Kannapolis seeks downtown revitalization proposals

The city of Kannapolis will seek requests for proposals for its first major downtown revitalization project. Dubbed the Demonstration Project, plans call for a mix of residential and retail in a two-building complex on the 200 block of West Avenue.

The city is proposing apartments, a parking deck, retail and restaurant space at the site. The development would include studio, one-bedroom and two-bedroom apartments.

The solicitation for proposals will be completed over the next two months. The city is seeking developers to purchase the land and construct the buildings. The project, when complete, would be privately owned.

The city’s major investment would be the building of a $5 million to $6 million parking deck, and financial projections show the project would generate $208,000 annually in property taxes once completed.

Construction could be underway next spring if the city council approves the project and a developer is secured.

The Demonstration Project would be the first part of Kannapolis’ downtown revitalization plan. The UNC School of Government’s Development Finance Initiative has been working with the city to generate interest from private developers.

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