International Market Centers Announces Donation of Downtown Property to Forward High Point

Furniture World News Desk on 10/4/2018

International Market Centers (IMC) and Forward High Point announced that IMC has donated its property located at 101 S. Main Street, also known as Showplace West, to Forward High Point for use in FHP’s downtown revitalization project.

Officials from both organizations stated that the Showplace West building, recently appraised for $3.2 million, represents a strategic location for year-round downtown development.

“The Showplace West building is in the heart of downtown High Point and will be a valuable addition to both the community and to High Point Market upon redevelopment,” said Scott Eckman, president of furniture and home décor leasing and chief strategy officer for International Market Centers. “What’s good for the City is good for the Market. A thriving downtown creates a more inviting and accommodating destination for the tens of thousands of visitors that come to market twice a year, so IMC is very supportive of the downtown revitalization efforts. We look forward to seeing Showplace West repurposed for year-round usage.”

Forward High Point Executive Director Ray Gibbs said the organization will work with engineers, city officials and architects to determine what renovations need to take place to prepare the building for mixed-use development. Gibbs added that any specific plans for the building’s use will be determined in the coming months, but that all future plans will share the same desired outcome.

“We want to support a 24/7, 52-weeks-a-year vibrant downtown environment,” Gibbs said. “This might translate into a mixed use building with a restaurant on the ground floor and office spaces as well as either residential or hotel accommodations. It’s too early to commit to any specific plans, but we will work with developers and city officials toward that goal.”

Showplace West is a nine-story building between Main and Hamilton Streets in downtown High Point. It has been vacant since 2011 due to numerous code and occupancy issues. The donation to Forward High Point will allow the organization to secure investments toward renovating and refurbishing the building to current building codes.

“On behalf of Forward High Point, we want to thank International Market Centers for their generous contribution of Showplace West to the Forward High Point Foundation,” said Doyle Early of FHP. “The development of this 128,000-square-foot property in the heart of downtown is a critical part of our efforts to transform downtown High Point into a vibrant and extraordinary place to live, work, study and play.

“The development of this property will complement our downtown stadium project that will open in 2019 and the $120,000,000 downtown redevelopment by Tim Elliott, the master developer for the property around the stadium,” Doyle continued. “We are thankful to International Market Centers for this wonderful gift and their commitment to High Point.”

Showplace West is the latest of several IMC initiatives supporting the High Point community. The organization has also donated $500,000 to year-round entrepreneur center HP365 and has made a $500,000 commitment to the new High Point baseball stadium, BB&T Point, by leasing a Founder Suite.

More about Forward High Point: Forward High Point consists of a 501 (c) 3 non-for-profit and a 501 (c) 6 membership organization and is funded by the City of High Point, grants and donations. FHP currently has a 20-member Board of Directors and is staffed by Executive Director, Ray Gibbs, and Office Manager, Melissa Bocci.

More about International Market Centers, L.P.: IMC, which Blackstone and Fireside Investments acquired in 2017, is the world's largest owner and operator of premier showroom space for the furnishings, home décor, gift and apparel industries, with nearly 20 million square feet of world-class exhibition space in High Point, N.C., Las Vegas, and Atlanta. The Company’s mission is to build and operate an innovative, sustainable, profitable and scalable platform for the furnishings, home décor, gift and apparel industries. For more information, visit www.imcenters.com.