Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Land Use topic
No spam. Unsubscribe anytime.
High Point approves sale of 4-acre downtown lot to Condon Foundation for multifamily, structured parking
Summary
The Finance Committee approved sale of roughly 4 acres currently used as Point Stadium parking to the David and Helen Condon Family Foundation for $2,065,835. The agreement requires high-quality multifamily apartments, structured parking with up to 200 public spaces and development milestones over 36 months.
The High Point Finance Committee on Aug. 14 approved an agreement of purchase and sale for city-owned property at the intersection of English and Lindsay to the David and Helen Condon Family Foundation for $2,065,835.
Deputy City Manager Greg Ferguson said the parcel, about 4 acres currently used as Point Stadium parking, fronts English and North Lindsay and includes one parcel on Appling Way. The cover memo lists county property tax record numbers and maps the parcels in the packet.
Under the sale terms presented, the property must be used for high-quality multifamily apartments with associated structured parking that would include up to 200 public parking spaces. The agreement provides a 180-day inspection period after execution and requires the buyer to identify a developer within 24 months of closing and submit construction documents within 36 months of closing.
Ferguson told the committee the city has adopted several policies addressing development scenarios in the Catalyst District and special state legislation grants the city the right to sell property by negotiated private sale when the sale furthers the city’s adopted policies; the legislation also allows the city to attach covenants, conditions and restrictions to the conveyance.
A committee member who followed the previous downtown revitalization work called the sale “a really great opportunity for High Point,” and the committee approved the conveyance by voice vote.
The agreement resolution authorizes the conveyance and execution of all necessary documents; the committee packet includes the sale price, parcel listings, and the timeline and development conditions described above. The city did not provide additional financial incentives or subsidy details during the committee presentation.
