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Old 01-31-2011, 08:06 AM
 
Location: The 12th State
22,974 posts, read 58,722,864 times
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High Point University is now interested in buying the Oak Hollow Mall property because of the announcement by J.C. Penney that it will close its store there. The university is expanding and plans to spend $2.1 billion toward it in the next 10 years.

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High Point University now interested in buying Oak Hollow Mall (http://www.hpe.com/view/full_story/11176850/article-Source--HPU-shifts-view-on-mall?instance=main_article - broken link)
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Old 01-31-2011, 10:26 AM
 
12,577 posts, read 13,352,505 times
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The mentality of High Pointers is what drove me to leave that place, finally. There was no reason whatsoever a city of the size of High Point couldn't support that mall.
I guess that means the property company that was said to be in negotiations w/CBL backed out?
Just think of the major blow if all of the property is sold to HPU, including the out parcels.
If HPU waits long enough they will be able to get the property for pennies on the dollar.
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Old 01-31-2011, 01:43 PM
 
231 posts, read 612,541 times
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Oak Hollow was a huge mistake from inception. The reasons HP couldn't support the mall were that there are much nicer, larger malls within a 20-minute drive, with much more variety, not to mention that the mall was constructed as malls of that sort were falling out of favor. Oak Hollow is HP's Carolina Circle. Add to that the fact that people with money do not like to shop where young people and minorities congregate.
HPU buying it is probably the best option for the city. HPU is about the only positive glimmer in HP's immediate future.
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Old 01-31-2011, 04:11 PM
 
12,577 posts, read 13,352,505 times
Reputation: 8901
Quote:
Originally Posted by olrac View Post
Oak Hollow was a huge mistake from inception. The reasons HP couldn't support the mall were that there are much nicer, larger malls within a 20-minute drive, with much more variety, not to mention that the mall was constructed as malls of that sort were falling out of favor. Oak Hollow is HP's Carolina Circle. Add to that the fact that people with money do not like to shop where young people and minorities congregate.
HPU buying it is probably the best option for the city. HPU is about the only positive glimmer in HP's immediate future.
Sad, but I agree. I had often said OH was about 15yrs too late, but I made my contributions there. HPU may take the definition of "a college town" to a whole new level.
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