Image courtesy CoStar
Project details
Started 2021
Ongoing
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. Upon completion of several phases of the downtown revitalization efforts, the City moved forward with the second phase of the VIDA development with the Lansing Melbourne Group on Block 3.
DFI’s work
DFI conducted pre-development feasibility analysis on the 3.1-acre site at the intersection of West Avenue and Vance Street in 2017. This site was ultimately developed by Lansing Melbourne Group into VIDA Phase I. The development partner set aside a half-acre tract within this development block for Phase II of this development. VIDA II is programmed as an additional 97 residential units and 1500 square feet of retail. The development is slated for completion in Fall 2025.
Development details
| Residential units | 97 Units |
| Retail square footage | 1,500 |
| Estimated private investment | $26.5M |
| Year opened | Estimated 2025 |
| Column 1 Value 5 | Column 2 Value 5 |
Partners
Government: City of Kannapolis
Developers: Lansing Melbourne Group
Other contributors: Built Form (architecture)
