A
t this year’s High Point Market, the headline that captured attention wasn’t a new design trend but a strategic real‑estate pivot unfolding in a downtown icon. The former Red Lion Hotel, now under the stewardship of HDDA LLC’s asset manager Tim Moore, is being transformed into a mixed‑use hub that blends showroom space, hospitality, and residential units, all tuned to the rhythms of the market’s busiest weeks.

    Moore explained that the property was inherited, not bought. The previous owners sought to limit losses after the hotel’s operator defaulted, leaving the building in a distressed state. His mandate was to stabilize the asset and chart a new direction that would serve High Point’s core industry.

    The first phase of that vision is already in motion. The ground floor, roughly 43,000 sq ft, is now 99 % leased to showrooms and related tenants. The Phillips Collection and High Point Exhibitions each occupy more than 15,000 sq ft. Phillips operates a year‑round destination for interior designers and dealers, complete with a design center and dual entrances for market days and regular visitors. High Point Exhibitions has split its space into three permanent showrooms housing Transformer Tables, Catherine’s Home, and April’s Story.

    Karat Home, which recently acquired Z Gallerie, is re‑introducing the brand in space 121 of 135 S. Main St. A lower “club level” is being prepared for additional showroom or entertainment use, according to Jordan Reece of Commercial Realty, who is collaborating with Moore on the project.

    Above the showroom floors, levels two through eight—another 93,000 sq ft—are earmarked for roughly 70 condominium units. Dubbed The Foundry on Wrenn, the units target manufacturers, sales reps, and High Point University parents who frequent the area throughout the year. “It’s about extending the heartbeat of Market beyond those two weeks,” Moore says.

    HDDA is surveying market exhibitors and local stakeholders to gauge interest in the condo concept, aiming for about 20 solid commitments before moving into architectural design and formal planning. If the momentum builds, construction could begin in eight to twelve months. While a handful of permanent residents are expected, most buyers will likely be industry professionals seeking a convenient, year‑round base during market cycles.

    The journey to this point required simplifying the property’s complex lease structure. Moore’s team paid just over $5 million for the land, gaining control and clearing the path for redevelopment. They have already invested nearly $3 million in renovations, with additional funds likely needed if The Foundry on Wrenn proceeds.

    HDDA LLC, part of a national portfolio once comprising 40 assets backed by Capital Partners of New York and an Atlanta‑based lender, now holds only five assets. Moore, who manages the entire portfolio, is focused on maximizing this building’s productivity.

    Beyond repositioning a single structure, the goal is to rekindle High Point’s downtown core. Moore envisions a blend of showroom activity, boutique retail, and hospitality amenities that will energize Main Street year‑round. “If the Showplace West project happens and we move forward with this, it’ll create real momentum,” he says. “That’s when coffee shops, restaurants, and boutique retail start to arrive, and a sense of community emerges.”

    For Moore and his partners, the project signals a broader shift in High Point’s identity. The Market will always revolve around furniture, but the real story is now the real estate that supports it.