High Point Council Approves Incentives, Cohab Space Expands Melrose Mill
High Point City Council on November 26 approved performance based incentives to support Cohab Space as it expands into the former Melrose Hosiery Mill in Southwest High Point, commits to finishing second story renovations, and promises new full time jobs. The action combines public support and private investment to convert vacant industrial space into a creative hub, a move that could boost local employment and taxable property in the neighborhood.
High Point City Council authorized performance based incentives totaling $603,043 over a four year period to support the redevelopment of the former Melrose Hosiery Mill at 1547 and 1533 W. English Road. The incentives are structured as rental reimbursement and will be funded from the Citys Economic Development Incentive Fund.
The recipient, Cohab Space, announced an expansion that includes finishing the second story renovations at the mixed use site, interior upfits of currently vacant portions, and purchases of new equipment. Cohab Space will make more than $687,000 in new real and personal property investments as part of the project and has committed to creating 17 new full time positions within four years.
City leaders described the project as part of a broader strategy to revitalize historic industrial spaces and to support local artists, entrepreneurs and makers. The redevelopment converts underused historic fabric into a creative hub, which city officials and economic development planners intend to leverage for neighborhood revitalization and increased economic activity in Southwest High Point.
The incentives are performance based, meaning city payments will be tied to milestones and verified outcomes such as job creation and investment levels. That structure is intended to hold the developer accountable for promised results while protecting public funds. Spread across the projected 17 jobs and the four year incentive period, the authorized amount averages to about the equivalent of a moderate public cost per job while also covering rental support linked to the redevelopment work.
Local impacts include new employment opportunities, an expanded base of taxable property through the committed investments, and the activation of vacant space that could increase foot traffic and business activity on W. English Road. The project also advances preservation and adaptive reuse of an industrial building with local historical significance.
As the redevelopment moves from renovation to occupancy, residents and neighborhood organizations will see how effectively the performance conditions translate into sustained jobs and visible community benefits. City officials will be responsible for monitoring compliance and reporting outcomes tied to the incentive agreement.
