Mooresville town commissioners voted on Monday to annex a 131-acre tract and provide town utilities for a mixed-use development near the intersection of N.C. Highway 3 and Kistler Farm Road.
Cambridge Properties Inc., is planning a development that includes 167 single-family homes, 158 townhomes, and 378 multi-family units at the site, along with 60,800 square feet of commercial space.
Prior to approving the annexation and request for utilites, commissioners approved a request to rezone 37 acres from R5 to a combination of R2, RMX and CMX.
Jay Priester, president of Cambridge Development, told commissioners that his firm had worked with the Harris family on the project — and hoped to develop another large parcel that the family owns.
While NCDOT does not currently have any major road improvements planned for the area, Priester said his company would invest $2 million to $3 million in off-site road improvements in the area.
The commercial segment of the development will include a grocery store with 50,000 square feet of space, and three other outparcels.
In other business:
The board allocated $242,700 from the fund balance from the General Fund to help pay for the project. The remainder of funding was included in the fiscal year 2022 budget.
This project is part of the town’s stormwater capital improvement plan.
Read the original article from Iredelle Free News.