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HIGH POINT — High Point University has been approached to buy the struggling Oak Hollow Mall, said HPU 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.”

A spokeswoman 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.

The departure of stores such as The Gap and FYE has hurt the mall, as has the failure of chains such as Steve & Barry’s, which had been one of Oak Hollow’s anchor stores until its bankruptcy last year.

For months HPU students have whispered about their school buying the mall and knocking it down to build a football field. Qubein said he’s heard that one, too. 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.”

The school has grown from 90 to 150 acres since Qubein took charge 3 1/2 years ago and began a dramatic revamping of its image. New classroom buildings and dormitories have been erected with more to come.

Some High Point residents — including some members of the City Council — have criticized the school’s continued expansion, accusing it of swallowing up city streets and areas that could be used for business development.

But Qubein said HPU students consider the nearby mall a luxury and take shuttles from the campus to shop there. The school has no desire to get rid of that, he said.

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

The mall’s still-loyal shoppers agree.

Sharon Goodin, 32, said while shopping at Oak Hollow on Monday that she’s scared the mall will close, forcing her to drive to Greensboro or Winston-Salem to shop at national stores such as The Body Shop and Victoria’s Secret.

“It really says something about your city if you can’t even keep a mall,” Goodin said. “You want to be able to shop your favorite stores like anyone in any other city. You don’t want to feel like you can’t do that in your hometown.”

Contact Joe Killian at 373-7023 or joe.killian@news-record.com