BB&T is readying Edgewood for sale. Crews have been trimming shrubs and undergrowth from the property this week, and some trees have been taken down or trimmed. And now a real estate agent’s sign has appeared at the curb of 111 Arden Place.
The stone mansion and 2.5-acre site in Sunset Hills date back to 1915. BB&T, apparently one of multiple lenders with money in the property, bought Edgewood in a foreclosure auction in January. The bank spent $770,000 to get it. Anyone who wants to save it is probably going to have to outbid developers who would tear the house down and squeeze in as many big, expensive new houses as they can. And in one of Greensboro’s most popular neighborhoods, no less. Once “For Sale” replaces “Coming Soon,” the outcome may not be far off.
Information from attorney Craig Taylor, immediate past president of Preservation Greensboro:
“On Monday I spoke to a person in BB&T’s bank-owned properties group about 111 Arden Place. As I suspected, the house was involved in a complicated legal situation, and BB&T has been working to satisfy all the creditors who had lien rights on the house. Apparently that process is almost complete.
BB&T has bought Edgewood, the mansion and 2.26-acre property at 111 Arden Place. It paid $770,000 in an auction at the Guilford County Courthouse on Tuesday. Their plans for the property are unknown; their representative at the auction works for a law firm and didn’t know. I’ve asked the bank and hope to hear back soon.