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$40 million investment coming to Downtown Kannapolis

$40 million investment coming to Downtown Kannapolis

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The city of Kannapolis has reached an agreement which will bring more development to West Avenue. The city will provide three parcels of property to Right Field Development, LLC as an investment incentive. The land has an appraised value of $1,668,442. In return, Right Field Development, LLC will develop the parcels into apartments, restaurants, retail stores, condominiums and possibly a hotel. Construction must be completed by 2026, with a minimum tax value of $40.125 million.

The parcels, known as Blocks 4A, 4B and 5, are in front of Atrium Health Ballpark and total about 1.902 acres. Right Field Development is comprised of the Lansing Melbourne Group (which constructed the new VIDA Apartments on West Avenue) and Temerity Capital Partners (the owners of the Kannapolis Cannon Ballers). Right Field Development expects to begin the Phase 1 Project within several months, with Phases 2 and 3 to follow.

Phase 1: Block 4A is 0.362 acres on West Avenue immediately north of the entryway plaza to Atrium Health Ballpark and will be developed as a seven-story building of offices, a restaurant, the offices of the Cannon Ballers team, ticketing space and five stories of apartments. Each apartment will have dedicated patio space that will face either West Avenue or the ballpark. Once completed, it will have a minimum tax value of $8,460,000.

Phase 2: Block 5 is 0.879 acres at the corner of West Avenue and Cannon Baller Way and will be developed as 79 condominiums or apartments and first floor retail space. This block will have a minimum tax value of $20,325,000.

Phase 3: Block 4B is 0.591 acres at the corner of West Avenue and Laureate Way. This block is expected to be developed as either a 109-room hotel or a multifamily residential project with 48 units. This phase will have a minimum tax value of $11,340,000.

Approximately 300 additional parking spaces will be included in structured parking lots as part of the three phased development.

“This is a significant step in the city’s Downtown Revitalization Project. These buildings will be key anchors due to their location overlooking the Atrium Health Ballpark and West Avenue. We expect they will also be popular because of the access to a thriving downtown marketplace. More restaurants, retail, offices, and possibly a hotel will help our economy to continue to meet the needs of our residents and visitors. We look forward to working with Right Field Development over the next few years as construction gets underway,” said Kannapolis Mayor Darrell Hinnant.

“We look forward to starting these important new projects alongside Atrium Health Ballpark. We expect to break ground within the next several months on Stadium Lofts, a multifamily residential project with high-end apartments, a street-level Cannon Ballers team store and a tavern eatery. Additional shops, more restaurants and a hotel and condos will soon follow,” said Andy Sandler, owner of the Cannon Ballers and partner in Right Field Development.

LMG Development and Right Field Development partner Kent Gregory elaborated, “Stadium Lofts will be an exciting mixed-use addition to downtown Kannapolis. The 34 new apartments will have unique ballpark or beautiful West Avenue views, plus a rooftop deck for entertaining. We think reservations to lease these special downtown living apartments will go very quickly.”

The next step in the process will be for the developer to finalize and submit plans for approval and to close on the Phase 1 property.


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