Kannapolis Finalizing Sale of Downtown Block One Properties
Four Businesses Opening on West Avenue
More exciting news out of Kannapolis as the City finalizes the sale of the downtown properties known as Block One Phase One to the Lansing Melbourne Group (LMG). According to the City of Kannapolis, LMG has purchased Block One Phase One for $450,000 and will invest an additional $2.6 million to renovate the properties.
Phase One of Block One includes eleven buildings in the heart of downtown on West Avenue. The properties, which date from the 1930-50s, are located around the corner from the Gem Theatre, across from the entrance to Atrium Health Ballpark, and two blocks north of the VIDA Mixed Use District. By partnering with LMG, a company that is experienced in adaptive reuse, the City’s goal is to preserve these buildings and activate them as part of the downtown business district. The buildings have prime commercial footage and are considered to be some of the most visible and historic pieces of property in Kannapolis. They are located at 101, 103, 105, 111, 109, 113, 115 and 119 West Avenue, as well as 112, 114, and 116 W. A Street.
New Businesses Announced
“LMG has been actively pursuing businesses to be located in the block and we are pleased to announce four businesses that are opening soon We have worked diligently to recruit as many local and regional business entrepreneurs to the City.,” said Kent Gregory, Partner of LMG. “People who have family roots or histories with the City of Kannapolis are eager to talk to us and be a part of this revitalization.”
The four businesses are:
- Maven Movement Salon | Future Location: 109 West Avenue | Owned by Kayla Beaver and Heather Mariano
- Cabarrus Cycling Company, LLC | Future Location: 113 West Avenue | Owned by David Carleton
- Who’s Your Barber | Future Location: 105 West Avenue | Owned by Jason Lineberger
- Lantern Realty and Development, LLC | Future Location: 119 West Avenue | Owned by Chris Puckett
“We are excited to welcome four new businesses to downtown and wish them much success. The sale of this block moves us one more step closer to fully activating our downtown spaces. It has been amazing to see how much pedestrian traffic has increased in just the last couple of weeks along West Avenue as people explore our new ballpark and public spaces,” Kannapolis Mayor Darrell Hinnant commented. “We thank the public for their support as we continue to move forward with our revitalization efforts.”
Nine apartments will be built out on the second floor of this block. The City will retain ownership of the Gem Theatre and its adjacent properties along First Street. Discussions about the future of the remaining city-owned properties continue as more business owners express interest in locating downtown.
The properties are in a designated Federal Opportunity Zone which provides tax advantages to investors in the zone.
About the Kannapolis Downtown Revitalization Project:
The City of Kannapolis has invested $113 million in three catalyst projects to revitalize downtown. The projects include the recently opened West Avenue Streetscape, the Atrium Health Ballpark (the new home of the Kannapolis Cannon Ballers Minor League Baseball Team) and a public parking deck in the VIDA Mixed Use District. Construction on the $60 million VIDA development is well underway and it is expected to open in early 2021. For more information on the City of Kannapolis and the Downtown Revitalization Project visit kannapolisnc.gov/revitalization.
Click here to read previous updates on the Downtown Kannapolis Revitalization Project.