The lack of a quorum all but killed a Charlotte-based developer’s plan to have roughly 12 acres that houses a now defunct shopping center annexed into the city of Wilmington.
A motion to annex the roughly 98,000-square-foot former Galleria Shopping Center at 6800 Wrightsville Ave. along with the 12 acres it sits on, died Friday morning without a majority vote from city council members.
Wilmington Mayor Bill Saffo and councilman Kevin O’Grady were the only two council members present for the special called meeting.
Saffo said because of the action of the Wrightsville Beach Board of Alderman on Thursday, there was no need for a public meeting to move forward with the annexation request.
During its town council meeting, Wrightsville Beach officials unanimously voted to reject a proposal to de-annex the mainland property so it could be annexed into Wilmington for redevelopment.
State Street Partners, which placed the property under contract in April after Atlanta-based Equity One Inc. decided to sell the property and removed its tenants, proposed razing the shopping center and constructing a mixed-use multifamily development that would include retail and office space at the ground level and residential rental units above.
While Wilmington's development codes and ordinances allow for residential development on most parcels within the city, Wrightsville Beach does not allow residential development west of the drawbridge on the mainland – an area that abuts Wilmington’s city limits.
Now, with the firm’s annexation proposal killed by both municipalities, officials have not announced whether they will work with Wrightsville Beach to develop the property commercially or terminate its contract.
Brian Eckel, partner and broker with Wilmington-based Cape Fear Commercial that negotiated a contractual agreement between Equity One Inc. and State Street Partners, said Friday the land remains under contract, but he was unaware of what the potential buyer intends to do now with the property.
Jeff Kentner, president of State Street Partners, did not return a message for comment Friday afternoon.
YMCA Eyes Growth With Plans For New, Expanded Facilities
Emma Dill
-
Apr 23, 2024
|
|
Burns, Redenbaugh Promoted At Coastal Horizons
Staff Reports
-
Apr 23, 2024
|
|
Cold Storage Developer Sets Near-port Facility Completion Date
Audrey Elsberry
-
Apr 24, 2024
|
|
Wilmington Financial Firm Transitions To Wells Fargo's Independent Brokerage Arm
Audrey Elsberry
-
Apr 24, 2024
|
|
Krug Joins Infinity Acupuncture
Staff Reports
-
Apr 23, 2024
|
W.R. Rayson is a family-owned manufacturer and converter of disposable paper products used in the dental, medical laboratory and beauty indu...
“My mission and my goal is to take my love of marine science, marine ecosystem and coastal ecosystems and bring that to students and teacher...
Lydia Thomas, program manager for the Center for Innovation and Entrepreneurship at UNCW, shares her top info and tech picks....
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.