The downtown vacant lot on which The View on Water Street was going to be built is being put up for sale again, barely a month after it was bought by BB&T for $1.7 million at a court-ordered foreclosure auction.
BB&T has contracted Cape Fear Commercial to market and sell the 0.76-acre lot.
“We’ve gotten a tremendous amount of interest,” said Brian Eckel, Cape Fear Commercial partner.
As a result, the company is releasing a “call for offers” for the prime piece of downtown property at 101 N. Front St. The call for offers is open from now until the end of August. No price has been set. He declined to comment on who has expressed interest.
The company recently held a similar call for offers on the 11 units at Bannerman Station located at 124 Walnut St. for the seller. It received over 10 offers and closed last month, Eckel said.
The View was to have been a mixed-used condominium and hotel. But the property was put up for auction June 10 after BB&T won a foreclosure action against the group of borrowers who had originally bought the land in July 2007 for $6.5 million. BB&T was the holder of the promissory note.
Terry Espy, president of Momentum Group, which was to have been the developer of The View, recently said she had lined up eight new investment partners who were interested in buying the land located at the corner of Princess and North Front streets.
Calls to her from the Greater Wilmington Business Journal over the past two days have not been returned.
When asked if Espy had been in touch with him about possibly buying the land, Eckel said he had no comment.
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