Groundbreaking ceremony Thursday for project in downtown Concord
CONCORD, N.C. (WBTV) - The City of Concord and Cabarrus County, alongside developer Lansing-Melbourne Group (LMG) and community partners, will celebrate the beginning of site work on three major developments in Downtown Concord – the Novi Flats, Novi Lofts and Novi Rise residential and mixed-use properties.
Together, these projects represent an estimated $70 million of private investment in Downtown Concord.
The ceremony will be held on Thursday at 11:00 a.m. at 25 Barbrick Avenue SW in Concord.
- Peter Flotz, Founder and President, LMG
- Bill Dusch, Mayor, City of Concord
- Diane Honeycutt, Vice Chair, Cabarrus County Board of Commissioners
City officials say that the Novi projects will support the revitalization of Downtown Concord by adding new market-rate and workforce apartments, commercial retail space, and a rooftop restaurant to the heart of downtown.
The City of Concord and Cabarrus County supported the Novi projects through performance-based property tax grants, funded by a percentage of new taxes generated by the grant recipient.
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