Congdon family puts up $30 million for downtown High Point project
This article was originally published in the Triad Business Journal
A High Point family will provide $30 million for a new downtown project separate from the city's The Outfields project already in progress.
The Congdon family, including David Congdon and the Earl and Kathryn Congdon Family Foundation, have pledged the majority of funds for Congdon Yards, a planned 225,000 square foot project at the corner of West English Road and Pine Street, just a short stroll from High Point's new BB&T Point baseball stadium. David Congdon bought the property over the past two years.
The announcement was made at a "VIP Reveal and Reception" Wednesday night at The Loft events center on the fourth floor of The Factory Building.
Congdon Yards will consist of two renovated 100,000-square-foot buildings -- Plant 7 and The Factory -- separated by a courtyard, and a 25,000 square foot Congdon Events Center to be constructed in a final phase on the east side of The Factory. The buildings once housed the Adams-Millis Hosiery Mill.
Each building will have four stories with 25,000 square feet. Much of The Factory building has been completed, including The Loft. At least one restaurant/cafe is planned on the first floor. Future office space on the second and third floors are occupied by Bermex as furniture showrooms until April 2021.
David Congdon, executive chairman of the board of Old Dominion Freight Lines (NASDAQ: ODFL), told the gathering that Mason Jar restaurant group of Charlotte was among the possible restaurant tenants. Mason Jar Group, established in 2007, operates several restaurants, bars, entertainment and event venues in the Charlotte area. They include the Tilt bar and 204 North Kitchen & Cocktails, both in Uptown Charlotte, The Union neighborhood bar in Charlotte's Southend, and Grace O'Malley's, an Irish pub in downtown Matthews.
The Congdon family has provided funds for facilities at High Point University (Congdon School of Health Sciences opened in 2017) and Westchester Country Day School. In 2018, Congdon gave $10 million to his alma mater, UNC Wilmington, to help establish the David S. Congdon School of Supply Chain, Business Analytics and Information Systems.
Congdon Yards will be leased to Business High Point/High Point Chamber of Commerce for $1 per year. Landmark Builders is the general contractor for The Factory and Plant 7.
In addition to the Congdon family contributions, High Point University, International Market Centers and Bill Millis each provided $500,000 to earn the project a matching $1.5 million from the state. Blue Ridge Cos. contributed $100,000.
Patrick Chapin, president and CEO of Business High Point, said the next phase, completion of renovations to Plant 7, is expected to be completed by the fall. Plant 7 will house a commons, innovation center, co-working space (HP365), library and outdoor patio. The facility will include an atrium with stairs and an elevator.
Chapin said he hopes to announce soon that a "prototype equipment production company" will move into Plant 7. After completion of Plant 7, Chapin said the next phase would be converting the Bermix showroom space into offices. Construction of the 25,000 SF convention center would be the final phase.
The Outfields, developed by Elliott Sidewalk Communities with Peters Development, is expected this summer to open 275 North Elm -- a three-story mixed-use building with a first-floor food hall -- not far from the main centerfield entrance of BB&T Point.
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By John Brasier – Reporter, Triad Business Journal
