KANNAPOLIS, N.C. — The city of Kannapolis is, at last, finalizing the sale of a downtown block in order to spur redevelopment as part of the city’s $500 million downtown revitalization project.
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The city announced Monday it was in the final stages of selling the properties labeled Block One Phase One in the larger downtown remake. The properties will be purchased for $450,000 by Florida-based developer Lansing Melbourne Group. The developer is renovating the entire block, which includes 11 buildings located on West Avenue and West A Street, for restaurant, retail and apartment uses.
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In addition to the purchase price, LMG plans to invest $2.6 million to redevelop the buildings. The developer has also secured four tenants for the spaces already.
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