HIGH POINT, N.C -- The first phase of development around High Point’s downtown stadium was unveiled Tuesday.

• $83 million project seen as key component of downtown revitalization
• Includes 120-room hotel and apartment building
• Expected to create over 300 jobs

The $83 million project is being seen as a key component of downtown's revitalization.

"I really believe that what you're going to see today is the first phase of the rebirth of downtown High Point," said High Point Mayor Jay Wagner.

Wagoner stressed that High Point 2.0 is just the first phase of a revitalization in the city's downtown.

"You're going to see a lot more to come, and as this train gets rolling, you're going to see a lot more people jump on board," said Wagner.

The project will include a 120-room hotel with restaurants and shops; 2 mixed-use office buildings with retail space, along with an apartment building and parking deck.

"We're not just bricks and mortar people, we want people to understand that we breathe life into the places that we try and build," said Developer Tim Elliot with Elliot Sidewalk Communities.

The project will focus on "walkabilty" and bringing folks downtown year-round.

"To gather, to come and cheer for our home team, and sit outside and have a meal, and do the things that so many other cities have grown accustomed to doing," said Wagner.

The twice-a-year furniture market is the area's big economic engine, but streets are nearly deserted outside of those times.

Design cues will come from the furniture tradition.

"The way we do street signage, the way we do park design, all emulates the elements of furniture design, with overdoing it," said Elliot.

Folks outside of outside of downtown feel like the stadium and surrounding development will bring more people to this area.

"I think it'll be a great addition to High Point. It'll definitely give people more things to do and bring more families downtown," said Megan Crockett, who lives in Northern High Point near the Palladium.

The the development is projected to create 375 construction jobs and 310 permanent ones.

"Ultimately this is about people and how we live in High Point," said Wagner.

Construction is scheduled to start as early as this fall, and will be completed in the spring of 2021.