Lifestyle buys land, sets 2nd H.P. market building
By Furniture Today Staff -- Furniture Today, February 11, 2007
High Point — Major furniture importer Lifestyle Enterprise has acquired land adjacent to its current market showroom building here from the City of High Point for $1,665,000.
Its contract with the city commits Lifestyle to build a $10 million, 110,000-square-foot showroom and 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. The new Lifestyle building will be called Forbidden City II and look much like the present showroom.
In mid-January, Lifestyle Enterprise drew some 600 retailers to its Forbidden City furniture show in High Point.
About 60 other manufacturers and importers opened their High Point showrooms during the three-day mini-market.
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