The challenge
In 2015 and with advising support from DFI, the City of Kannapolis acquired and set about revitalizing its entire downtown core. After master planning, the City and DFI established a public private partnership framework to guide the phased redevelopment of downtown. Upon completion of the VIDA development downtown, the City and DFI moved forward to establish the redevelopment plan for a large tract of land on the southern edge of downtown.
DFI’s work
DFI conducted pre-development feasibility analysis on the 10-acre site in downtown. The development plan for this site called for a single-family, for-sale residential development. DFI supported the City in crafting the development strategy for the site, including the public investment plan; selecting the private development partner of Shiloh Church Development Group; and advising the City on the negotiations of a development agreement with the private development partner.
Development details
| Residential units | 128 Units |
| Estimated private investment | $24.5M |
| Year opened | 2022 |
Partners
Government: City of Kannapolis
Developers: Shiloh Church Development Group, Sherwood Development
Other contributors: Built Form (architecture)
