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I can remember when people used to say "Kannapolis? You live there?" And then display a moue of distaste
a1m1700, you ought to drive over and check out the downtown area next time you're around and have time. It was Murdoch's project, back in the 80s, and he can be justifiably proud in the renovation. Nowadays, the business area is going through a slump (this from talking to that grill owner) and the people running the shops are not happy at the town poobahs. They feel that all the emphasis is being placed on promoting the biotech campus, and very little on promoting the downtown area. They are being told "once the campus takes off, a boom will follow", but the shopkeepers are saying "yeahhh, but that's still aways down the road. we have to make a living now!"
Btw, those pictures were taken on a Friday afternoon. It was not busy .
I think he means they are putting some much time and effort on getting the bio-campus off the ground and the downtown is playing second fidal. Things are slow because they took everything down and demolished it. They are not putting any money into anything until the Campus is underway. With the addition of the campus things will come but until then the business owners there will suffer because nothing is going on there. I think It's almost like rebuilding the place from scratch. It seems to be moving fast from what I've been reading but probably 2-3 years till that campus is in full swing.
I'm saying 5 years and it's all booming.
Am I right Silverwing? Is that what you meant? If not tell us.
I think he means they are putting some much time and effort on getting the bio-campus off the ground and the downtown is playing second fidal. ...
Am I right Silverwing? Is that what you meant? If not tell us.
Thanks
Something like that. Downtown Kannapolis used to be a big tourist draw. There were several furniture stores, restaurants and arty crafty places. Now ... hoo, that place seems dead I think a lot of heart went out of the area when the layoffs began at the end of the 90s, culminating in almost 5000 people losing their jobs in one fell swoop back in 2003. I was just doing some looking around on this subject and found this recent article on the continuing decline of businesses
http://www.keepmedia.com/pubs/CharlotteObserver/2006/04/09/1395019?ba=a&bi=1&bp=97 (broken link)
From my talk with one of them, the downtown merchants do feel that they've been left in the dust when it comes to promotion of the area and funds to keep their businesses going. Their sales taxes over the last two decades added to the coffers of the municipality, now they're being ignored.
Tornado, investing in that area is a crapshoot. Check this article
http://www.ncbiotech.org/news_and_events/industry_news/kannapolis_research_campus.html (broken link)
There is confidence that many thousand jobs will be generated by the campus, so developers seem interested. I also saw street after street of former mill houses that had been fixed up into sweet little cottages. My speculation is that some of this may be from people who can't afford to buy into the expensive subdivisions that the transplants preen over. Not everyone can afford $180K+ houses. The remodeled houses in Kannapolis are going for under $100K. However, some people are probably buying and fixing up the houses with the thought that some biotech employees will prefer the charm of the historic homes over cookie cutter subdivisions.
The larger tracts are priced in the realm that only developers could afford. If you are looking at small investing, I'd check the area out, talk to the business owners, though be prepared for some unfriendliness. When I told the grill owner that I've been reading a relocation board and about the interest in this state from Floridians, NE'sters and folks from the southwest, he grunted "yeah, and they bring their problems here, too."
Something like that. Downtown Kannapolis used to be a big tourist draw. There were several furniture stores, restaurants and arty crafty places. Now ... hoo, that place seems dead I think a lot of heart went out of the area when the layoffs began at the end of the 90s, culminating in almost 5000 people losing their jobs in one fell swoop back in 2003. I was just doing some looking around on this subject and found this recent article on the continuing decline of businesses
http://www.keepmedia.com/pubs/CharlotteObserver/2006/04/09/1395019?ba=a&bi=1&bp=97 (broken link)
From my talk with one of them, the downtown merchants do feel that they've been left in the dust when it comes to promotion of the area and funds to keep their businesses going. Their sales taxes over the last two decades added to the coffers of the municipality, now they're being ignored.
Tornado, investing in that area is a crapshoot. Check this article
http://www.ncbiotech.org/news_and_events/industry_news/kannapolis_research_campus.html (broken link)
There is confidence that many thousand jobs will be generated by the campus, so developers seem interested. I also saw street after street of former mill houses that had been fixed up into sweet little cottages. My speculation is that some of this may be from people who can't afford to buy into the expensive subdivisions that the transplants preen over. Not everyone can afford $180K+ houses. The remodeled houses in Kannapolis are going for under $100K. However, some people are probably buying and fixing up the houses with the thought that some biotech employees will prefer the charm of the historic homes over cookie cutter subdivisions.
The larger tracts are priced in the realm that only developers could afford. If you are looking at small investing, I'd check the area out, talk to the business owners, though be prepared for some unfriendliness. When I told the grill owner that I've been reading a relocation board and about the interest in this state from Floridians, NE'sters and folks from the southwest, he grunted "yeah, and they bring their problems here, too."
The comment "most can't afford $180k" worries me the salaries are low there
The comment "most can't afford $180k" worries me the salaries are low there
That's something you'd have to research. As reported in that biotech article:
Quote:
Biomanufacturing jobs have increased by 7 to 10 percent a year in the past decade. Salaries range from 26,000 in average starting wages to $40,000 or more with experience.
I recall a recent post about a teacher moving here with a combined salary anticipation of $60k. Spouse and I make more than that, but it is in the IT field where we have decades of experience and good work reviews.
Frankly, the house prices boggle me. When we moved here 20 years ago, we bought a large, newly constructed house for around $100K - and that was in an upscale subdivision. A realtor who took us to Matthews showed us brand new houses that listed in the $90s. 10 years ago, we paid about $7k/acre for rural land. Today, an acre adjacent to ours is listed for $28K - and nothing in this area justifies such a jump in price. No new businesses; you'd still have to put in a well and septic tank to live here.
Construction costs have risen, certainly, and land is being scarfed up by developers, but I also have an inkling that house prices have gone up because people can afford to pay that much. Transplants of decades past didn't have the huge equity from houses in bubble markets. Today:all the comments about selling houses in more valuable markets and paying down to a small mortage or none at all on one here? I have to wonder about that being reflected in the higher prices for houses
I hear you. Last yr wife and I made over $117k I worry about going to $30k each only to save $700 a month on a house payment. I do agree the crime is better there. I guess we will see if it worth the income cut when we go out there. I assume you live in NC or SC? Now, if I could buy 1acre of land for $28k (here that is $150-500k) and sell in 20 yrs for $240k 8x what I paid (4x every 10 yrs) I would be happy!
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