Catalyst Project Background Information

City Council Strategic Goal

In March 2016, one of the strategic goals approved by City Council was to create a downtown catalyst project that produces:

  • 500 private sector jobs
  • 15-20 new restaurants and shops
  • 250 additional residential housing units
  • A centralized gathering space

Tax Base Decline

Since 2008, the city's commercial tax base in the area of the stadium has lost $250 million in value. The stadium will spur growth in restaurant, retail and residential properties in the surrounding area which will expand the tax base.

Site Design

The proposed site is 11.5 acres between Elm Street, Lindsay Street, Gatewood Avenue and English Road. Five acres of the site will be the City-owned stadium, and six-and-a-half acres will be private development including a park, event center and children's museum and education cinema.

1 concept stadium sites_Page_1

The Multi-Use Stadium

  • 3,800 fixed seats and 1,200 other seats
  • Majority tenant will be an Atlantic League baseball team, which will play 70 home games per year
  • Will have flexibility to also host soccer, football and lacrosse as well as other events such as concerts and banquets. 
  • Construction cost will be about $35 million

Financing Repayment

  • Naming rights funds
  • Team lease of the stadium
  • Facility fee
  • Parking fee
  • Taxes from new development in surrounding area
  • Limited obligations bonds, approved by the N.C. Local Government Commission on December 5, 2017
  • Funds from the High Point Convention & Visitors Bureau

Surrounding Area Development

  • City control of land
  • Master developer will facilitate the growth by collaborating with other developers to oversee the projects
  • 200+ new residential units
  • 120,000 square feet of restaurants and retail
  • New hotel
  • As well as Dr. Nido Qubein's $50 million commitment for team ownership, corporate naming rights, park, event center and children's museum and educational cinema

All in all, this catalyst project and surrounding development will lead to 200,000 people coming to downtown High Point for games and events year-round — in addition to Furniture Market.