Lifestyle- High Point City Hall deal is a official!
Lifestyle Enterprise Inc. paid the City of High Point $1.67 million on Jan. 29 for land to build a new showroom and office building.
The deal was first announced in October, during the High Point Market.
Lifestyle, a furniture importer based in High Point, used the money to buy a 1.52-acre parking lot located behind its Forbidden City Showroom on E. Commerce Ave.
Lifestyle will build a $10 million showroom/office building on the property, according to the contract. The building is slated for completion in October 2009. If construction hasn't begun by Dec. 1, the city has the option to buy the property back for the same price.
The parking lot, which sits behind city hall, is used by employees and houses the city's utilities drive-thru. The city is still working out the details to relocate the parking lot and drive-thru, but City Attorney Fred Baggett said it should happen in mid-March.