LV mart could be low point for High Point

Diana Sahagun

Monday, March 19, 2001 | 11:15 a.m.

Officials in High Point, N.C., this week are casting a watchful eye on a proposed 7.5 million-square-foot furniture mart in downtown Las Vegas as the plan goes before the city's Planning Commission.

If developers of the World Market Center receive approval from the Planning Commission and City Council, the furniture mart would provide competition for High Point.

High Point has for years held a top spot in the wholesale furniture market. High Point, which offers more than 9.5 million square feet of exhibition space, twice each year plays host to the largest wholesale furnishings show in the world. Nearly 80,000 people come to town for 10 days each April and October -- events that help pump about $312 million into the local economy.

On Thursday, World Market Center representatives will appear before the Planning Commission for a site plan review for the initial $100 million phase of a $750 million furniture mart near Grand Central Parkway and Alta Drive.

The first phase will be a million-square-foot commercial development on 36 acres. The project is proposed as a multi-tower, 7.5 million-square-foot complex covering 57 acres.

The council will consider the plans next month and, if approved, World Market Center will plan to break ground next year.

The project, on Union Pacific Railroad land, is across the street from 61 city-owned acres, on which developers are proposing projects such as the world's tallest tower and an indoor ski park.

The furniture showroom would offer wholesale merchandise to retail buyers and will not be open to the general public. The plans also include a hotel and residential development.

News reports from High Point show that city officials are concerned about the proposal and are cognizant of the potential competition.

Bruce Miller, chief executive officer of the Home Furnishings Market Authority, said although organization officials are watching the Las Vegas proposal, they don't think it will take visitors away from High Point.

"Anyone serious about this business comes to High Point," Miller said.

While officials in High Point have been criticized for not having the adequate hotel space and entertainment for their visitors, Miller said the people who come to their city don't have time to party.

"Vegas is a different atmosphere. The people who come to High Point come with agendas and are very serious about their business. They don't have time to go out and parade around at night and partake in the type of activities you have in Las Vegas. It's a very serious market," he said.

Nancy High, chief executive officer of the International Home Furnishings Marketing Association in High Point, told the Greensboro News & Record, "High Point can't afford to ignore the possible threat from a future Las Vegas market."

Jack Kashini, a partner with World Market, said unlike other projects being proposed for the downtown area, the furniture mart would bring a new industry and a new breed of tourists to the city.

"The other projects being proposed for the site across the street ... they're not going to bring in a new industry. It's redistribution of the existing pie," he said.

Kashini said those associated with the furniture mart are not trying to take business away from High Point, and their main focus will remain on Las Vegas.

"They think that way, but we're mostly concerned about if this is going to be a benefit to the city of Las Vegas. That's not our intention at this time and has never been our intention to do anything against High Point or harm them," Kashini said.