Print
Government

Castle St. Redevelopment Proposal Back On The Table

By Christina Haley O'Neal, posted Aug 16, 2019
The property at 1110 Castle St. is owned by the city. Only one proposal was received for a redevelopment project at the former Wave Transit site. (File photo)
Wilmington City Council will again hear about a proposal for a mixed-use development on city-owned property, formerly used as a Wave Transit maintenance facility.

The revised proposal from Hipp Architecture & Development for the redevelopment of 1110 Castle St. is slated for council's agenda Tuesday. 

City staff previously recommended rejecting the proposal, which was the only one received when the city issued an RFP for the property's development in May. City council, however, at its July meeting decided to give the proposal more time and motioned to continue the item to its August meeting.

Hipp Architecture proposed a mixed-use project that included affordable housing and would potentially bring together a group of private investors and community development partners, including Cape Fear Habitat for Humanity.

Since the city meeting last month, the firm has had ongoing discussions with the city about his company's proposal, Clark Hipp, of Hipp Architecture, said Friday.

Submitted with the original resolution is a detailed list of what the firm plans to accompolish toward the project over 120 days, starting Aug. 21.

The firm has laid out several major and intermediate milestones during its predevelopment phase, which include securing financing with letters of intent from investors and lenders; completing the development design and seeking TRC approval; obtaining a residential and commercial marketing study; and conducting a community engagement meeting, according to a city document.

"This item is continued from your July 16, 2019 meeting; as a result, the resolution is the same as was considered at that meeting. Should Council decide to accept the proposal from Hipp Architecture, the motion for consideration would be to accept the proposal, including the development timeline, and to direct staff to work with the developer on a Purchase and Development Agreement reflective of the revised proposal," stated the city document.

Hipp Architecture is set to present its revised proposal with the timeline and benchmarks to the council Tuesday, Hipp said.

“The goal was to create a set of benchmarks with a corresponding timeline that we would have to meet before the city would approve our proposal,” he said. “Our hope is they will resolve to accept our proposal with the timeline and benchmarks included.”

Discussions with the city leading up to the meeting have been also about looking at ways to improve the residential density, Hipp said.

“We have looked at trying to get more residential units into the design,” he said. “There have been requests to see if there is a way to create a mixed-income project, with some affordable and some market-rate units.”

In the RFP, the city said that proposals that included affordable housing were likely to receive preference in consideration.

With the increase in residential density, Hipp said the firm has decreased some of the commercial square footage for lease from the original proposal.

“I definitely think the city is more receptive," Hipp said. "I think, again, they assumed they were going to end up selling the property so they had not really thought about how they could enhance or impact the development of the property. I think they see now that there is an opportunity to improve the community impact by increasing residential density and addressing some of the environmental issues."

“My feeling was initially, they didn’t see themselves as a partner in this development and now I think they realize there is an opportunity to partner and improve the overall project in that way. So far, the discussions I have had have all been positive," Hipp said.

On the investment piece, the firm has been talking with potential investors and lenders but no commitments had been finalized as of Friday, Hipp said.

Backing from the city could help make the project more successful in getting funded, Hipp said. With the added residential units, the project estimate is now roughly $7.5 million, up $500,000 from the original, he said.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign2

The Importance of Real Estate Appraisals

Steve Mitchell - Cape Fear REALTORS®
Untitleddesign2 9202334730

Best in the State: Providing Quality Care to Medicare and Medicaid Patients Allows Novant Health New Hanover Regional Medical Center to Reinvest in Community

Novant Health - New Hanover Regional Medical Center Novant Health
Burrus rob headshot 300x300

Spreading Wings for Flight: 2nd Annual Trade Show Highlights the Ingenuity of UNCW Business Students

Robert Burrus - Cameron School of Business - UNC-Wilmington

Trending News

Conservation Group Signs $8M Deal To Buy The Point On Topsail Island

Audrey Elsberry - Mar 26, 2024

National Organization Bestows Top Award On Cape Fear Professional Women In Building

Staff Reports - Mar 26, 2024

Engineering Firm Hires Four Employees

Staff Reports - Mar 26, 2024

N.C. Ports Officials React To Baltimore Bridge Collapse

Audrey Elsberry - Mar 26, 2024

NCino's Fourth-quarter Earnings Signal Rebound From Liquidity Crisis

Audrey Elsberry - Mar 27, 2024

In The Current Issue

Berries, A Battlefield And More In Pender

The N.C. Blueberry Festival, founded in 2003, is one of several events in Pender County that have drawn more attention over the years....


INFO JUNKIE: Jack Fleming

Jack Fleming, owner of Socialry Marketing & Scourz and emcee for 1 Million Cups Wilmington, shares his media and tech picks....


Expanding Tastes On Castle Street

As John Willse and Beth Guertin, owners of Wilmington Wine bottle shop and now the recently opened Creative Tastings restaurant on Castle St...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2023 Power Breakfast: Major Developments