Fortius Capital Partners has received approval from the City of Concord to construct a 1.3 million square foot industrial project, with an estimated budget of $125 million. According to reports by the Charlotte Business Journal, incentives have been granted by the Concord City Council for the development of Concord Commerce Park. These include $11.2 million in public infrastructure costs such as roadways, water and sewer improvements surrounding the project site.
Additionally, a five-year incentives grant has been added for this park which could potentially amount up to $2.55 million depending on total investment in the project over that time period.
Concord Commerce Park will cover approximately 160 acres near The Grounds at Concord – a large industrial development located at what was once known as Philip Morris site (see photo). Preliminary plans for this venture involve constructing nine industrial buildings between 2024 and 2028 with sizes ranging from 84,000 to 250,000 square feet each.
Fortius Capital Partners has obtained clearance from City of Concord authorities for their proposed construction plan involving an expansive business park spanning over one point three million square feet area worth around one hundred twenty-five millions dollars investment estimate.
As per recent updates published by Charlotte Business Journal sources reveal that council members have sanctioned additional benefits towards building infrastructural facilities like roads along with water supply and sewage systems within vicinity areas encompassing designated premises where Fortius is set out develop its ambitious commercial venture titled “Concord Commerce Park”.
In addition city officials also announced special grants extending up-to five years tenure valued close two point fifty-five millions dollars subject upon overall financial investments made during stipulated duration underlined earlier above mentioned scheme’s initiation date scheduled somewhere around year twenty-twenty-four till next four years until year twenty-twenty-eight respectively when final phase would be completed comprising nine separate structures varying size wise starting eighty-four thousand going all way upto quarter-million sq.ft range being envisaged currently according to initial blueprints.
