news-record.com

HIGH POINT - High Point University has been approached to buy the foundering Oak Hollow Mall, according to university President Nido Qubein. But for now, he says, it's just talk.

"We have been approached many times about it," Qubein said Monday. "And we were approached again recently. But for now, we think it would not be a good thing for the city of High Point to have a mall fail, to tear it down for something else. Of course, if we are continually approached we will talk, we will listen, we will have dialogue about it."

For months on campus, rumors among students have had the school buying the mall and knocking it down to build a football field. Qubein said he's heard that one, too - and although it's not true, the talk doesn't surprise him.

"Right now we are in a period of explosive growth," Qubein said. "In this economy, we are still not stopping construction projects, we are still hiring and expanding our population. So people look to us as a solution. There are rumors we will buy everything."

A spokesperson for Oak Hollow's corporate owner, CBL & Associates Properties, said she was not aware of any talks between the company and the university. The company remains committed to Oak Hollow, she said.

But the mall's downturn is no secret. According to company filings, Oak Hollow is one of the worst performing properties in the CBL chain, which also owns Friendly Center, The Shops at Friendly Center and Alamance Crossing off Interstate 40/85 in Burlington.

"We really hope it will succeed as a mall," Qubein said. "That would be best for the city."