Home / Business and Economy / High Point Building Transforms into 143 New Apartments
High Point Building Transforms into 143 New Apartments
17 Jun
Summary
- Historic Elwood building in High Point is becoming 143 apartments.
- Construction is ongoing, targeting a 2027 opening for residents.
- Tax incentives are crucial for the project's financial feasibility.
The Elwood on Main redevelopment project in downtown High Point is progressing towards a late summer 2027 opening. The former eight-floor office building at 101 S. Main St., encompassing approximately 135,000 square feet, is being converted into 143 apartment units. Framing for the floors is largely complete, and the next phase will involve mechanical, electrical, and plumbing rough-ins.
This ambitious project is financially supported by federal, state, and local historic preservation tax incentives, expected to cover 20% to 30% of the total cost, which surpasses $30 million. The developers, LBD Investments, are preserving the building's historic architectural features while updating its interior. Two small commercial spaces will also be available on the first floor.
Downtown High Point, the organization that facilitated the development, highlighted the critical role of these tax incentives. The goal is to introduce year-round residential use to the downtown core, complementing other recent developments like The Point apartment complex. The project aims to attract young professionals and empty-nesters seeking quality, maintenance-free living.
