CONCORD — A $50-million shopping center on Dale Earnhardt Boulevard moved a step closer to reality Tuesday when the Concord Planning and Zoning Commission approved conditional-use permits for the center’s major tenants.
A Super Wal-Mart and Sam’s Club would anchor the shopping center, which will total around 600,000 square feet and provide 1,100 jobs, a Charlotte-based developer said earlier this year.
Though the shopping center will sit on 110-acres on the Kannapolis side of Interstate 85, all but a few acres actually fall inside the Concord city limits.
Hiatt called the development “a big project for slow economic times.”
Although Kannapolis won’t see any property tax revenue from the development, it will get some sales tax revenue. And city officials hope the shopping center spurs “spin-off” development along Dale Earnhardt Boulevard.
Kannapolis will provide water for the development, through an existing agreement with Concord, at cost plus 20 percent, Assistant City Manager Mike Legg said.
According to the agreement, the rate charged will be based on the higher of the two cities’ rates, and right now, Concord has the higher rate, Legg said.
Legg said Kannapolis has the water to serve the development. But the agreement also requires that, should the city need it, Concord would provide an equal amount of water to Kannapolis, he said.
Doug Baumgartner, a Charlotte-based regional partner with Greenville, S.C., developer RealtiCorp, said earlier this year that his company plans to start work on the development as soon as the permits are in order.
Baumgartner could not be reached at his office today, but Hiatt said he understands “they want to move pretty fast on this.”
Contact Scott Jenkins at 704-797-4248 or sjenkins@salisburypost.com
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