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by Keith T. Barber and Jordan Green

COOPERATIVE GROCERY ANNOUNCES MOVE TO DOWNTOWN GREENSBORO

Deep Roots Market has announced a contingency lease agreement with North Eugene Partners to build a downtown grocery store, meeting a long-held desire by residents of downtown and its satellite neighborhoods. The member-owned grocery, which was founded in 1976 and focuses on local, natural and organic products, plans to build a 10,500-square-foot building on North Eugene Street between Smith Street and Fisher Avenue.

The new store, which replaces the market’s existing facility on Spring Garden Street, is expected to open in October at the earliest. The new store plans to add a deli, offer “clean-raised fresh meats” and create a beer and wine section and expand its hallmark produce offerings.

The planned store lies along the proposed path of the partially completed Downtown Greenway.

FORMER GREENSBORO NIGHTCLUB OWNER PLEADS GUILTY TO LOAN FRAUD

Joey Medaloni, a Rockingham native who is widely credited with creating a downtown club scene in Greensboro about 10 years ago, pleaded guilty to two counts of federal loan fraud in late December.

Medaloni operated the N Club, Red Room, Much and Heaven on South Elm Street. A factual basis document filed by the US Attorneys Office on Jan. 4 indicates that Medaloni reported “substantial business losses” in the early to mid-2000s during the height of his nightclub activities in Greensboro. Former Mayor Keith Holliday and other civic leaders lauded Medaloni at the time for leading an economic revitalization of downtown.

Those business losses reported to the Internal Revenue Service led federal investigators to question another set of tax returns showing “significant positive income” that were used to obtain loans in the amount of $996,000 from Truliant Federal Credit Union, $314,035 from Carolina Bank and $967,975 from First Merit Bank NA. The latter loans were reportedly used respectively to refinance a boat and purchase an aircraft. Prosecutors said Medaloni and companies controlled by him repaid the loans that were obtained through falsified income statements.

Medaloni could face up to 30 years of prison time and a fine of as much as $1 million, according to the plea agreement, but could qualify for supervised release after a five-year active sentence.

New interior design store opens in Greensboro Elements of Style, an interior design boutique focusing on products made by North Carolina manufacturers, opened its flagship location in at 3712.E Lawndale Road in Greensboro in November. President and principal designer Jessica Dauray said the business maintains a client base in the Wilmington area, but the Greensboro store is its “first foray into retail.”

“The goal of the space is to provide a base of operations for my private-design consultancy, my trade-only studio, as well as offer a welcome alternative for consumers, to the big-box import furniture and design experience,” Dauray said in a prepared statement.

Guilford County commuters, businesses and workers benefit from state largesse The state of North Carolina has awarded a $6.1 million contract to Greensboro-based APAC Atlantic and a contract valued at $1.5 million to Charlotte-based Blythe Construction to handle the work.

 

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