Kannapolis Downtown Revitalization Project May Include $300M Multifamily, Mixed-Use Project
The Kannapolis City Council will consider a proposal from Corporate Realty Inc. that would bring apartments, retail, restaurants, offices and a pedestrian bridge to downtown.
The first phase would include a five-story, 280-unit apartment complex with ground-floor retail on West Avenue, adjacent to the upcoming sports and entertainment venue.
Later phases would bring creative office space, retail and restaurants, a senior residential community and a corporate headquarters office park.
The city council will discuss the proposal at its meeting Monday evening, and if approved, a master agreement could follow by summer.
The Kannapolis Downtown Revitalization project is underway, with streetscape and infrastructure improvements being made by the city.
The former K-Town Furniture Building has been demolished to build a sports and entertainment venue, a $37M project with a baseball stadium and seating for concert and festival spaces. Construction is set to begin later this year, with an anticipated opening in 2020.
A $60M multifamily residential and retail project by Lansing Melbourne Group is also slated to begin construction in the next few months.
Corporate Realty is based in Birmingham, Alabama. Lansing Melbourne Group is based in Fort Lauderdale, Florida.