A long-planned redevelopment project in downtown High Point has officially moved forward with the sale of a prominent Main Street building that city leaders hope will help bring new life to the area.
Downtown High Point has announced that Showplace West at One Plaza Center, located at 101 S. Main St., has been sold to developers Randy Cosby and Andrew Hampton of LBD Investments.
The building, which dates back to the 1970s and has recently been renamed “Elwood on Main,” is set to be transformed into 143 market-rate apartment units along with two commercial spaces.
Downtown High Point officials said the project represents a major step in efforts to bring more residential activity to the city’s core.
“The Downtown High Point staff and Board are excited to see this project come to life,” said Amber Williamson, board chair of Downtown High Point and executive director of High Point Discovered. “Showplace West – Elwood – has long held deep history and significance in our downtown, and its transformation signals a new chapter for our city — one where historic spaces are reimagined to meet today’s needs while honoring the past.”
Williamson added that the redevelopment is expected to bring new residents and new energy to a key part of downtown.
Downtown High Point, formerly known as Forward High Point, has owned the property since 2019 and has been working toward a residential redevelopment for several years.
After early challenges, the organization issued a request for proposals in 2023 and ultimately selected LBD Investments for the project.
According to officials, that selection was based on the company’s experience redeveloping historic properties for residential use.
Cosby said the project wouldn’t be possible without local support.
“We are thrilled to give this iconic building the renaissance it deserves,” Cosby said. “Projects like this don’t happen without the right partners. We are deeply grateful to Downtown High Point and the City for their aggressive commitment to help move this project forward.”
Cosby added that the development could help spur additional investment in the surrounding area.
Before the sale, Downtown High Point successfully secured a listing for the building on the National Register of Historic Places – making it the first structure from the 1970s in North Carolina to receive that designation.
Officials say the building also has ties to the city’s manufacturing history, with past occupants including LADD Furniture Inc., First Factors Corporation and Culp Inc.
Because of its historic designation, the redevelopment project is eligible for both federal and state historic tax credits – as long as renovations follow federal preservation standards.
A ceremony to mark the project’s progress is expected to be announced at a later date.
