Lansing Melbourne Group (LMG) is honored to be a part of the downtown revitalization of Concord, North Carolina. LMG will begin construction on three residential and mixed-use properties this summer. Novi Rise will be the epicenter of the Novi projects and represents an estimated $38.5 million investment in downtown. Located next to the new City Hall on Market Street, Novi Rise will be the largest of the three projects and will host the largest amenity offerings that will be shared among the projects. Novi Rise is designed to stand 7-stories tall as an upscale market rate apartment building with 167 units including studio, one-bedroom, and two-bedroom apartment options. The Novi Rise building will also include one level of parking underneath it consisting of ~75 spaces.
On-site amenities will include a lounge, fitness center, work pods, conference room, dog washing station, and secure Amazon package lockers. These amenities will be accessible to the tenants at the Novi Lofts and Novi Flats projects as well, which will tie the residents together in a sense of community as well as creating even more foot traffic along Market Street. Novi Rise will also have mixed-use retail spaces available on the ground level.
LMG will support diversity and inclusion by dedicating a portion of floating units to workforce tenants earning at or below 80% of the area median income.
The City supported the entire Novi project through a downtown MSD performance tax-based incentive agreement. In addition, the City of Concord and Cabarrus County made commitments for evening parking and paid weekday parking passes if ever necessary in the future in the Cabarrus County Parking Deck.
Current: Demolition Underway
Construction Start: Mid 2021
Estimated Completion: Mid 2023