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City of Kannapolis and partners announce town home project

New development going on former site of Cannon Mills Plant 4
Updated: Apr. 14, 2021 at 7:07 AM EDT
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KANNAPOLIS, N.C. (WBTV) - Construction of Pennant Square Townhomes is now underway. The project broke ground this week with a short ceremony. The City of Kannapolis sold nine acres located off Main Street near the intersection of West F Street where the townhomes will be built. The property was formerly the site of Cannon Mills’ Plant 4. The builder, TriPointe Homes, will construct 120 townhomes on the site.

“A major component of the City’s revitalization is to have more people living in the downtown core. This new phase of our plan brings us another step closer with the offering of townhomes as a style of residential living. Many people have asked us for townhomes and condos in our downtown and this project will accomplish that desire,” commented Kannapolis Mayor Darrell Hinnant. “We expect the units to sell quickly and look forward to meeting the new community of people who will live in Pennant Square.”

The site is ideally suited for this type of residential development and is part of the Downtown Revitalization Project which calls for residential projects to establish a concentration of people living and working in downtown.

“Tri Pointe Homes is so excited to be a part of the Pennant Square community and larger Downtown Kannapolis Revitalization project as we launch our premium brand and expand our footprint throughout the Carolinas,” commented Gray Shell, Tri Pointe Homes Division President.

The two-and three-story townhomes will have alley-loaded garages. Options for master bedrooms on the first floor are also expected for some of the townhomes. The site plan has been approved and townhome designs are anticipated to be finalized in the coming months. Infrastructure and site preparation is now underway.

TriPointe expects to have a model townhome ready this Fall. The townhomes will be completed in early 2022 and are expected to sell for $200,000-250,000. Total construction value for the project is expected to be $25-30 million.

If you would like information on purchasing a townhome contact Austin Read with Tripointe at Austin.Read@TriPointeHomes.com

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