Project details
Started 2016
Completed
Kannapolis, NC
Focus areas
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 and identified the site for the first phase of the redevelopment plan, Block 3.
DFI’s work
DFI conducted pre-development feasibility analysis on the 3.1-acre site in downtown bordered by Vance and West Avenues. The development plan for this site called for a mixed-use development featuring market rate multi-family units, ground floor retail along West Avenue and a structured parking deck to accommodate the development program needs as well as providing downtown with parking to support other retail uses. DFI supported the City in endorsing the development strategy for the site, including the public investment plan, selecting the private development partner of Lansing Melbourne Group and advising the city on the negotiations of a development agreement with the private development partner.
Development details
| Residential units | 289 Units |
| Retail square footage | 13,500 |
| Estimated private investment | $45.5M |
| Year opened | 2021 |
Partners
Government: City of Kannapolis
Developers: Lansing Melbourne Group
Other contributors: Built Form (architecture)
