Saturday, September 23, 2017

April 27, 2016; High Point University's Nido Qubein says building $160M in new projects with $30 million to take business from local entrepreneurs

"High Point University President Nido Qubein on Wednesday announced $160 million in projects, saying the three-year stretch of new construction and offerings is a way for the university "to lead the way" in High Point.

"We want to partner with the city at large and make great things happen in the next decade," Qubein said. "We're going to lead the way, and we're going to lead the way by expanding the university."

It appears Nido want's to compete with local for-profit companies
with taxpayer monies and a non-profit structure

The new phase of construction at the university's main campus includes:

• a $70 million 5,000-seat arena and conference center, with the possible addition of a
small executive hotel;
• a $60 million undergraduate science center to include a planetarium, a conservatory
and a restaurant;
• a $23 million residence hall to house 310 students.

As for paying for the projects, Quebein said at least $30 million has already been raised in
large dedicated gifts, with additional fundraising activity to commence with the
announcement of the plans. Operating revenues will also underwrite the cost, he said.

It appears Nido want's to take business away from local entrepreneurs
with taxpayer money and a big pile of what looks like unsustainable debt,
which may be why Quebein and High Point City Council 
tried to swindle the rest of Guilford County into paying for it

High Point University has been in a state of near-constant construction and expansion
during the past decades, as the campus has more than quadrupled in size to 420 acres,
grown from 22 buildings to more than 100 and seen its student population expand from
1,450 to more than 4,400.

On how much debt?

The university is now in the midst of building its new Congdon School of Health Sciences
and the Fred Wilson School of Pharmacy, a $120 million project...

What stands out about this next list of projects is that they are designed to be more
integrated with the High Point community at large, as well as include money-generating
components intended to attract outside audiences, such as the restaurant running in
partnership with the conservatory, and the conference center and hotel.

Sounds like the ballpark proposal...

"We are focused on creating space that accommodates the needs of High Point
University," Qubein told me. "But we also want to consider — how can we also serve the
needs of the community at large?"

And steal revenues from local businesses

The new $60 million, 65,000-square-foot undergraduate science building...

The decision to include "a brand-new state-of-the-art planetarium" within the building is
to grow the school's small astronomy program, but more broadly, to create an attraction
for the community at large, Qubein said.

"This would be quite a facility that as you know could be utilized by student of High Point
University, but we feel this would be a tremendous asset for the Triad community,"
Qubein said.

The attached conservatory will be home to an expansive array of botanical life, and will
house a restaurant open to the general public, likely featuring organic and vegetarian
fare, Qubein said."