Stadium catalyst project hits a home run
The concept of a catalyst project to promote economic development was conceived by the City Council in late 2015 and the concept of a multiuse downtown stadium was introduced by the High Point CVB in early 2016. Forward High Point, Inc. was formed to study and implement the project and I had the honor of chairing that public/private organization for the last three years. Ray Gibbs has done a great job as our executive director. We solicited the assistance of Dr. Nido Qubein to help in the purchase of an Atlantic League of Professional Baseball team and to obtain a commitment for the naming rights for the stadium, and “wow,” did he come through! He not only raised the funds for the team and the naming rights, he secured donations for a convention and events center and a children’s museum. Over $60,000,000 has been raised to date.
Elliott Sidewalk Communities has committed to investing over $80 million in five new buildings; 120 room hotel, two mixed use buildings (including 275 North Elm that will break ground Sept. 18) and two residential buildings with a parking deck, all adjacent to the stadium. Dr. Lenny Peters has now committed to build multi-million dollar condominiums and a multiuse building next to the stadium on Lindsay. And Business High Point, Inc. has teamed with the Congdon Family Foundation to acquire and develop Plant Seven and The Factory on English Drive and add a convention and events center, resulting in an investment of $25-30,000,000 adjacent to BB&T Point. As an economic redevelopment catalyst project, we hit a home run with the stadium!