Downtown showroom sells for $3.1M
Mar. 3—HIGH POINT — Organizers of the new downtown Congdon Yards campus have acquired another property with an eye toward future uses that could include a hotel or events center.
A limited liability company on Tuesday purchased the Paul Robert showroom at 401 W. English Road and three small parcels around it for $3.15 million, according to a property deed.
The 1.24-acre property is across the road from Congdon Yards.
The LLC is affiliated with the Earl and Kathryn Congdon Family Foundation, the principal investor in Congdon Yards, a hub for entrepreneurs and established businesses that is planning a grand opening next month.
"This further expands our options for the future of the events center and a potential hotel as part of our plans," said David Congdon, president of the foundation.
The property has served as a Market showroom for Paul Robert Chair, a furniture manufacturer in Taylorsville, since 1997. The company is leaving the site but is planning to maintain a High Point presence, Congdon said.
The Plant 7 portion of the campus has been using the Paul Robert showroom parking lot by agreement with the company. Its leaders approached Congdon Yards and offered to sell.
"At this point, we have no specific plans or intentions for the property except for it to continue as a parking lot for Congdon Yards and Plant 7," Congdon said.
The showroom property includes another historic former Adams-Millis hosiery plant. Plant 7 and the other main component of the existing campus, The Factory, were also Adams-Millis facilities.
Congdon said retaining the historic significance of the site was another factor that made the property an attractive purchase.
An events center is proposed as part of the broader Congdon Yards project, possibly connected to The Factory.
A potential new 120-room hotel adjacent to the events center is another component of the campus, according to a market and economic analysis commissioned by the Congdon foundation.
pkimbrough@hpenews.com — 336-888-3531
