City Seeks Developer Proposals for S. Main Street Block
The City of Kannapolis seeks a development partner for the redevelopment of approximately 15,000 square feet of commercial buildings and property located at 109-123 S. Main Street in downtown Kannapolis. The property is located at the corner of 1st Street, just north of the Kannapolis Train Station, and less than a block from the Gem Theatre, Veterans Park, and Dale Earnhardt Tribute Plaza.
With a prominent location near the core of the City’s redevelopment efforts and the North Carolina Research Campus, this site is a natural gateway to the revitalized downtown, the campus, and a planned sports and entertainment venue. This property, once redeveloped, will be in the heart of a revitalized downtown with complementary residential and commercial development to drive demand. This project represents an opportunity for local and regional developers and investors to participate in the revitalization of historic downtown Kannapolis.
The City has released a solicitation for development partners, and proposals are due by May 11, 2018.
In 2015, the City purchased 50 acres of prime downtown real estate, including its historic main street, directly adjacent to the North Carolina Research Campus, a growing partnership between UNC, Duke, NCSU, and a number of private research entities. The campus currently employs 1,000 people, and contributes to demand for housing, shopping, services, and entertainment.
The City partnered with the UNC School of Government’s Development Finance Initiative (DFI) to create a redevelopment plan driven by public-private partnerships. The plan anticipates an additional 1,500 residential units, 50,000 SF retail, 90,000 SF office, and 75 hotel rooms in the downtown over the next decade, as well as infrastructure and streetscape updates, additional public gathering spaces, and parking. The first phase—the “demonstration project”—a 275-unit multi-family mixed-use project and public parking deck—will break ground in mid-2018.
The City is currently in negotiations with another developer who seeks to create additional residential units and approximately 50,000 commercial square footage adjacent to the new Sports & Entertainment Venue (SEV) on West Avenue. Those negotiations involve multiple phases of development, including redevelopment of the commercial block to the west of and across Main Street from Block 8, the subject of this solicitation.
As part of its public investments, the City is building a sports and entertainment venue (SEV) in the heart of downtown for the Intimidators, the city’s minor league baseball team. The SEV, designed by Populous and to be constructed by Barton Malow, is targeted to open in spring 2020. The City is also constructing a linear park streetscape designed by LandDesign, replacing sewer and stormwater, and burying power lines.
These initial investments, in excess of $100 million, are intended to catalyze additional private development and bring more businesses, residents, shoppers, workers, and visitors to historic downtown Kannapolis.
The City’s master development partner and adviser, the Development Finance Initiative, is managing this solicitation on behalf of the City. Interested parties should contact DFI Project Manager Andrew Trump (email@example.com) with any questions related to this solicitation.