Mjalli scraps plan for research park
Jun. 1—HIGH POINT — Backers of a proposed pharmaceutical research park in north High Point have apparently scrapped the idea.
Nothing has been done with the 79.5-acre site of what was to be the Oasis Village for Wellness & Aging on Gallimore Dairy Road, and the land is for sale for $8.5 million.
Biotech entrepreneur Adnan Mjalli was heading the planning for the proposed development, which was pitched as a $500 million project that was going to bring as many as 1,600 high-paying jobs.
"I don't know what happened, but I know he has other projects he's working on, and this has not become his priority," said Rani Hussami, broker/principal of V/Stol Commercial Real Estate, which has the property listed for sale. "We were hired by Dr. Mjalli to market his property and try to sell it, and that's all I know."
Mjalli, the founder of local pharmaceutical firms High Point Clinical Trials Center, TransTech Pharma (now vTv Therapeutics) and PharmaCore (now Cambrex), could not be reached for comment.
In 2019, he unveiled plans for the Oasis center and got city zoning and annexation approvals for the Gallimore Dairy Road site, most of which is undeveloped.
The plan was for Oasis Village to design and innovate new medicines on a campus of up to 1.3 million square feet of research and development and office space, as well as retail and residential units.
No development plans for the site were ever put forward.
The property is near other industrial buildings, and Hussami said its zoning can accommodate a variety of commercial uses.
He said he's working with the High Point Economic Development Corp. to market it.
"We like all projects to get completed. However, there are times that principals need to change their plans," said EDC DIrector Sandy Dunbeck. "No local or state incentives were authorized for the (Oasis Village) project. The site on Gallimore is prime for development and the EDC is sharing it with prospects."
pkimbrough@hpenews.com — 336-888-3531
