Construction on The Point Luxury Downtown Apartments at 650 N. Main St. in High Point will be complete later this spring, with occupancy for residents to begin in June, according to Peters Development, which is developing the project and will manage the apartments.
HIGH POINT — Construction will finish this spring on the first new multifamily development in High Point’s downtown area in the modern era.
The first units of The Point at 650 N. Main St. will be occupied beginning in June, according to Peters Development, the developer, owner and manager of the project, which it’s billing as “luxury downtown apartments.”
All 28 units are for lease, not for sale, with monthly rents starting at $1,425.
The company says it’s attempting to supply living space options that meet the quality-of-life expectations of a growing workforce that wants features like walkable downtown districts.
“Constructing a luxury apartment building in the heart of downtown High Point helps bring us on par with our neighboring Triad cities with thriving downtown districts, such as Greensboro’s Elm Street or N. Patterson Avenue in Winston-Salem,” said Peters Development President Elise Peters Carey.
The Point will include a mix of one- and two-bedroom apartments spread over four floors, each ranging from 750 to 1,100 square feet in size. The building will have on-site parking accessible from N. Wrenn Street at the rear of the site.
Each unit comes with a private balcony, washer and dryer, walk-in closet and open kitchen/ living room layout, according to Peters Development.
The company says it’s taking deposits and still has one- and two-bedroom units available.
The ground floor will include commercial space that fronts on N. Main Street for retail or office tenants.
None have been signed yet, but the company is marketing the space, said Dan Hill, Peters Development vice president and director of real estate.
The Point is next to the Doghouse restaurant, which is operating under a long-term agreement with Peters Development, he said.
“It is our intent to continue the longstanding tradition of the Doghouse restaurant being a downtown staple,” Hill said.
Housing authority officials unveil the name of the new Youth Academic Center named after N.C. Rep. Cecil Brockman, D-Guilford, shown front left, prior to a ribbon-cutting ceremony Thursday. The Cecil Brockman Youth Academic Center is located at the J.C. Morgan Community Center at 1301 Camden Ave.
Name of new youth center unveiled
Charity Bunting, board chair for the High Point Housing Authority, leads Rep. Cecil Brockman, D-Guilford, on a tour of the new Youth Academic Center that was named in his honor during a ceremony Thursday.
GUILFORD COUNTY — Leaders of Guilford County spent much of their discussion at a work session Thursday on what could be called its rainy day fund as they gear up to craft a budget for the next fiscal year.
County Manager Michael Halford talked with the Guilford County Board of Commissioners about how much of a fund balance the board wants to maintain to allow flexibility in spending.
Halford said he wants the county to reduce the amount of the fund used to address balancing the annual county budget. Halford praised the commissioners for reducing the amount diverted from the fund by $3.4 million to balance the current fiscal year budget.
Commissioner Mary Beth Murphy said building up the fund balance will represent a multiple year goal.
“I would like to see some thoughts on how to do that,” she said.
Commissioner James Upchurch said addressing the fund balance is a pressing concern.
“I don’t want to see a decline in our fund balance,” he said.
As of June 30 of last year — the end of the 2021-22 fiscal year — Guilford County maintained a fund balance of $199.4 million.
The fund balance is important for a local government because it ensures a county or municipality can meet its cash obligations The fund balance provides a reserve for emergencies or unforeseen expenditures.
Money from the fund balance also can allow a local government to address opportunities that come up during a fiscal year.
Going back nearly a decade, Guilford County has maintained a fund balance amount of about 20% of annual expenditures. That’s higher than the state regulatory recommended minimum level of 16% of expenditures.
The commissioners will spend the spring determining the level of fund balance for the 2023-24 fiscal year. The county’s budget, which now totals $784 million, is set to be in place by July 1.
In another matter at their evening meeting following the work session, the commissioners approved an easement agreement with the Avalon Homeowners Association to allow for extending the Conner Trail at Rich Fork Preserve in High Point. The extension will double the length of the Conner Trail, which now covers six-tenths of a mile.
pjohnson@hpenews.com | @HPEPaul | 336-888-3528
An Archdale man died Wednesday night when his SUV crashed into Hafele America Co. on Cheyenne Drive on Wednesday.
ARCHDALE — An Archdale man died Wednesday night when his SUV crashed into a business.
Richard Scott Bazen, 59, was driving along Cheyenne Drive at 10:45 p.m. Wednesday when his Chevrolet Silverado went off the road, flipped and smashed into the lobby of Hafele America Co.
The cause of the crash remains under investigation, the Archdale Police Department reported Thursday. No other vehicles were involved.
An estimate on the cost of damage to the building wasn’t available. Hafele is a leading worldwide supplier of hardware components to manufacturers, architects, designers, contractors and construction professionals in more than 150 countries.
