self-storage facility. The council voted 10-0 in favor of the permit after Spears agreed to spend about $200,000 on building and property renovations. The indoor-storage facility will take over the former Stereo World and USA Tires sites on Bragg Boulevard, near the future Interstate 295 interchange known as the Fayetteville Outer Loop.

Real estate developer Greg Spears received approval from the Fayetteville, N.C., City Council this week for a special-use permit that will allow him to convert three buildings into a self-storage facility. The council voted 10-0 in favor of the permit after Spears agreed to spend about $200,000 on building and property renovations. The indoor-storage facility will take over the former Stereo World and USA Tires sites on Bragg Boulevard, near the future Interstate 295 interchange known as the Fayetteville Outer Loop.

To grant the permit, city planners had previously requested that Spears fix the fencing, improve the landscaping, paint the buildings and redo the parking lot. Spears told officials the buildings on the site were structurally sound but would require improvements under the city’s Unified Development Ordinance. "It's a lot of expense, but I can see that it's necessary," he said. "I want to be up to code, since this is going to be on a major gateway."

The self-storage business will include a U-Haul rental dealership. "This is first class," Spears told the source. "It's going to be a definite upgrade."

City officials had previously expressed hope the new Outer Loop interchanges would attract hotels, restaurants and other businesses, according to the source.

The project will be Spears’ first self-storage development. He previously developed a Home Depot/Target center on Skibo Road in Fayetteville as well as several car washes across the Carolinas, the source reported.

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