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.

Speakers include:

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.