Due to the long-term strength and the Charlotte real estate market and in order to make a solid financial investment for the resident of Stallings, the Town began exploring options to address Council’s priority of creating a downtown area.
Both the public and various studies have identified a need for a downtown core for the enjoyment and economic health of our community. During the Comprehensive Land Use planning process in 2017, the Town sought input from the public through open houses and community preference surveys. The public expressed a desire for well designed, walkable, mixed-use centers, with greenspace gathering areas, adequate parking and good lighting. The Comprehensive Land Use plan identified a need for a defined Town Center or downtown with walkable streets, gathering spaces, and day and evening activities to serve as a popular destination for visitors and residents. The Town's economic development strategic plan identifies a desire to create a traditional downtown that attracts niche retail, local restaurants, and scaled amenities in a unique walkable Town Center.
The Town Council has set a top priority creating a Stallings downtown. Fortunately, the Town is not starting from scratch in this endeavor as the Town has an award-winning central park, Stallings Municipal Park, along with several key civic buildings. Over the past two years, the Town has also developed a downtown action plan and is in the process of implementing it. For example, the Town recently implemented a downtown farmers market.
One strategy to continuing striving toward a downtown area is to proactively invest to spur development aligned with the downtown vision. The Town has sought to take a similar approach as that of the Town of Kannapolis, albeit on a smaller scale, in seeking to purchase property in our downtown area and then partner with the Development Finance Institute (DFI) of the UNC School of Government for expert guidance on how to proactively spur desired downtown development through public private partnerships. As such, the Town has purchased several parcels including the 4.14 acre track at 2725 Old Monroe Road that previously housed a tractor dealership for $2.75 million. This is a major financial investment but one the Town believes will ultimately be recouped many times over if the successful downtown vision is realized.