The challenge
In 2015 and with advising support from DFI, the City of Kannapolis acquired its entire downtown core for $8.75 million. This purchase included multiple historic buildings in disrepair and large swaths of vacant land where mill structures once stood. The core was hollowed out by the shuttering of Cannon Mills, once the world’s largest textile factory. Although the downtown was largely vacant at the time, Kannapolis leaders saw an opportunity to capitalize on regional growth within the Charlotte metro area. The community set about establishing a roadmap to return its city center to its role as a vibrant economic and cultural engine for the community.
DFI's work
Since 2015, DFI has provided local government leaders with technical assistance by conducting pre-development feasibility analyses, informing public investment strategy, selecting and negotiating with development partners, and creating and implementing a strategic master development plan for revitalization. Kannapolis has witnessed an impressive influx of private investment totaling more than $140 million, complementing the City’s substantial investments in infrastructure and amenities in its central business district. The range of private investments include the restoration of historic theaters that now host movies, concerts, and shows; the creation of ground floor retail spaces for food and beverage establishments; a minor league baseball stadium, and a mix of for-sale and multi-family rental residential units, all aimed at fostering a walkable urban core.
Partners
Government: City of Kannapolis
Developers: Lansing Melbourne Group, Right Field Development, Shiloh Church Development Group, Sherwood Development and CRG Residential
Other contributors: ECS (environmental), Built Form (architecture), Populous (architecture), and LandDesign, Inc. (landscape architecture)
