New Hanover County commissioners will soon weigh on a large-scale apartment development proposal on Market Street.

Called Futch Creek Village, development officials with Wilmington-based Ridgewood Health Investors LLC are proposing to construct the 267-unit apartment complex on 37 acres of land the firm owns at 8704 Market St.

Bill Schoettelkotte, vice president of development services for Wilmington-based Cape Fear Commercial that’s representing the firm, said officials hope to start construction on the $25 million project by the first quarter of 2013.

The development might well be on its way.

The county planning board on June 7 approved special zoning for the development under its exceptional design zoning district, or EDZD – which provides developers with voluntary design flexibility that discourages urban sprawl and preserves and protects natural resources.

Commissioners are slated to vote on the rezoning and the firm’s development plans at a July 2 meeting.

Schoettelkotte said plans include six apartment buildings and eight townhome units. The project also would preserve on-site wetlands, include a pool, clubhouse, multi-use path, passive open space and multipurpose field.

He said the apartments would be one- to three-bedroom units that would rent for an estimated $800 to $1,300 a month.

While 25 acres would be reserved for the apartment development, Schoettelkotte said the remaining 12 acres would be used for commercial purposes.

“The commercial component would be used for doctor offices and other small retail uses,” he said. “The plan is to have it front Market Street.”

Schoettelkotte said developers also have plans to mitigate the traffic in the area – a major concern for residents who reside in Porters Neck. He said there is a plan to add a right turn lane at the traffic signal on Market Street, along with adjusting the timing of the traffic light to allow drivers on Futch Creek Road more time to pass through the intersection.