Downtown Kannapolis keeps growing. Why national developers want to add to that growth
The city of Kannapolis planned to revitalize its downtown to attract growth and it’s certainly working. More housing is on the way.
M/I Homes, a national builder, has set its eyes on the Rowan and Cabarrus County city. The developer announced it purchased 48 acres near downtown where it plans to build a town home community.
“Our land team is really focused on where families want to be, where individuals want to be, and that’s close to employment centers, major traffic arteries, shopping, hospitals,” said Alan Beulah, M/I Homes’ Charlotte area president. “Downtown Kannapolis has that.
“The property is about a 15-minute walk to downtown. And with all the improvements they’ve made downtown, we really want to take advantage of that and allow our customers that advantage.”
Kannapolis devastation and rebirth
The city, about 30 miles north of uptown Charlotte, has seen its share of defeats and triumphs over the years.
In 2003, Kannapolis was decimated when textile giant Pillowtex, formerly the Cannon Mills Company, abruptly closed. More than 4,300 people lost their jobs, in what at the time was the most devastating one-day layoff in state history.
By 2015, half of downtown Kannapolis was vacant and in disarray, according to UNC’s School of Government.
That same year, city leaders began working on a revitalization plan to reignite the area. And it did.
Between 2010 and 2024, Kannapolis’ population grew by about 39%, according to census data. As of 2023, the population was 59,321 people, according to the census. City officials say that number is now around 63,000.
Besides population, there’s also the commercial, residential and economic growth.
Since 2008, more than $700 million has been invested in downtown’s North Carolina Research Campus that is owned by former Dole Food Company owner David Murdock, according to Business magazine. About $122 million has been invested in private development downtown since 2018, the city said. Some 350 apartments have been completed, with more under construction, as well as 120 town homes.
There’s about 6,000 active residential permits throughout Kannapolis, with most being multi-family projects, according to the city.
On the commercial side, 40 new businesses and restaurants are open downtown, along with the recently renovated Swanee and Gem Theatres. And let’s not forget Atrium Health Ballpark, home of the Kannapolis Cannon Ballers (opening day is April 4).
About 2.6 million square feet of industrial space has been developed in the last three years with another 735,000 square feet set to be completed this year.
Earlier this year, Amazon opened a second facility in the area and Chick-fil-A Supply, a subsidiary and distributor for the chain, opened its first.
Things are moving.
More homes for Kannapolis
And M/I is ready to add its housing to the mix.
Crestfield is off Irish Glen Drive, about a five-minute drive to the ballpark, the North Carolina Research Campus and Atrium Health Kannapolis.
The site was previously owned by Insite Properties, which purchased more than 50 properties from Murdock. The properties were part of Murdock’s Castle & Cooke company. It was purchased for $8.8 million, the Charlotte Business Journal reported.
Crestfield will feature 231 townhomes ranging from 2,013 to 2,732 square feet. Each home will have three bedrooms, two bathrooms and two half baths. Some will have the option for a fourth bedroom.
The homes will be three stories and include a garage, either in the front or back. Sales on this property should start next year.
This will be M/I’s second development in Kannapolis. The first, Emerson Glen off Jim Johnson Road, is a single-family development with 86 homes. That’s set to open in May.
“We’re trying to expand wisely,” Beulah said. “That’s areas that can accommodate community and Kannapolis is one… It’s a desirable location. It’s growing. It’s nor far from Mooresville, which is also growing leaps and bounds, Huntersville, Concord.
“There’s a lot of connectivity that really lends itself to being attractive to families and individuals.”
The company’s expansion, Beulah said, is set to continue throughout Charlotte’s suburbs, including Kannapolis, Huntersville, Mooresville and parts of South Carolina.
It’s a plan started by George Schulmeyer, the former area president who passed away in February. Beulah took over in March.
“I’m just going to be picking up the torch on the job that he set forth,” Beulah said. “We’re dedicating this entire year’s performance to George.”
This story was originally published March 31, 2025 at 6:06 AM.
