April 17 – HIGH POINT – Hopes for redevelopment of the long-vacant ‘Showplace West’ property in downtown High Point got a boost last week.
The eight-story former office building at 101 S. Main St. was listed on the National Register of Historic Places, opening the door to potential tax benefits for an investor who brings it back into use.
It is believed to be the first building in North Carolina built in the 1970s to receive this distinction, said Rebekah McGee, president and CEO of Forward High Point, a downtown development nonprofit that owns the property.
“This will give the buildings that follow it from the 1970s some sort of guidance as to what may be needed to qualify,” McGee said. “It’s really exciting to kind of set the standard.”
Known by several names over the years, the building housed the offices of many of High Point’s leading companies and attorneys.
The building features a glass pyramid above the sunken square, where the J. Basul Noble restaurant stood until about 15 years ago.
It was donated to Forward High Point in 2018 by International Market Centers, which initially planned to use it for a High Point Market showroom to complement Showplace.
Instead, it has been put up for sale with the aim of converting it into a mix of homes, offices and shops. Due to deed restrictions it cannot be used as a showroom.
The property was under contract to a developer last year, but the deal never closed and Forward High Point requested a new set of proposals for it.
It has received three bids and is now negotiating development terms with a potential buyer, McGee said.
Historic tax credits could make the redevelopment more financially feasible given the building’s deteriorated condition.
To receive the credits, renovations would have to preserve the architectural character of the property.
