Real Estate - Commercial

Developers Plan Two Buildings With Space For Office, Retail

By Cece Nunn, posted Feb 27, 2018
A rendering by Cothran Harris Architecture shows what the two buildings will look like that are planned in the Fairfield Mixed-Use project off Carolina Beach Road. (Courtesy of Cothran Harris Architecture)
Developers are planning to add two buildings with space for office and retail users off Carolina Beach Road in Wilmington.

The project would be built on undeveloped land at 4625 Fairview Drive in front of Meridian at Fairfield Park, a 241-unit apartment community completed in 2016 near Codington Elementary School.

The undeveloped property belongs to Neal Hunt of Raleigh, a retired apartment developer and former state senator, who is also a joint venture partner in Meridian at Fairfield Park, having contributed the land for the apartments while keeping the commercial outparcel to be developed as a separate project, said Richard Cotton, managing director of Multifamily Realty Advisors. Cotton is a partner with Hunt in the commercial project dubbed "Fairfield Mixed-Use" on site plans submitted to the city of Wilmington.

"As a commercial broker specializing in apartment sales and development, over the past 12 years I have represented Neal on many occasions including the sale of 7 apartment projects that he had developed," Cotton said in an email. "With respect to the Fairfield Mixed-Use project, however, I will be stepping away from my role as broker and Neal and I will be partners in the development of this project. Newly formed Fairfield Mixed-Use, LLC will be the development entity. Our development team includes Cothran Harris Architecture, Cline Design, and BNK Consulting Engineers. As for leasing and management of the buildings, we plan to engage a local commercial firm, yet to be determined."

He said the project will consist of two, 2-story buildings, each with 20,000 square feet for a total of 40,000 square feet.

"The first floor is designed to accommodate retail and/or professional offices and the second floor will be exclusively office space. We are hoping to have as much retail as possible on the first floor, especially retail shops and restaurants that will be an added amenity for the residents of the apartment community. Because of the shared parking with the residents of Meridian at Fairfield Park, however, we are limiting the total retail space to the first floor of each building, or 20,000 square feet," Cotton said.
He said no start date for the project has been determined and the development team has not selected a general contractor yet.

"We will likely wait until the first building has been at least partially pre-leased before the start of construction," Cotton said.

Site plans for the Fairfield Mixed-Use project are on the agenda for review for the March 8 meeting of the city's Technical Review Committee.

Story On The Map

Ico insights


Lgoriginalheadshot 311794626

National Nutrition Month: ‘Go Further with Food’

Laura Bransfield - Summerfield Custom Wellness
Dallas headshot 300x300

Estate Planning: A Small Slice of a Bigger Pie

Dallas Romanowski - Cornerstone Business Advisors
Webilm julieformal kellystarbuckcom mg 5471

3 Ways Nonstop Air Service Grows Business

Julie Wilsey - Wilmington International Airport

Trending News

A First Look At Independence Mall's Upcoming Transformation

Cece Nunn - Mar 19, 2018

In The Current Issue

Some Buyers, Sellers Await School Maps

Uncertainty about school districts could affect whether parents buy or sell their homes at all at a given time....

Info Junkie: David Reeser

Info Junkie David Reeser, CEO of IT Works, on his app and media picks....

MADE Winners - Functional Product Category

Flow Sciences LLC, Maverick American Spearfishing and Surgilum made the list of MADE Winners in the Functional Product Category....

Book On Business

The 2018 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



WilmingtonBiz Expo - Keynote Lunch with John Gizdic, CEO, New Hanover Regional Medical Center
Wilmington's Most Intriguing People of 2017
2017 Health Care Heroes