Print
Real Estate - Commercial

Developer Of The Avenue Won't Seek Development Agreement

By Cece Nunn, posted Apr 23, 2018
The developer of a proposed $200 million project on Military Cutoff Road called The Avenue will proceed with pursuing a conditional rezoning and special use permit rather than also working on a development agreement with the city of Wilmington, officials said. 

Under development by Greensboro-based The Caroll Companies, The Avenue is planned to be anchored by a Westin hotel called Westin on The Avenue and to feature an upscale spa and conference center. The project will also include apartments, class-A office space, restaurants and retailers.

The Wilmington City Council voted April 3 to amend the city's Land Development Code to allow buildings on property associated with a development agreement to reach 75 feet high in lieu of a special use permit.

Rather than an agreement, however, officials with The Carroll Companies decided to seek only a special use permit to be allowed the 75-foot heights needed for The Westin and an apartment building that will have retailers on the first floor.

"The first time we submitted our project last summer, there was confusion on the intensity of the project and traffic impacts. We thought a development agreement would make it clear the project intensity was substantially reduced along with outlining, in a written and enforceable agreement, that the current traffic patterns will actually improve with the development of our project due to the extent and timing of road improvements we will make," according to a statement from Livian Jones, a consultant for The Carroll Companies. "Given the perception the development agreement process is not transparent, we decided to move to a rezoning with conditions to alleviate any such concerns. We look forward to the opportunity to bring this unique and landmark project to the City of Wilmington."

The Avenue is planned on a 44-acre site that would need a rezoning beause it currently serves as a mobile home park. The project requests are expected to be considered by the Wilmington Planning Commission in May.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Webilm julieformal kellystarbuckcom mg 5471

Nonstop Flights Drive Real Estate Investment While Keeping Family and Friends Connected

Julie Wilsey - Wilmington International Airport
Rob20beale2 311791810

Linking Parenting & Leadership from One Generation to the Next

Rob Beale - W.M. Jordan Company
Lgoriginalheadshot 311794626

When New Year’s Resolutions Slip to Spring

Laura Bransfield - Summerfield Custom Wellness

Trending News

New Firm Chooses Dutch Square Industrial Park Space For Headquarters

Cece Nunn - May 23, 2018

Live Oak Bank Launches Franchise Restaurant Lending Vertical

Jenny Callison - May 23, 2018

COO Of Wilmington Realtors' Group Hired As CEO Of San Antonio Association

Cece Nunn - May 23, 2018

Marina Grill Launches Riverfront Music Series

Jessica Maurer - May 23, 2018

Cape Fear Serpentarium, Now Closed, Part Of Petition For Private Sale

Cece Nunn - May 22, 2018

In The Current Issue

Addressing The Area’s Food Deserts

“If we can find a model that works, we would like to replicate what we can in other parts of Wilmington or the region,” said Scott Whisnant,...


Aquesta Bank Earnings Sharply On The Rise

“Our asset quality is good. What we have is a lot of growth,” said Jim Engel, Aquesta’s CEO and president, noting that the bank has seen “tr...


Student Loan Debt Still A Concern

It might come as a surprise, but one of the hottest topics at an annual convention of bankruptcy attorneys was student loan debt. There are...

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!


Galleries

Videos

2018 Power Breakfast: The Main Event
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties
2017 Health Care Heroes