Real Estate - Commercial

Developers Highlight Project Grace At Downtown Event

By Cece Nunn, posted Nov 17, 2021
Chris Boney, Chief Relationships Officer for architecture firm LS3P, discusses Project Grace during a Wilmington Downtown Inc. event Wednesday. (Photo by Cece Nunn)
The developers of a major downtown Wilmington project said Wednesday they hope to be able to announce some of its commercial uses soon and that the plan still has some moving parts.

Project Grace aims to transform a 3-acre block bordered by Grace, Third, Chestnut and Second streets into a mixed-use project with public and private facilities.

Wilmington-based Zimmer Development Co. is partnering with the block’s owner, New Hanover County, and has been presenting more details about the public portions of the project in recent weeks. 

On Wednesday, Zimmer’s Development Director Adam Tucker and Chris Boney, Chief Relationships Officer at Project Grace’s architecture firm, LS3P, spoke to about 350 business and government leaders. The event, hosted by Wilmington Downtown Inc., was held at Cape Fear Community College’s Union Station.

Tucker told the audience that his company believes Project Grace “is gonna stand the test of time for generations to come.”

He said work on the commercial components of the mixed-use project is ongoing. 

“We've almost got too much interest and too many users to try to fit everybody that wants to be here on the site,” Tucker said. “We've got more public pieces we’re talking to, we’ve got hospitality we’re talking to, we've got retail that we're going to do and we also have that multifamily component with the workforce housing that we've committed to doing.”

Asked by an audience member about the workforce housing portion of the proejct, Tucker said it’s possible that more than 5% of the units, as described in the county’s memorandum of understanding with Zimmer, could be dedicated to workforce housing.

But the initial phases of the project involve building a new main branch of the New Hanover County Public Library (the existing main branch in the Project Grace block will eventually be demolished) and a new Cape Fear Museum.

“We’re going to build something that’s truly transformational for New Hanover County and the city of Wilmington,” Boney said

The library, museum and shared space has been estimated to cost about $56.7 million. The MOU, which is subject to change, places a private apartment component's estimate at more than $23 million.

Construction on the public facilities could begin by summer 2022.
Ico insights



Vacation Time Is An Important Employee Benefit

Dane Scalise - GriffinEstep Benefit Group
Chris coudriet

Combating COVID, Helping Our Community Take Center Stage In 2021

Chris Coudriet - New Hanover County Government
Mel profilephoto

Influencer Marketing: Tap Into Your Audience On A Budget

Mel Beasley - Wide Open Tech

Trending News

If City Seeks New Proposals, Company Has Castle Street Redevelopment Plans

Cece Nunn - Jan 14, 2022

MegaCorp Continues To Expand Office Footprint, Workforce

Johanna F. Still - Jan 14, 2022

In The Current Issue

A Closer Look At The Year Ahead

This year, important facets of the Wilmington business scene are set to face significant changes....

Health Board To Discuss Face Coverings Again

Citing an increase in COVID-19 cases in late December before the holidays, New Hanover County’s health board said it would again discuss ind...

Apartment Sales Dominated 2021

Investors buying up Wilmington apartment communities drove the top real estate transactions of 2021 in New Hanover County....

Book On Business

The 2021 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100