City Council Approves Land Sale to Bring Retail to Kannapolis Gateway Business Park.KANNAPOLIS Kannapolis (kənăp`əlĭs), city (1990 pop. 29,696), Cabarrus and Rowan counties, W central N.C.; founded 1906, inc. 1984. It began as a planned company town and was owned by Cannon Mills (later part of Pillowtex, which went into , N.C. -- Construction of two 8400 square foot retail/office buildings to begin this summer MarkPiercePoole Properties, Inc. has purchased 12.8 acres of land in the Kannapolis Gateway Business Park from the City of Kannapolis. The Kannapolis City Council approved the deal for a price of $1,835,317 at the council meeting on Monday Monday: see week. , April 25. The commercial development firm plans to build a neighborhood retail center on the property. Rapid residential growth in western Cabarrus Cabarrus may refer to:
"With 30,000 cars per day at the signalized intersection intersection /in·ter·sec·tion/ (-sek´shun) a site at which one structure crosses another. intersection a site at which one structure crosses another. of NC 73 and the Kannapolis Parkway, tremendous residential growth occurring in the area, along with strong overall demographic trends, we believe that the Gateway Center will serve the needs of this fast emerging corridor." said Chip Mark, retail partner, MarkPiercePoole, Inc. "Our current plans for the first phase include two 8400 square foot retail/office buildings along with two out parcels for banks or restaurants. This first phase is expected to be ready for a spring 2006 opening." MarkPiercePoole will invest a projected $12 million in the retail project, resulting in an estimated $103,000 in new property and sales taxes sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. to the City once completed. "We've always planned on retail as part of our business park," said City Manager Mike Legg Mike Legg (born May 25, 1975) is a former Canadian ice hockey player. He is most famous for a goal he scored while playing for the University of Michigan, against the University of Minnesota, in which he picked the puck up onto his stick behind the net and wrapped it around into , "The aspects of the agreement with MarkPiercePoole that are attractive include their commitment to begin construction immediately and the comfort level the City has with their commitment to high quality development." MarkPiercePoole Properties, a Charlotte-based development firm, partnered with the City in 2000 to develop the 85-acre Kannapolis Gateway Business Park, which is located along Highway 73 one mile from I-85. Development began in 2001 with the construction of the first interior road, Roger Dale Carter Dale Lavelle Carter (born November 28, 1969 in Covington, Georgia) is an American Football cornerback who has played for the Kansas City Chiefs (1992-1998), Denver Broncos (1999-2000), Minnesota Vikings (2001), New Orleans Saints (2002-2003), and Baltimore Ravens (2003-2005). Drive. Last June, Novant Health leased the first 57,600 square foot shell building for a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. distribution center for its eight hospitals. Additional acreage is available for sale or build-to-suit. The park can accommodate up to 753,000 square feet of space for industrial, manufacturing, distribution, office and retail tenants. This spring, construction of Fire Station 5 and a second interior road that will link Roger Dale Carter Drive to the Kannapolis Parkway will be underway. MarkPiercePoole Properties will also start construction on a new 50,000 square foot shell building on four acres fronting Highway 73. Kannapolis Gateway Business Park is expected to create 600 new jobs and generate $50 million in private investment once it is built out. |
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