Greensboro developer Roy Carroll has announced he is pulling out of a proposed hotel project near High Point’s $35 million taxpayer-funded downtown baseball stadium.
In a statement, Carroll said:
“The Carroll Companies will not be moving forward with the development of the downtown High Point hotel. After more than a year, we were still missing critical information concerning hotel location, schedule and price of the site. It is typical for out-of-town developers to bring in developers they have worked with previously on the various components of a mixed-use project.
The stadium is still under construction with a rapidly-approaching 2019 Opening Day completion deadline. As Greensboro well knows, development around a downtown baseball stadium takes some time. To be fair, Greensboro’s stadium was built in the midst of the 2008 financial crisis. It’s 11 years later—true–but we’re also talking High Point here. It will be interesting to see how it all plays out 10 years from now.
