The Most De-Risked Path
on This Property

City Memorial Hospital was built in 1930 with the structural permanence of institutional construction — reinforced concrete, load-bearing masonry, and 10'4" floor-to-floor heights that make loft conversion not just possible but commercially attractive. The approved plan converts the 43,366 SF main building into 39 residential units: a mix of 1BR and 2BR lofts across four floors and basement.

Architectural drawings, MEP engineering sets (electrical, mechanical, plumbing), and city approvals are in hand and transfer with the property. A buyer entering this deal skips 12–18 months of design work and enters the NCHFA 2027 LIHTC cycle competitive — from day one.

Credits are illustrative. Actual amounts depend on qualified rehabilitation expenditures and NCHFA scoring. Consult a tax credit syndicator for final underwriting.

• ✦  Approved 39-unit drawings
• ✦  Full MEP engineering sets
• ✦  NRHP listing (July 2025)
• ✦  Phase I ESA & survey
• ✦  Established contractor relationships

A National Homebuilder
Already Ran This Play

In 2022, A national top-10 homebuilder executed a signed Letter of Intent to purchase the Cannon Street frontage lots. the homebuilder identified, underwrote, and committed to exactly this development path. The demand is not theoretical. A national builder validated it with paper.

The survey shows 3+ acres of open land to the south and east of the existing structures. The Cannon Street frontage supports 13 individual residential lots at R-6 density. These lots are independent of the historic building — they carry no historic preservation covenants and no HTC compliance obligations. A buyer can proceed on the lots immediately without engaging the complexity of the historic structure at all.

The historic building becomes, in effect, a free asset. If the lot values alone justify acquisition, everything on the north end of the parcel — the building, the NRHP listing, the approved drawings, the tax credit eligibility — is equity waiting to be unlocked through a subsequent sale, JV, or development phase.

A Campus You Can Only Build
When You Own the Whole Block

4.42 contiguous acres, single ownership, four public street frontages. This is the land position that senior living campus developers spend years trying to assemble — and almost never find inside a small city market. It exists here, on one deed, today.

The Piedmont Senior Living concept uses the full block: perimeter townhomes and condos facing all four streets, a central assisted living / memory care facility with courtyard design, community garden, and internal walking paths. Every building is street-accessible from four directions — a service and design advantage that cramped infill sites cannot replicate.

Davidson County's 65+ population has grown with national demographic trends. The nearest full-service Assisted Living Facility (ALF) and memory care facilities serving Thomasville are in High Point and Winston-Salem — a 20–30 minute drive. A well-positioned campus in Thomasville captures that underserved local demand.

We've Outlined Three Paths.
You May See a Fourth.

We've done the work on three validated development scenarios. But we don't presume to know every buyer's highest and best use for a full city block in a Piedmont Triad market. A parcel of this size, this configuration, and this location supports uses we may not have considered.

The historic building is an asset — but it is not a constraint if the highest-value vision requires a different approach. Demolition paths exist. Mixed-use, faith-based, medical office, workforce housing, market-rate multifamily, and commercial adaptive reuse all have merit on a parcel of this type. The land itself — utilities in place, Phase I complete, survey on file, four street frontages — is development-ready independent of the existing structures.