HIGH POINT, N.C. -- A major project is headed for the Triad. It could bring thousands of jobs and millions of dollars.
The plan is for a new huge, corporate park on the northeast corner of the Interstate 74 and Highway 66 intersection just outside of High Point. It will likely be called I-74 Corporate Park.
Right now it's a farm, but work is expected to start on the first 100 acres, and there are plans for even more development. But the developer told us they aren't allowed to reveal who the identity of their client. Carolina Investment Properties is helping the mystery client develop an office and distribution facility that would be valued $50-$70 million. It says this will be a major employment center.
Monday night, the High Point City Council approved a plan to provide water and sewer service to 350 acres. The price tag for those utilities is about $5 million. So, the plan is to develop 100 acres now and if all goes well, develop the remaining 250 acres down the road.
High Point Mayor Bernita Sims says it'll probably look like Piedmont Parkway Development on Highway 68. That's home to several corporations. It could take years to build but the mayor says that could also mean up to 4,000 jobs.
City Manager Strib Boynton believes this would be a huge boost to plenty of towns besides High Point. "It would give us another piece of property to market, another piece of property where we can attract some capital investments, some new companies and some new jobs for not only High Point, but the whole Triad," said Boynton.
Boynton also said it's prime real estate because it's the last flat piece of ground along the I-74 corridor in High Point. The developer is shooting for next March or April to break ground and wrap it all up in a year.
The land is actually in Forsyth County but is within the High Point annexation agreement area so the city will have to annex the property from the county to develop on it.
As for the $5 million High Point is spending to deliver water and sewer, the City Manager said this project is going to give a big bump to the city's tax base and that will eventually off-set the big bill upfront.