• Thomas Russell

HPU President Qubein raises $100M for downtown High Point development

Projects are tied to the building of a $30 million baseball stadium

qubein projectHIGH POINT – High Point University President Nido Qubein announced Wednesday that he has raised $100 million for downtown development projects, far exceeding an initial $38 million goal announced in May.

The projects, including a children’s museum, an events center, an urban park with 21st century technology and an educational cinema for families, would occur if the city’s plans to build a downtown baseball stadium move forward.

The estimated $30 million stadium would occupy just under half of a 12-acre site the city has assembled for the project that is bordered by English Road, Lindsay Street and Gatewood Avenue. City officials have said it would hold 5,000 seats for baseball attendance and 7,000 for concerts and other events.

The funds Qubein has raised include $50 million in private funds and $50 million from private developers.

During a presentation before some 900 community members at the Hayworth Fine Arts Center at HPU Wednesday, Qubein said he has worked with community members to secure several key elements for the downtown revitalization effort:

  • Triad developer The Carroll Companies will build a hotel in the downtown stadium area.
  • Blue Ridge Companies will build 200 apartments in the downtown stadium area.
  • BB&T will provide naming for the stadium
  • The Atlantic League of Professional Baseball will bring a professional baseball team to High Point.

“We said we needed to raise $38 million; we did it,” Qubein said. “We said we needed to secure naming rights; we did it. We said we were going to get a baseball team; we did it. We said we were going to attract private developers, and you heard from two of them today; we did it. We said we were going to create an administrative structure for facilities, and I just showed you that on a work chart.

"Everything I promised on May 17, we delivered and then some. So, ladies and gentlemen, let me be very clear: The time is now, and the person is you.”

He added that Wednesday’s announcement shows that private, philanthropic investors are waiting to inject growth into downtown High Point.

“These major investments will enhance the stadium area and make downtown High Point a year-round destination for a broad population of visitors,” Qubein said. “We now have $50 million in private investments waiting to inject energy into the heart of High Point. If we move forward with the stadium project, these visions can become reality and thereby improve the lives of all residence and attract others to live in and invest in High Point.”

Thomas RussellThomas Russell | Associate Editor, Furniture Today
trussell@furnituretoday.com

I'm Tom Russell and have worked at Furniture/Today since August 2003. Since then, I have covered the international side of the business from a logistics and sourcing standpoint. Since then, I also have visited several furniture trade shows and manufacturing plants in Asia, which has helped me gain perspective about the industry in that part of the world. As I continue covering the import side of the business, I look forward to building on that knowledge base through conversations with industry officials and future overseas plant tours. From time to time, I will file news and other industry perspectives online and, as always, welcome your response to these Web postings.

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