Lifestyle Enterprise buys High Point tract for $1.7 million
Importer expects to open $10M showroom/office building by Oct. 2009
By Furniture Today Staff -- Furniture Today, January 30, 2007
HIGH POINT — Major furniture importer Lifestyle Enterprise acquired land Monday adjacent to its current market building here from the City of High Point for $1,665,000.
Its contract with the city commits Lifestyle to build a $10 million showroom/office building, expected to be completed by October 2009. If construction hasn’t begun by Dec. 1, the city has the option to buy the property back for the same price.
The 1.52-acre site, which the city said was appraised at the purchase price, is located behind Lifestyle’s Forbidden City Museum showroom in the 300 block of East Commerce Avenue. The site currently is used as a city employee parking lot.
The city intends to relocate the parking lot and a utilities payment drive-thru on the lot.
Earlier this month, Lifestyle Enterprise drew some 600 retailers to its Forbidden City furniture show in High Point. About 60 other manufacturers and importers opened their showrooms during the three-day mini-market.
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