“The census from 2010 to 2020, we had a growth of about 33% in population," Concord City Manager Lloyd Wm. Payne, Jr. said. "We anticipate that growth is going to continue."
Many companies are now investing tens of millions of dollars in revitalizing downtown Concord. The goal is to create a city where residents can live, work, and play.
In August 2021, Lansing Melbourne Group (LMG) broke ground on three major developments – Novi Rise, Novi Flats, and Novi Lofts – which together represent an estimated $70 million of private investment downtown.
The Novi Rise property will be the largest of the three projects and represents an estimated $38.5 million in private investment. The project will include 167 units including studio, one-bedroom, and two-bedroom apartments with underground parking and retail space on the street level.
“We depend on Charlotte for a lot of our development that goes on in the city but more than that, we don’t want to just be a bedroom city to Charlotte," Payne said. "We want to create jobs for our citizens."
Affordable housing options
The developer, Lansing Melbourne Group, will create some affordable housing options. Some units are expected to be rented only to people earning at or below 80% of the median income.
“Part of the apartments... will be for workforce housing, as part of the cities effort to advance affordable housing," Payne said.
Businesses like Press and Porter are excited for the change and hope it brings more customers.
“I believe it’s going to be really nice for businesses to grow," Madison Truel, general manager of Press and Porter, said. “We can’t wait to see and grow with Concord."