Print
Real Estate - Residential

County Releases More Project Grace Details

By Johanna Cano, posted Feb 7, 2019
According to the Project Grace development proposal, the project would include 84,000 square feet of library, museum and shared space as well as 250 residential units. (Screenshot courtesy of New Hanover County)
More details were released Thursday on the Project Grace development proposal from Zimmer Development Co., with New Hanover County preparing to host meetings later this month to share project information with the public.

The mixed-use development would include space for the main branch of the New Hanover County Public Library and Cape Fear Museum with shared space, multifamily residential units and retail and commercial office space, according to the preliminary development proposal.
 
Proposed Use Estimated Gross Square Feet
Library and shared space 42,000
Museum and shared space 42,000
Multifamily residential units 240,000
Retail 23,700
Commercial office space 74,000
 
Under the proposal, the project would have 8,000 square feet of food and beverage retail spaces and 250 residential units with residential green space.

If approved, the proposal calls for construction of the multifamily residential units in two phases. Phase one would include 125 units along Grace and Second streets, and phase two would include the remaining 125 units along Chestnut and Third streets.

The development also includes a 5,000-square-foot covered terrace and a 12,000-square-foot outdoor terrace.

The project phasing plan estimates consist of three phases. The development of the first half of the multistory residential structures, museum and library would be included in the first phase; the second half of the residential space and retail spaces in the second phase; and office building and the rest of the ground-floor retail space in the third phase.

Under the plan, the closeout date for the third phase is estimated for April 2023.

"We are completing a financial analysis of the proposal, and then we will take all of that information – along with the public input we receive – to our Board of Commissioners this Spring to determine next steps,” New Hanover County manager Chris Coudriet said in a news release.

The project, which could cost more than $100 million dollars, is a public-private partnership with the county.

Zimmer Development Co., along with Little Architecture and Vines Architecture, submitted the development proposal, which was chosen by the county in January.

County officials will host two public meetings about the proposal. The first is 5:30-7:30 p.m. Feb. 19 at the Cape Fear Museum, 814 Market St. The second is 5:30-7:30 p.m. Feb. 21 at the main branch of the public library at 201 Chestnut St.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Headshot 1016184145

Commitments and Contingencies

Ryan Skuce - Earney & Company, LLP
Alyce 4 april242017

Women: Balancing the Challenges of Life and Investments

Alyce Phillips - Old North State Trust LLC
Headshot2

The Benefits of Creating Business Relationships with Colleges

Dani Somers - North Carolina Wesleyan

Trending News

Proposal Revamps Wrightsville Ave. Shopping Center, Adds Apartment Amenities

Cece Nunn - Mar 22, 2019

Friends School Of Wilmington To Break Ground On Building Project

Cece Nunn - Mar 22, 2019

Economic Development Event Aims To Help Local Businesses Go Global

Jenny Callison - Mar 22, 2019

Report Shows Mixed Results For Area Counties In Improving Health

Jenny Callison - Mar 22, 2019

In The Current Issue

Museum Hosts Event With STEM Partner Focus

The March 21 event will celebrate STEM partnerships in the Wilmington area and feature hands-on Science Salon experiences, a specialty cockt...


Info Junkie: Julie-Ann Scott-Pollock

Info Junkie Julie-Ann Scott-Pollock, Communication and Performance Studies professor at UNCW, on her tech and app recommendations....


Bar, Shop Help Bridge A Wine Gap

Bridgewater Wines is one of the newest additions to the Cape Fear region’s food and drink scene. Husband and wife Doug and Susan Zucker open...

Book On Business

The 2019 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

Transporting the Future - Power Breakfast 3.12.2019
Health Care Heroes 2018
2018 WilmingtonBiz Expo - Keynote Lunch with Eric Dinenberg, Rouse Properties