The City of Kannapolis, Temerity Capital Partners, and the Lansing Melbourne Group announced the next development project for downtown Kannapolis during a groundbreaking ceremony today.
The project, Stadium Lofts, will be constructed on West Avenue, adjacent to Atrium Health Ballpark. Temerity Capital Partners and the Lansing Melbourne Group will purchase the block from the City of Kannapolis and will invest $8.5M in the seven-story mixed-use development on the site.
The site will include Towel City Tavern, a full-service barbeque restaurant and tavern featuring local beers brewed onsite by Cabarrus Brewing Company and a top-shelf bourbon bar with seating overlooking Atrium Health Ballpark.
The project will also be the new permanent home of the Kannapolis Cannon Ballers team offices, the team store, and the team ticket office. Currently, the team’s operations are in three different locations. This consolidation of operations will enable staff to be centralized and more efficient in a location closer to the ballpark.
Stadium Lofts will also include one- and two-bedroom residential apartments featuring high-end appliances and premium finishes. Each one will have its own patio overlooking the ballpark or the West Avenue’s streetscape. The building will also have an amenity suite on the top floor as well as a fitness center and other features that residents of Vida I have come to know and love – with an intimate, boutique feel given its smaller size.
Temerity Capital Partners are the owners of the Kannapolis Cannon Ballers and the Lansing Melbourne Group were the developers of the VIDA I Mixed Use Development.
“Once again we are very pleased to be working with Temerity Capital Partners and the Lansing Melbourne Group. From the start of our revitalization project, they have stepped in and been great partners with the City. Their belief in Kannapolis has resulted in millions of dollars in private investment, hundreds of new jobs, thousands of people visiting our City and a baseball team that played in front of sold-out crowds in their inaugural season. We look forward to this new development which will spark even more enthusiasm and economic development in Kannapolis”, said Kannapolis Mayor Darrell Hinnant.
“We are excited to be breaking ground on this project and delivering on a promise we made to the City of Kannapolis when we bought the baseball team. This building will give Cannon Ballers fans even more to look forward to on game days and every other day of the year, and we’re excited to offer residents one more reason to come downtown,” said Temerity Capital Partners’ CEO Andy Sandler, owner of the Kannapolis Cannon Ballers. “We also expect to announce two additional stadium adjacent projects on West Avenue in the near future which will result in more retail, apartments and luxury condos. We applaud the vision of Mayor Hinnant and the City Counsel in building this magnificent stadium as a catalyst for the exciting redevelopment projects we are now seeing throughout Kannapolis.”
Kent Gregory with LMG commented, “Since bringing our first tenant to West Avenue we have added over 30 more tenants and 330 jobs to the West Avenue District. To continue this aggressive revitalization, we are very excited to announce, with our partners at Temerity Capital Partners, this our third new building, Stadium Lofts. This new multiuse project adds retail, commercial and restaurant/tavern space plus unique apartments with exciting views of the stadium and beyond”.
“We are thrilled to be part of what is happening in Kannapolis. Towel City Tavern will be an immersive dining and drinking experience. As soon as you reach this area of the ballpark you will smell the smoky woodfire barbeque and the yeast of the beer all while listening and watching the sounds of the ballgame. Our name, Towel City Tavern pays homage to the history of the City while celebrating all that is the best of the new revitalized Kannapolis,” stated Steve Steinbacher with Cabarrus Brewing Company.
Construction is expected to be completed by the opening of the 2023 Cannon Ballers Season.