Concord and Kannapolis Set to Explode in Growth...Value

Wow, Kannapolis and Concord, hold on to your seats....and home values! I had the fortune of attending the Bio Tech Conference held at the University of North Carolina at Charlotte and was able to hear the top Civic Leaders and Scientists and Business Professionals from around the Region and some of the US speak about the growing Bio Tech Center being built by Mr. Murdock in Kannapolis. This complex is being hailed as the "Cathedral of Science" and is a testament to what can be accomplished when the Region and State back a project 100% mixed with the determination and passion of a self made Billionaire. I attended this meeting with a good friend: Taylor Barden with Morgan Stanley and we were amazed at the incredible development that is occurring here in our region. Here are just a few highlights:

Here is the web site, http://www.ncresearchcampus.net/. It is a massive place, expected to employ ~5000 research, scientist, doctors (the majority of these initial jobs will be at a Doctorate level....and a Doctorate PAY LEVEL which is excellent news for this portion of the market and obviously housing values for our investors and ~30,000 other jobs that will be all different levels of skill/pay and many of these new jobs will be a tremendous boost to an already healthy rental market. Kannapolis now is just a town of 40,000. David Murdoch is spending $1B plus adding another $100M to start a Biotech Venture Fund. It is simply incredible to hear about the different Universities taking place and their very amibitious plans for different types of projects including creating/designing better foods/crops, cellular research, and many more.

Here's what's planned;
• Kannapolis government center
• Town Hall
• A municipal library that will provide interconnectivity among the major research universities throughout the state
• A 350-acre mixed use development in downtown Kannapolis – 25 miles north of Charlotte
• An $80 million, state-of-the-art, 311,000-square-foot Core Laboratory now under construction and estimated to be complete by December 2007
• 1 million square feet of office and lab space for lease
• 350,000 square feet of retail and commercial space for lease
• Experimental greenhouse facilities available for lease
• Over 700 residences, including townhomes, apartments and single-family homes
• A golf course designed by pro golfer Davis Love located less than 3 miles from the campus
• A 1,000 seat auditorium
• A 125-room hotel
• A world-class wellness center
• A retail area that will include shops, restaurants and a movie theater

This is GREAT news for our Region and GREAT news for investors as this is yet another major drawing point for outside business, economic drivers, and overall improvement of our region.