• 66°

New $300 million investment proposed in downtown Kannapolis


Submitted drawing A map of the proposed new development in downtown Kannapolis.

KANNAPOLIS – The Kannapolis City Council will hear a proposal Monday from Corporate Realty Inc. to invest about $300 million in new construction and redevelopment of downtown properties.

Corporate Realty, based in Birmingham, Alabama, is proposing four projects that would include apartments, retail shops, restaurants, corporate offices and more. Corporate Realty has experience in developing office, corporate, medical, retail and multifamily properties in the Southeast.

The first project would involve the block of properties and buildings on West Avenue, which will be adjacent to the new sports and entertainment venue. Corporate Realty is proposing a five-story, 280-apartment development, with retail on the ground floor and a parking deck. A pedestrian walkway would connect two buildings.

Outdoor amenities would allow residents and businesses to have views into the sports venue. The project would be completed by spring 2020, when the sports venue is scheduled to open.

The second project would include the block of buildings adjacent to and south of the historic Gem Theatre. The city would retain ownership and preserve the Gem Theatre. Other buildings in the block would be redeveloped as office space, retail shops and restaurants, parking and more as well as some new construction. 

The third project would be a senior residential community on part of the property to be Plant 4, at Vance Avenue between West Avenue and Dale Earnhardt Boulevard.

The fourth project would be a corporate headquarters on property currently owned by Castle & Cooke and adjacent to the sports and entertainment venue. The project would be subject to an agreement with Castle & Cooke to be a partner in the development.

The City Council will consider the proposal at 6 p.m. Monday.

If the plan is approved, city staff members will negotiate with the company on a development agreement that will spell out details on the sale of the property, design, financing, construction, ownership and operations of one or more of the proposed projects. The agreement is expected to be completed by this summer.

The development would be a significant step in the success of the Downtown Revitalization Project. Construction is under way on the first phase as well as infrastructure improvements and a park streetscape. It is expected to be completed in early 2019.

Construction of the sports and entertainment venue will begin later this year.

This would be the second major economic development project by a private investor as part of the Kannapolis Downtown Revitalization Project. The first private investment, the Demonstration Project, also known as VIDA, is a multifamily residential and retail project by Florida based Lansing Melbourne Group. Construction is slated to begin in the next few months.

Lansing Melbourne Group will invest $60 million in VIDA, which will be located on West Avenue between Vance Avenue and West B Street.

 For more information on the Kannapolis Revitalization Project, visit kannapolisnc.gov/revitalization.



Afternoon, evening COVID-19 vaccination clinic planned Thursday


Concord man charged with woman’s murder in drive-by shooting

Ask Us

Ask Us: Have city, county elected officials received COVID-19 vaccine?


City gives away nearly 100 trees during ‘We Dig Salisbury’ event


Political Notebook: Bitzer expects most ‘Trump-like’ candidate to be favorite in state’s Senate race


Blotter: Concord man arrested in Rowan for indecent liberties with children


Half of US adults have received at least one COVID-19 shot


Police: FedEx shooter legally bought guns used in shooting


Hester Ford, oldest living American, dies at 115 … or 116?


Size of pipeline spill again underestimated in North Carolina


Kannapolis Police searching for suspect who fled scene of homicide


RSS superintendent talks district’s future, strategic plan survey


Complaints and fines pile up against unpermitted landfill in southwest Rowan County


Catawba baseball: Crowd comes out to say goodbye to Newman Park


History is a great teacher: Farming has helped shape Rowan County


‘A safe place for them’: Timeless Wigs and Marvelous Things celebrates fifth anniversary

China Grove

County will hear request for more tree houses, hobbit-style homes in China Grove


Livingstone College partners with Health Department to administer 500 Pfizer vaccinations


‘Elite and it shows’: Staff at Partners in Learning at Novant celebrate news of national accreditation


Biz Roundup: Food Lion earns Energy Star award for 20th consecutive year


Ester Marsh: What body type are you?


The queen says goodbye to Philip, continues her reign alone


Worldwide COVID-19 death toll tops a staggering 3 million


US, China agree to cooperate on climate crisis with urgency