Print
More News

City Staff Recommends Moving Forward With $90M Proposal

By Christina Haley O'Neal, posted Oct 14, 2019
East West Partners' $90 million mixed-use proposal will go before city council this week. (Image courtesy of the city of Wilmington)
Wilmington City Council is slated to consider a resolution that would advance a $90 million mixed-use development proposal for Wilmington's northern downtown entrance submitted by River Place developer East West Partners.

City staff is recommending acceptance of East West's proposal for redeveloping four city-owned properties at 1020, 908 and 922 N. Front St. and 901 N. Third St., according to city documents.

A resolution slated for city council's consideration recommends it authorize the city manager to enter into a memorandum of understanding (MOU) with East West Partners in an exploration period for the project. A purchase and development agreement (PDA) is expected at the end of the exploration phase, the city document states.

The developer's plans include three multistory buildings and green space on about 4 acres located at the north entrance to the city, which officials have dubbed the northern gateway.

The plans include a 72,000-square-foot hotel with more than 120 rooms; a 9,000 square-foot visitors center; residential space with 194 units, 5% of which are proposed to be affordable; a 31,000-square-foot grocery store; and parking.

East West Partners' proposal was the only one received by the city in response to its request for development proposals for the properties. That period ended in late August.

East West Partners is currently leading the 13-story River Place project, a more than $80 million development, under construction on Water Street.

Should city council approve the resolution Tuesday, an MOU could be developed and go before council for review in mid-February and a PDA could go before council sometime in mid-August, said Erris Dunston, assistant to the city manager for economic development, following council's agenda briefing Monday.

The council is scheduled to meet at 6:30 p.m. Tuesday at Wilmington City Hall, 102 N. Third St.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Mike stonestreet 300x300

HOA Meetings are for More Than Board Members

Mike Stonestreet - CAMS (Community Association Management Services)
Robindavisccu1 1011944433

When is the Best Time to Buy a New Home? 

Robin Davis - Corning Credit Union (CCU)
Hewet60

Leadership Starts At The Top!

Ron Hewett - Academy Leadership

Trending News

Practice Eyes An Eye Surgery Center For Wilmington's Medical Corridor

Cece Nunn - Nov 8, 2019

In The Current Issue

Education To Grow A Workforce

Cape Fear Community College is in the process of expanding and adding several programs at its Burgaw campus to fuel the local workforce....


Southern Bank And Trust Spreads Its Wings

In its first year with a full-service branch in Wilmington, Southern Bank and Trust Co. seems to be making big strides....


Economic Development Part Of Community Survey

Economic development is among topics of a survey on area residents’ perception of discrimination....

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

August 26, 2019 Power Breakfast: A Healthy Sale?
WILMA's Leadership Accelerator
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`