Kannapolis revitalization project takes shape

The Kannapolis City Council is moving forward with preliminary plans for its first major downtown revitalization project.

The proposed first step would involve the construction of three new buildings at the 200 block of West Avenue.

On Monday, the UNC School of Government’s Development Finance Initiative outlined the proposed project for the council. The DFI is working with the city to generate interest from private developers.

The first stage, or “Demonstration Project,” would include apartments, a parking deck, retail and restaurant space. The final dimensions for each space are yet to be determined.

The city has been working on the revitalization project since it purchased about 50 acres of land and buildings in the downtown area in September.

“Our research has shown this project will be a key igniter for our downtown revitalization,” Kannapolis City Manager Mike Legg said in a release. “People who are living in a downtown drive the economy by expecting to have shops, restaurants and entertainment options within walking distance.”

The proposed project would include studio, one-bedroom and two-bedroom apartments.

According to the release, the city’s major investment would be to build a $4.1 million parking deck, and preliminary financial projections show the project would generate $236,000 annually in property taxes once completed.

“We have already had numerous inquiries from developers and businesses excited about the opportunity to be a part of our city’s future,” Legg added in the release.

The complete master development plan for the entire downtown area is expected to be finished in June.

City officials said in a release that work on the demonstration project could be underway in spring 2017 if the council approves the project and a developer is secured later this year.

The council has directed the city staff to work on a request for proposals document to seek developers. The council will review the document and decide whether to approve it at its April 25 meeting.