HIGH POINT — The city may offer incentives to a company that is considering leasing office space in a mixed-use building under construction next to Truist Point stadium.
A legal notice from the city that was published Thursday states that the company, which was not identified, proposes to lease 21,645 square feet of class A office space at 275 N. Elm St., which is slated to house a food hall that will open later this year.
The City Council has scheduled a public hearing for June 21 to consider authorizing up to $1.1 million in incentives for the company.
Sandy Dunbeck, director of the High Point Economic Development Corp., said the name of the company and more information about the project will be released next week.
Billed as the Triad’s first food hall, Stock + Grain Assembly will occupy the ground floor of 275 N. Elm, the first of four projects being developed by Elliott Sidewalk Communities surrounding the stadium.
The three-story building will include a total of 36,000 square feet of office space on the upper floors.
This will be the second project to be considered under the city’s targeted downtown office incentive policy, which was adopted last year to recruit office jobs to the stadium area.
The first was up to $320,000 in potential cash grants for RUD Fleet Corp., a transportation services company considering moving into 209 N. Main St.
If the new project is approved and goes forward, the city would provide the company annual cash grants equal to between 20% and 80% of the market rental rate for four years.
The council will also consider $50,000 in upfit assistance.
The total incentives package for the company could be up to $1,175,540, according to the city. The legal notice does not state how many jobs the company would create or relocate to 275 N. Elm St. as part of the project.