Print
Real Estate - Commercial

New Mixed-use Development Planned On Military Cutoff Road

By Cece Nunn, posted Nov 4, 2016
A real estate development and management firm bought more than 30 acres on Military Cutoff Road that includes the Hidden Lakes Mobile Home Park. (Photo by Cece Nunn)
A new mixed-use develpment could be on the way to Military Cutoff Road.

The Carroll Companies, a real estate development and management firm based in Greensboro, recently bought more than 30 acres at 565 Military Cutoff Road for $4 million, according to a New Hanover County deed. The address is home to Hidden Lakes Mobile Home Park.

The firm is planning a high-end mixed-use development for the property called The Avenue, said Amanda Haege, chief of staff of The Carroll Companies.  

No other details on the potential development are currently available because the project is still in the planning stages, Haege said. 

The Carroll Companies website says the firm "is best known for its luxury multi-family developments and visionary mixed-use lifestyle centers." Subsidiaries include Alaris Homes, which offers new single-family homes in Greensboro, Winston-Salem and other Triad areas; RE Caroll Management; Bee Safe Storage; Snap Publications; and CIP Construction, the multi-family development arm of The Carroll Companies. 

"CIP Construction currently operates in the Carolinas, Georgia, Tennessee and Texas and has approximately $450 million in residential, commercial, and mixed-use projects under development," according to The Carroll Companies website. 

Wilmington brokers Cody Cress and Tyler Pegg with The CRESS Group of Coldwell Banker Commercial Sun Coast Partners represented The Carroll Companies in the transaction, while Carlton Fisher of Coastal Realty Co. represented the sellers, William and Brenda Towles. The deal closed on Oct. 31. 

According to the city of Wilmington's zoning map, the property is zoned MHP, manufactured home park, and would require a rezoning to accommodate a mixed-use development.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Jasonpathfinder3

Understanding Stock Compensation Plans | Part I: Restricted Stock Units

Jason Wheeler - Pathfinder Wealth Consulting
Aaeaaqaaaaaaaaidaaaajdhiztrkodm0lte2yjetngrkmy1hotrmltawmdvlmwqyztmymw

Something In The Way You Walk

Diane Durance - UNCW Center for Innovation and Entrepreneurship
Frankjolly liveoakprivatewealth

Roaring Market, Rocky Economy

Frank Jolley - Live Oak Private Wealth

Trending News

Trask Land Plans Two Communities On More Than 500 Acres

Cece Nunn - Sep 17, 2020

Judge Rules Wilmington Vacation Rental Code Illegal

Cece Nunn - Sep 16, 2020

Pier 33 To Offer First Phase Of Apartments In October

Jenny Callison - Sep 15, 2020

Landon Zimmer Reappointed To State Transportation Board

Christina Haley O'Neal - Sep 15, 2020

WDI Names New MSD Operations Manager

Christina Haley O'Neal - Sep 15, 2020

In The Current Issue

NHRMC Moves To Limited Visitation

On Aug. 25, New Hanover Re­gional Medical Center eased some of its visitor restrictions that have been in place since March when the COVID-1...


Building A Career Around Home

As a child in the Western North Carolina town of Black Mountain, Annah Norris didn’t really have a place to call home....


Bakery Gets A Taste For Success

When Brian Dickey opened Sweet D’s Cuisine, a bakery located at 2321 S. 17th St. in the old Priddyboy’s location, he thought he would be abl...

Book On Business

The 2020 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2020 Leadership Accelerator: Virtual Workshops for Real Leaders
2019 Health Care Heroes
August 26, 2019 Power Breakfast: A Healthy Sale?
2019 WilmingtonBiz Expo Keynote Lunch - CEO, nCino, Pierre Naude`