HIGH POINT — Greensboro developer Roy Carroll is on deck to build a hotel near the downtown ballpark that High Point city leaders have proposed.
Carroll said today his group is talking with hotel companies now to build a limited-service hotel with about 100 rooms in the roughly $15 million to $20 million range.
High Point University President Nido Qubein will update the community at 4 p.m. today on his progress with fundraising, buying the team, securing naming rights and promoting private development in the area.
More than 800 people have signed up to attend, Qubein said last week.
The hotel is part of a $83 million plan to use public and private money to revitalize 11.5 acres downtown just west of North Main Street.
The city has pledged $15 million for land — it has already bought most of it — and wants to borrow another $30 million to build the baseball stadium.
"We're working through the master developer — there’s lots of moving parts and pieces and we’re waiting for updates but we do have a feasibility study that shows a need in the downtown urban area for a hotel," Carroll said.
Qubein, who in May promised to raise another $38 million for the team and surrounding amenities, is expected to announce today that he is close to the goal. He also said he’ll recruit investors to build apartments, offices, restaurants and shops, creating the potential for at least $99 million in new development over 10 years.
Carroll said a Courtyard by Marriott hotel in High Point is already doing good business, and there's likely more demand beyond the usual twice-yearly furniture market traffic.
Because High Point University students hail from across the nation, "there's probably some parents who'd like to come down once in awhile to visit their kids."