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GREENSBORO — After nearly five years of waiting, plans have finally emerged to develop a portion of the former North State Chevrolet dealership on the northern edge of downtown.

During that time, at least three projects have been proposed for the 5.7-acre tract, which serves as a transition between the center city and the historic Fisher Park neighborhood.

None materialized.

“The vacant parcel has been ripe for development,” said Ed Wolverton, president and CEO of Downtown Greensboro Inc.

“Economic conditions slowed the momentum for many projects.”

Now, a group called Bellemeade Development/Lomax Properties wants to build nearly 200 apartment units on 4.2 acres of the site. A project that size, experts said, would cost about $15 million.

John Lomax, president of Lomax Properties and Lomax Construction, declined to comment. However, plans submitted to the city call for five, three-story apartment buildings, a leasing office and a pool.

The project will be located on the proposed Downtown Greenway and near Fisher Park, thus its name: Greenway at Fisher Park Apartments.

The complex, which will include one-bedroom, two-bedroom and studio apartments, will sit just north of NewBridge Bank Park, the downtown baseball stadium that opened in 2005.

“I think it is probably the most significant construction opportunity in the northern end of downtown since the ballpark,” said Andy Scott, Greensboro’s assistant city manager for economic development. “It is the first major project that is a direct spinoff from the ballpark and the greenway.”

The greenway, now under construction, will be a 4-mile, $26 million paved trail around the center city.

Work on the apartments and the section of the greenway that will run along the southern boundary of the complex could be carried out simultaneously, Scott said. Construction on both could begin before the end of the year, he said.

The complex will be bounded by North Eugene, Smith and Edgeworth streets and Battleground Avenue.

A smaller portion of the former dealership, at the southwest corner of Smith and Eugene streets, sits behind the stadium. Both parcels are owned by Jim and Steve Jones, whose family sold cars there for 70 years.

Efforts to reach the Jones brothers were unsuccessful Friday.

It could not be determined what role, if any, the Joneses have in Bellemeade Development. Nor could it be determined what plans the Joneses have for the smaller parcel.

Initially, after the dealership closed in 2004, the brothers wanted to build a complex of apartments, condos, offices and shops on their property. They planned to call it Bellemeade Village.

But in late 2006, they abandoned their plans and began trying to sell the property. When they took the land off the market earlier this year, speculation arose that the brothers would develop the site themselves.

Contact Donald W. Patterson at 373-7027 or don.patterson@news-record.com