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Real Estate - Commercial

2016 Top Stories: No. 2 - Major Mixed-Use Projects Marked Milestones

By Cece Nunn, posted Dec 16, 2016
Apartments and retail space are part of Marina Village at RiverLights, a mixed-use community that celebrated its grand opening this month. (photo by Chris Brehmer)
New, highly anticipated mixed-used communities in Wilmington gained traction during 2016, including RiverLights on River Road and midtown’s Barclay development.

RiverLights

A 1,400-acre project that includes a variety of homes, commercial space, public parks and views of the Cape Fear River, RiverLights celebrated a grand opening Dec. 3. Under development by Newland Communities and under construction by numerous local, regional and national builders, RiverLights could hold more than 2,200 single-family and multifamily homes at full build-out.

As of Nov. 21, nine homebuyers had already signed pre-sale agreements in the development’s 55-plus community, Del Webb Wilmington RiverLights. Developers expect to tap into the growing baby boomer population.

“People are visiting us now and purchasing their new home ahead of the holidays and New Year,” sales manager Janise Turner said in a November news release.

The first phase of the Del Webb community, restricted to owners who are 55 and older, consists of 141 of a total of 547 homes.

Also in 2016, as model homes were completed, Newland announced the first commercial tenants for the Marina Village of RiverLights, including Smoke on the Water, a new eatery concept from a local restaurant owner, and an office for TowneBank Mortgage.


Barclay Development

The 14-screen movie theater anchor and restaurant buildings at The Pointe at Barclay, and adjacent apartments, began to rise this year on South 17th Street and Independence Boulevard in midtown Wilmington.

It’s all part of the Barclay development, a 600-acre master planned community under development by Cameron Properties Land Co. For The Pointe at Barclay, the community’s commercial component, Cameron Management has partnered with Charlotte- based development firm Collett.

The Stone Theatres movie theater and the restaurant buildings could be complete in early 2017.

Real estate development company Childress Klein recently started construction on the 258-unit first phase of Element Barclay.

The first apartments at Element Barclay are expected to be available for occupancy in the summer of 2017.

“Element Barclay will offer residents modern apartments surrounded by restaurants, retail and recreation,” said Kelly Dunbar, a partner with Childress Klein. “This is a rare opportunity to be part of a truly walkable community in midtown Wilmington, and we look forward to setting the bar for luxury living in the Port City.”
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