Kannapolis data shows proof of economic growth
From the city of Kannapolis
The city of Kannapolis continues to see a trend of positive growth in both residential and commercial development.
From 2017 to 2019 permits for new single-family homes were around 300 annually. The majority of residential growth occurring during this time period was in the multifamily market with several apartment and townhome projects receiving permits. In 2017, the city received no requests for multifamily development, but in 2018 there were 492 units. In 2019, 724 units were permitted for multifamily residential development.
In the same three-year time period, permit values for commercial development were between $60 million and $108 million annually. In 2017, commercial development permits were valued at $60.58 million; in 2018 $108.87 million; and in 2019 $81.21 million.
Growth continues to occur primarily in the western corridor of the city, especially along the Kannapolis Parkway. Residential development of the Kellswater, Austin Corners, Trinity Crossing and the Falls neighborhoods is underway. Apartment developments include Hawthorne at the Glen, Coddle Creek, Stonewood and Redwood. (View the map electronically here).
An additional healthy sign is the number of infill development projects including Grand Sabana, Martin Circle Townhomes and Hillside. These projects will be located in the older established sectors of the City.
Development related to the downtown revitalization project includes VIDA, the mixed-use district of 284 apartments, commercial and restaurant space and Pennant Square Townhomes, which will have 128 units.
“We continue to see the benefits of our investments in water and sewer infrastructure,” said Kannapolis City Manager Mike Legg. “The investment in our transportation corridors, such as Kannapolis Parkway, West Avenue, Main Street and the new I-85 Exit 65, are leading to the developers and companies to our City. This is means new jobs and opportunities for our residents.”
Other factors contributing to the development of the city include a high quality of life for people, the I-85 corridor, proximity to the Charlotte region, a welcoming attitude to companies and more.
“As growth happens in the Charlotte region and moves up the I-85 corridor, companies and people look for nearby cities to move to that offer welcoming business atmosphere and great quality of life for their employees,” Legg said. “We have a progressive city council and staff who have invested in the right things to ensure we attract quality companies and grow responsibly.”
In the previous three years, the city has welcomed a 1 million square foot Amazon distribution center, the Linder Industrial Machinery Company and the N.C. Food Innovation Lab. Newly announced is the Prime Beverage Manufacturing facility on Kannapolis Parkway. Each of these facilities has brought hundreds of jobs to the city. The new minor league Atrium Health Ballpark and West Avenue Streetscape have also been completed.
“We are also strategically planning and investing in capital projects such as two new fire stations, greenways, parks and additional infrastructure,” Legg said.