Looking forward to what 2017 may bring to the greater Wilmington area, there are new commercial and residential real estate projects underway, potential changes for a major employer, a golf tournament to bring waves of visiting spectators and companies to town, a new tax for downtown property owners and more talk about whether film will rebound in the region or not.

Here are some of the areas the Business Journal will be exploring in the coming year.

Housing Market

Realtors have high hopes for this year’s housing market in the Cape Fear region.

By the end of November 2016, New Hanover, Pender and northern Brunswick County had had one of the best years for sale volume, at more than $2 billion, and units sold in more than a decade.

Neal Johnson, president of the Wilmington Regional Association of Realtors, predicts 2017 will be just as strong, if not better, than last year.

“We expect our market to continue to grow like it has over the past several years,” Johnson said. His Brunswick County counterpart also sees a bright future.

“I’m very optimistic about next year,” said Ben Styres, president of the Brunswick County Association of Realtors, in December. “I think we’re going to have a very good year as we did this year.”

The inventory of homes at certain price points, however, is expected to continue to be a challenge, with less inventory below the $250,000 mark than Realtors would like.

Commercial Real Estate

Grocery stores poured millions into the Cape Fear region in 2016, buying land and planning new locations, with chains new to the area flowing in and expected to be under construction this year.

But grocery stores won’t be the only newsmakers in the commercial real estate industry in 2017.

Independence Mall, whose owners defaulted on a $110 million loan two years ago, could be getting a new owner during the first quarter, according to an analyst’s report, and major new non-grocery store retail space is on the way.

“While some of our development clients have found financing to be harder to achieve, the fact remains we are achieving that financing,” said Nicholas Silivanch, partner and broker with Eastern Carolinas Commercial Real Estate. “When you look at the Wilmington and SENC marketplace you’re seeing contraction on vacancy and the start of new construction.”

Major Employers

Wilmington-based Pharmaceutical Product Development (PPD) could be exploring a sale that might value the drug research company at $5 billion, according to recent reports.

The Wall Street Journal reported in December that the company had hired Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Centerview Partners in the search for a buyer. The article added that a deal could be reached in the first quarter of this year if one is made.

GE-Hitachi, a provider of advanced reactors and nuclear services, plans to continue its efforts in the research and development of its technologies.

“It’s a pivotal time for the nuclear power industry, and we look forward to continuing to pursue outage and fuel services business and to sharpen our focus on opportunities in the boiling water reactor, pressurized water reactor and advanced reactor segments,” said company spokesman Jon Allen.

Corning Inc., based in New York but with facilities in North Carolina and Wilmington, is expanding in the state in 2017. Corning will expand operations at its facilities in Hickory and Winston-Salem, where the company plans to add 205 jobs and invest nearly $83.5 million in the state over the next five years.

Those expansions – in the company’s Optical Communications divisions – are not expected to impact the Corning facility in Wilmington, however, which manufactures optical fiber and employs about 1,000 people though company does not officially disclose its staff numbers here.

Film Industry

As of mid-December, no new productions had been allocated funds from $30 million in a grant fund for the state’s current fiscal year. The program replaced the state’s film tax credit incentives in 2015.

Some business leaders in Wilmington said the replacement decimated the film industry in the Cape Fear region and the state.

But there was some activity last year. Another $30 million in grant funding for the fiscal year 2015-16 was spoken for in the initial round. And two TV shows that received grants, Six and Good Behavior, filmed in Wilmington in 2016.

“We’re still waiting to find out on the renewals of Good Behavior and Six,” Wilmington Regional Film Commission Director Johnny Griffin said in an interview in November. “Otherwise, we’ve got some projects that we’re talking to, but nothing firmed up.”

The Wilmington-shot shows were projected to spend a combined $55 million locally and to employ 350 to 400 people. Good Behavior, a TNT drama, premiered Nov. 15, and Six, a History Channel military drama, is slated to start airing Jan. 18.

Legislators in the upcoming session that starts this month could consider a change to the grant program when the two-year deal ends in July.

Wells Fargo Golf Tournament

The golf world descends on Wilmington this spring, as Eagle Point Golf Club plays host to the 2017 Wells Fargo Championship.

The tournament, usually held in Charlotte, will be held in Wilmington May 1-7 and is expected to bring as many as 30,000 spectators a day, according to organizers.

The economic impact in dollars is estimated to be between $40 million and $60 million for the Wilmington area.

“The reach of the golf tournament is far and wide,” said Kym Hougham, executive director of the tournament, adding that scenes from Wilmington are expected to reach 1 billion households across 225 countries and territories outside the United States through international TV partners.

The high-profile tournament was moved from its usual setting at Quail Hollow Club in Charlotte to Eagle Point for one year to give Quail Hollow time to prepare for hosting the 2017 PGA Championship in August.

Area business and chamber leaders also are trying to use the event to attract potential new employers through a regional economic development marketing effort.

In September, the Wilmington Chamber of Commerce announced the effort, along with $100,000 in seed money, plans to raise private funds, hire a marketing firm and involve other area chambers and business groups.

Municipal Services District

After city officials voted in December to create Wilmington’s first Municipal Services District, the next task was to appoint an advisory committee made up of at least 13 members and then choose what entity will manage the extra services.

The city was still taking applications for the advisory committee as of presstime. The additional 7 cents per $100 tax value that comes with the creation of the MSD, which will be paid by property owners in Wilmington’s Central Business District downtown, is set to take effect in July.

Under a proposal, the annual budget of a little more than $275,000 generated from the tax could fund extra security, cleanliness, economic development and other programs in the CBD. But how the money is actually spent will ultimately be up to the advisory committee.

The City Council, which voted 6-1 on Dec. 6 to create the MSD with Councilman Paul Lawler voting against the measure, will appoint the advisory panel and choose a management firm.

Lawler said in December that there was interest on the part of city officials in making sure a majority of the people on the MSD advisory board are property and/or business owners who will have to pay the tax.