KANNAPOLIS, NC – July 2018
Residential, commercial and industrial growth is gaining significant momentum in the City of Kannapolis. The city is experiencing a tidal wave of development as a result of many factors including the quality of life for people, the I-85 corridor, proximity to the Charlotte region, a welcoming attitude to companies and more.
“It’s the old adage of throwing a rock in the pond and the ripples begin to expand outward – this is happening in Kannapolis,” said Kannapolis City Manager Mike Legg. “As growth happens in the Charlotte region and moves up the I-85 corridor, companies and people look for cities to move to and we are a great place for people to locate. We have a progressive city council and staff who have put the pieces in place to ensure we are able to attract companies like Amazon to our front door.”
Amazon is expected to open a one million square foot distribution center in Kannapolis this fall. Additional industrial growth includes the Linder Industrial Machinery Company, the Gateway Business Park, spec buildings and more. Each of these facilities will bring hundreds of jobs to the city. Under construction are also a number of mixed use developments with restaurants, shops, apartments and single family homes.
There are approximately 5,000 permits issued for new homes that have been built or will be constructed over the next five to 10 years. They range from starter homes at the $200,000 price point to homes that average $400,000 – $500,000.
On average 300 homes are being completed annually which equates to roughly 1,000 new residents annually. The city’s population is expected to exceed 50,000 by the end of this year. Since 2010 the city’s growth has increased by 14% percent, making it the 20th largest city in the state.
“People want to be in Kannapolis,” said Mayor Darrell Hinnant. “We hear daily from people who want to move here, open a small business, or a firm who wants to bring their company and jobs to the city. We have been busy planning for the post-recession growth we knew would come our way.
“Since 2007, our tax base has increased from $2.4 billion to $4 billion, due to the new growth. This growth in our tax base is allowing us to move forward with the Downtown Revitalization Project and other items such as new fire stations, greenways and more. We are making investments in our infrastructure, not just in the downtown, but in the western part of the city where much of the growth is now occurring.”
Another significant growth catalyst is the Downtown Revitalization Project, which is now underway. An investment in infrastructure and streetscape improvements, including an urban linear park will be completed in Spring 2019.
This investment by the city has already attracted two major developers, the Lansing Melbourne Group and Corporate Realty, who have proposed building mixed use districts in the downtown.
Construction on a new sports and entertainment venue, home to the Kannapolis Intimidators, will also begin later this year, which is anticipated to bring more commercial and industrial development.