Wilmingtonbiz logo
Print
Real Estate - Commercial

Developers Hope To Begin New Downtown Building This Year

By Cece Nunn, posted Apr 24, 2017
A two-story commercial building, shown in a preliminary conceptual drawing by Ted Trzos at top, is proposed for 200 Market St., shown as it looks currently on bottom. (Rendering courtesy of and all rights reserved © 2017 AD Theodore Trzos/city documents)
A developer is moving forward with plans for a building in downtown Wilmington that could include multiple specialty retail shops on the first floor and a night club on the second floor.

Developer Gene Merritt and his partner John Sutton hope by this summer to start building a two-story, 10,000-square-foot building on the site of a parking lot at 200 Market St.

The proposed building was approved by the city's Historic Preservation Commission in March, and recently submitted site plans for the project are expected to be reviewed by Wilmington's Technical Review Committee in May, according to the city's project tracking website.

Merritt said Monday that he and Sutton hope to close on the property and start construction this year and be finished with the new building by 2018. He estimates the project, which is being designed by architect Stan Fowler, will take nine to 10 months to build.

"At this time, we believe we have a likely [nightclub] tenant for the second floor, and we're pretty sure we've got one [retail] tenant for the first floor already committed," Merritt said, adding that such commitments would be contingent upon city approvals and Sutton and Merritt closing on the property, which they have under contract for an undisclosed amount.

The current owner is Wells Real Estate Holdings LLC.

The eight retail spaces on the first floor of the planned building are part of a strategy to offer smaller-than-usual retail spaces to specialty sellers with unique products, Merritt said.

He said he believes the building will enhance downtown Wilmington.

"We're already a strong entertainment zone, but I think it will add a little more capacity to the entertainment scene, and it will add more diversity in terms of specialty shopping," Merritt said. "It will also add employment to the downtown area and a nice new tax base to the city and county."

Correction: This version corrects the name of the architect designing the building planned at 200 Market St.

Story On The Map

Join The Discussion

Similar Stories

Ico insights

INSIGHTS

SPONSORS' CONTENT

Book On Business

Bob2017

The 2017 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!
Print Only
$24.95 - Qty
Print + Excel File
$79.95 - Qty

In The Current Issue

Making Waves In Wrightsville Beach

Many Wrightsville Beach goers are probably familiar with popular juice, smoothie, acai and froyo shop SurfBerry. The health-food store has been a popular destination for locals and tourists alike since opening five years ago, but what many do not know is that the store is just the tip of the business iceberg for owner and creator Rick Civelli.

Below The Surface On Area’s Dive Industry

Twenty-five years ago, workaholic software writer Shawn Nasseri discovered personal serenity when he took his first plunge as a scuba diver....

Rexroad Talks CresCom, First South

A planned merger with First South Bancorp Inc. will propel Carolina Financial Corp. toward a major goal: having a presence in North Carolina...

Ico topnews Editor's Picks

Firm Plans To Sell 14,500 Acres In Brunswick County

Christina Haley O'Neal - About 6 hours ago

New Dollar General Store Proposed In Wilmington

Cece Nunn - About 7 hours ago

Southport Center Sells For $2.9M

Cece Nunn - About 8 hours ago

Developer Plans 1 Million Square Foot Project On Eastwood Road

Cece Nunn - Jul 26, 2017 Trending News
Law Firms

Hamlet & Associates, PLLC

Ico trending Trending News

Ico newsinimages News in Pictures

Have a tip, pitch or guest column?  Send us a tip.

Gallery Galleries

Video Videos

Power Breakfast: Coach C.B. McGrath - June 2017
Wilmington's Most Intriguing People of 2016

Register to Continue Seeing Wilmington's Best Business Coverage!


There are three ways to register for free.

Sign in with LinkedIn, Facebook or create an account:



Already registered? Login here.

Your free registration includes:

  • Access to 10 articles per month on WilmingtonBiz.com
  • Email updates to stay informed on local business news
  • A mobile optimized website
  • Advanced notification of Business Journal events
  • Management of your digital and print subscriptions
Laptop iphone ipad