Mooresville downtown: Urban settings like this are hot commodities in commercial, residential real estate

By Dave Vieser.  Downtown Mooresville is experiencing a major comeback. Stores that were vacant have new tenants, and more business have their sights set on the “authentic” business district that already has elements of place-making, multiple uses and an utter lack of sterile, dehumanized space.

An $18 million apartment and commercial building is planned on the site of a 126-year-old textile mill on Church Street.

BALLARD

The three-acre site, to be called Mill One, was recently rezoned by the Mooresville Board of Commissioners in preparation for 90 apartments on three floors. A brewpub, restaurants and other commercial uses are also planned, said Brad Howard, president of Langtree Group, which is developing the site.

“Mill One (the original 1893 textile mill) was the catalyst to bring other textile manufacturing to Mooresville,” he says. “Now it will be the catalyst to bring food,” and other uses to a 21st century Mooresville.

The project targets Millennials with mostly studio and one-bedroom units.

“A development like this will help make downtown Mooresville a destination,” said Kirk Ballard, president of the Mooresville-South Iredell Chamber of Commerce.

Financing will come from a combination of investors, bank money and other commercial sources, according to Vinny Giglio and Mark Halteman, partners in MV2, which will own the project.

They’re aiming for a fall 2021 opening.

The heart of downtown Mooresville is the commercial district encompassing Main and Broad Streets, from Town Hall to John Franklin Moore Square. Parallel sections of Church and Academy Streets are also part of the downtown.

Urban settings like downtown Mooresville are hot commodities.

ROSE

“People are seeking unique and authentic experiences. This fares well for historic buildings and traditional downtowns, rather than the repeat of same strip, big box and other prototype development scattered throughout most major urban and suburban thoroughfares,” said Kathleen Rose, CEO of Rose Associates, a real estate and economic development firm based in Davidson.

Successful spaces are multi-functional and changeable. And Mooresville merchants are capitalizing on their downtown.

Indeed, Tasty Town USA, is a 2.5 hour walking tour through downtown Mooresville. Small plates are available at six or more restaurants, along with local history and food facts. Reaction has been very positive.