Crews for Wilmington firm Real Properties LLC broke ground recently on two apartment projects.
The Varsity, at 724 S. Kerr Ave. in Wilmington, will offer 24 one- and two-bedroom apartments and 5,500 square feet of commercial space.
Construction is expected to be complete within a year, said Matt Scharf of Real Properties. The apartment complex is adjacent to an events center underway by Wilmington Brewing Co.
Some of The Varsity’s commercial space will serve as Real Properties' real estate office, while 3,300 square feet is available for a coffee shop, restaurant or retail use. That space is listed by commercial broker Paul Loukas of Wilmington-based commercial real estate firm Cape Fear Commercial.
“There seems to be a good bit of student housing in that area and this provides a great alternative,” Scharf said, adding that the apartments also give residents easy access to nearby grocery stores, restaurants and other businesses.
Also under construction are more apartments in the Studio 17 project by Real Properties. All the units contain one bedroom in the complex on South 17th Street in Wilmington.
Scharf said the second phase of Studio 17, which is mainly leased to veterans, has eight apartments and 2,500 square feet of commercial space for a potential coffee shop or other use. The commercial portion is listed by broker Terry Espy of MoMentum Companies.
Studio 17 residents receive vouchers that cover water, power and rent, Scharf said.
The architect for both Studio 17, under construction by ACC Construction, and The Varsity, being built by HK Jordan, is Frank Smith, principal of Smith 2 Architecture + Design.
Conservation Group Signs $8M Deal To Buy The Point On Topsail Island
Audrey Elsberry
-
Mar 26, 2024
|
|
Rezoning Could Bring 123 Townhomes To Growing Leland Corridor
Emma Dill
-
Mar 25, 2024
|
|
N.C. Ports Officials React To Baltimore Bridge Collapse
Audrey Elsberry
-
Mar 26, 2024
|
|
Engineering Firm Hires Four Employees
Staff Reports
-
Mar 26, 2024
|
|
National Organization Bestows Top Award On Cape Fear Professional Women In Building
Staff Reports
-
Mar 26, 2024
|
Pender County Manager David Andrews is slated to retire this summer after 33 years in local government....
Polyhose manufactures and fabricates hose protection, paint hose assemblies and rubber hydraulic assemblies from its Pender County facility....
Pender County Realtors recently shared updates about the coastal market at an event hosted by the Wilmington-Cape Fear Home Builders Associa...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.