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Real Estate - Residential

Developers: River Place Reaches Milestone

By Cece Nunn, posted May 14, 2019
Construction is progressing on River Place (shown above in a rendering), with the structural framing of the development's south tower complete. (Rendering courtesy of River Place)
Officials with East West Partners, developers of downtown Wilmington’s River Place, said Tuesday that the structural framing of the mixed-use project’s south tower is complete. 

"At 13 stories, the south tower includes one level of parking, the restaurant pavilion, retail space and 58 of the 92 total condominiums in the project, representing some 150,000 square feet of the project’s overall 488,000 square feet," the release stated.

Chapel Hill-based East West is creating River Place, formerly home to the defunct Water Street parking deck at 200 N. Water St., in partnership with the city of Wilmington in a project projected to cost more than $80 million.

The project's next steps include framing the exterior and interior of each floor; installation of plumbing, mechanical and electrical systems; exterior sheathing for waterproofing and insulation barriers; exterior brick cladding; and window installation, the release stated.
 
The first dwellings in the south tower are expected to be ready for occupancy by early in the first quarter of 2020, with the remaining 34 condominiums surrounding the parking deck completed shortly thereafter, according to the release.

The parking deck is on track for a late 2019 completion, officials said. 

“With 100 inches of rain and the impact of Hurricane Florence, we are delighted to have reached this stage with our schedule still intact,” stated Lucien Ellison, managing partner of East West Partners, in the release. 
 
According to the release, vertical construction for River Place began in November 2018 and progressed at an average of one story every two weeks with structural steel and concrete framing.

“There are a number of subcontractors on site working concurrently to either meet or exceed our construction schedule," Ellison said in the release.

In February, brokers annouced that Mellow Mushroom pizza restaurant has joined the commercial tenant roster for River Place.
 
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