KANNAPOLIS ó A Charlotte company plans to break ground next year on a $35 million “eco-friendly” commercial and retail park in Kannapolis that it hopes will become a gateway to the N.C. Research Campus and create hundreds of jobs.
The 32-acre Research Commerce Park will be developed by DPE Investments at the southwest corner of the Lane Street interchange with Interstate 85, Exit 63, according to a press release.
Plans for the park include a dozen parcels for commercial use, including five outparcels for retail development and two hotel sites. When built out in three to four years, company officials say, the site will include 275,000 square feet of mixed commercial space.
The anchor tenant will be a hotel and conference center at the corner of the interchange. Other possible tenants include a retail pharmacy, a convenience store and office buildings.
“This property was acquired so that it would become the gateway to the North Carolina Research Campus,” said Doug Ehmann of DPE Investments. “It is the best supplemental ground to the Research Campus based on proximity and accessibility. Exit 63 is a gateway and the most direct entry into the campus from the interstate.”
DPE Investments worked with Kannapolis and Concord, along with the LandTrust for Central North Carolina, to come up with the land and a master plan for the park. The company traded Concord about 62 acres adjacent to Lake Fisher ó one of the city’s reservoirs ó for 17 acres DPE already owned to create the commercial park.
The 62 acres next to Lake Fisher will be will be permanently protected from development through the LandTrust, the press release said.
The company said Research Commerce Park, to be located entirely within the city limits of Kannapolis, will be “eco-friendly,” with three bio-retention ponds and a 300-foot buffer from Lake Fisher. All structures will be built with natural or recycled materials, with an emphasis on LEED certification, a recognized standard for environmentally friendly construction.
Ehmann said in the press release he is encouraged by the number of inquiries received from potential tenants, and feels the timing for the project is excellent as the Charlotte region’s economy rebounds.
“Coming out of the recession, this is a pioneering effort in commercial development. It’s not like the old interchanges where big boxes are everywhere. This will be unique,” he said.
“It touches on the New Urbanism development model with a denser footprint and more green space surrounding the project. There hasn’t been as much of this done on the commercial side,” Ehmann continued. “The project has a tremendous amount of green space and the overall piece of land is far healthier than it would have been in a traditional development.”
Research Commerce Park is the type of spin-off development anticipated when the N.C. Research Campus was conceived, the press release said, and Ehmann is particularly proud of the public-private cooperation that made it possible.
“This is very positive for the area. It provides economic development for Kannapolis, watershed protection for Concord and a conservation easement for the state,” he said.
Brown Bird Properties of Davidson will manage the development process for the park. Anthony Sparrow of Brown Bird was instrumental in forging the land swap agreement and land usage plan along with Wes Southern, former mayor of Cornelius, according to the press release.
“At a time when there seems to be a lot of criticism of government, we had clear and easy cooperation between two municipalities, a property owner and a conservation organization to put together this unique plan that benefits everybody,” Sparrow said. “This property is probably the best opportunity in Kannapolis for viable commercial space outside the research campus.”
Research Commerce Park will be located across Lane Street from Fieldcrest Cannon Stadium, where the Kannapolis Intimidators play. It will feature high architectural standards with an emphasis on the hotel and conference center as its focal point, the press release said.
“The hotel has an opportunity to stand out as an icon in the gateway to the North Carolina Research Campus and it can serve a lot of needs,” Ehmann said. “It can serve the needs of the community and the minor league baseball franchise, as well as folks visiting the research campus. The campus is going to create a lot of overnight stays and there is not a hotel at the campus.”
Ehmann has already received interest from potential developers of hotels, medical offices and restaurants, the press release said.
He said the park has “the potential to employ hundreds of workers.”