The Kannapolis City Council has unanimously approved the Downtown Master Plan. The comprehensive plan is designed to guide the City’s revitalization efforts for 50 acres of downtown properties the City purchased last year. The plan provides direction for the redevelopment vision for the next 20 years.
Preliminary estimates show that the City expects private investment in the downtown to be $374 million over the next two decades. The city would invest $113 million in infrastructure improvements and public facilities. The city estimates ultimately receiving $2.3 million and the county $2.6 million annually in tax revenues from the complete redevelopment of downtown Kannapolis.
“We are taking bold visionary action for the economic health of our city for decades to come,” stated Kannapolis Mayor Darrell Hinnant.
The decision to adopt the plan comes after a year of research, analysis and public input. The City has held numerous meetings to discuss the plan and its components.
With adoption of the plan staff will begin implementation of the plan’s “Big Ideas.” Research shows these “Big Ideas” are needed and are viable in order for Kannapolis to have a prosperous and vibrant downtown within the next decade.
The ideas include:
• Anchors – a sports and entertainment complex and a performing arts center. (Anchors are projects that bring significant numbers of people to an area – consistently. Anchors also stimulate spinoff growth in the restaurant, retail and residential sectors).
• Hotel – a boutique hotel would be used by visitors to the area, conference attendees, the North Carolina Research Campus, sports teams and so forth.
• Multistory office complex – creates employment center/job opportunities in downtown.
• Residential Living – condominiums and apartments woven throughout the entire downtown with the highest concentration on the former Plant 4 site.
• Historic Preservation – the plan includes saving the most historic block of buildings in the downtown such as the GEM Theatre.
• Retail/Restaurant Space – a mix of small and large spaces which will offer goods and services but also create entrepreneurship and employment opportunities.
• Water Feature – a unique aesthetic that creates a healthy living environment.
• Plazas – large green spaces that would flow from the north to the south end of downtown. These spaces encourage people to enjoy the outdoors.
• Streetscape – West Avenue would be reconfigured with a curved tree lined design that creates more outdoor dining and green spaces. Trees would be preserved and additional trees added.
• Connectivity & Livability – sidewalks, bicycle lanes and adequate parking that allows seamless movement between the anchors, office, hotel, campus and residential areas. This creates a feeling of healthy living, community and neighborhood.
Monday night the City Council directed staff to undertake the following specific actions over the next two years:
1. Select a marketing firm to assist in the recruitment of investors, tenants, and patrons/visitors.
2. Design and construction of replacement infrastructure including water, sewer, stormwater, streets, landscaping, streetscaping, on-street parking and related amenities.
3. Plan and design a Sports & Entertainment Venue.
4. Negotiate a financial plan for construction of a Sports and Entertainment Venue with the Kannapolis Intimidators and other partners.
5. Negotiate a Memorandum of Understanding for the Demonstration Project.
6. Implement a Leasing and Property Disposition Strategy.
7. Continue stakeholder outreach and public engagement sessions.
8. Continue to refine financials and phasing based on changing market conditions and private sector input.
9. Incorporate public and City Council feedback as it continues to evolve.
The Downtown Master Plan includes a financial analysis which shows the city and its partners investing in the sports and entertainment venue, the performing arts center, and infrastructure (streets, sidewalks, parking, landscaping). Private investors will be sought to invest in the office, residential, hotel, and retail/restaurant portions of the plan. The financial analysis demonstrates that for every dollar the city invests, it would see a return of $3.30 dollars in private investments.