Managing partner Michael Lemanski founded Greenfire Development in 2003. With a corporate background in large redevelopment projects, he wanted to apply his skills to revitalizing the center of Durham, the city he came to love while growing up here. He assembled a group of investors, including partners Paul Smith and Stephen Mangano, and a team who understood Durham and believed passionately in the historic city center district’s potential. Immediately, Greenfire Development began its demonstration project, redeveloping a vacant four-story department store building into chic, urban apartments. Greenfire Development completed the project in 2005.
Meanwhile, the company and its vision were growing. Durham native and prominent businessman Carl Webb joined Greenfire Development in 2006, with a special interest in revitalizing the historic Black Wall Street area where he had done business for years. Now Greenfire Development owns a significant portfolio of properties, including two skyline landmark buildings, and the company is planning and executing several renovation projects simultaneously at all times.