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

Ico insights

INSIGHTS

SPONSORS' CONTENT
Sabrinaheadshot300x300

What Do Your Office Walls Say About You?

Sabrina Davis - Port City Signs & Graphics
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Three Tools to Make Your Startup Social Media Painless

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Volety 0020 1121724229

Data Scientists in High-Demand

Aswani Volety - UNCW College of Arts and Sciences

Trending News

After 40 Years, Air Wilmington Could Have New Owner

Christina Haley O'Neal - Feb 19, 2018

Pollution Concerns Slow National Gypsum Incentives Discussion

Cece Nunn and Christina Haley O'Neal - Feb 19, 2018

In The Current Issue

It’s All Relative

Across all industries, there are more than 1 million family-owned firms in the United States. Some of the family members who work at Wilming...


A Family Business Rooted In Wilmington

A fourth-generation family business holds its manufacturing operations at the same mill off Castle Hayne Road that it started more than nine...


Made: Powering Up Across Industries

Power cord manufacturer Feller LLC in Leland was founded in the U.S. in 1984....

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes