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Real Estate - Commercial

Soda Pop District Brims With Potential

By Emma Dill, posted About 1 hour ago
Ashley Johnson (from left) and Ally Favory opened Perennial Harbor on Princess Street last year, an area that's part of Wilmington's growing Soda Pop District (Photo by Drewe & Kate Branding Co.)
At Perennial Harbor, an outdoor event space on Princess Street, people often stop by to check out the “secret” garden, said co-owner Ashley Johnson.

“We would have the gates open, and people would come in off the street,” said Johnson, who owns the business with friend Ally Favory. “Having green space and being able to connect with nature is something that we like to share with people.”

Johnson and Favory launched Perennial Harbor last year in the backyard of a former laundromat at 1107 Princess St. that, at the time, housed a floral studio for Favory’s business Blossom Bay Design.

When the floral studio moved this spring into a building next door, Johnson and Favory decided to grow Perennial Harbor by creating an indoor event space in the vacant building. Renovations are underway on the venue, which will have large windows overlooking the garden and lots of plants, Johnson said.

“The intention is to make it a reflection of the outdoor garden inside,” she said.

The expanding footprints of Perennial Harbor and Blossom Bay are among the latest examples of growth in the Soda Pop District, which stretches several blocks along Princess Street. With new investment slated for the area, some of the district’s current business owners say that they see the potential for future growth.

In May, Charlotte-based real estate investment firm Cuadra Capital purchased four properties in the district for nearly $16 million, including district anchors, the Bottle Works building at 921 Princess St. and 1020 Princess St., which houses Hi-Wire Brewing.

Brian Purcell, Cuadra Capital’s founder and managing partner, said the group’s “go-forward activity” in the district is focused on 920 Princess St. They’re planning to invest in infrastructure upgrades to the vacant commercial space at the corner of North 10th and Princess streets with hopes of attracting a new user.

“We’re speaking with a couple of targeted restaurateurs that we really want in that building,” Purcell said, “and we’re going to invest pretty meaningful capital in the building to make it attractive to the right restaurateur.”

Eventually, Purcell said, he envisions adding more retail storefronts at the 920 Princess St. property, mirroring the existing commercial spaces across the street at the Bottle Works building. Cuadra Capital is also working on plans to add more parking to the district.

Nigel Wilson purchased Ibis Coffee + Cocktails with business partners last fall because he loved the unique concept of a business serving coffee by day and cocktails by night.

Tyler Coffey, another Ibis owner, said he was drawn to the atmosphere of Ibis. It introduced him to the Soda Pop District, he said, and he likes that the area still has accessible parking, unlike some other areas downtown.

A few blocks east, Dylan Pierce opened Retroscape, a gaming lounge, at 1123 Princess St. five years ago.

Pierce said he sees a need for more marketing of the Soda Pop District to bring in residents who don’t live nearby and tourists visiting Wilmington. He also sees potential for more growth.

“There’s so much opportunity over here,” he said. “There’s empty lots; there’s buildings. It’s one of the few untapped areas of town.”

Johnson, the owner of Perennial Harbor, said she likes that much of the district’s growth has come in the form of repurposed buildings.

“It’s been cool for people to come in and repurpose them in innovative ways,” she said, “rather than it being a brand new building being built or something being torn down.”

Artist Sydney Falkner runs the studio By SYD in the Bottle Works building. She said she’s fully embraced what she calls the creative energy of Princess Street.

“I think this neighborhood has so much potential,” she said. “That’s what I fell in love with."

In The Zone is a monthly feature focusing on specific areas throughout the region.
Coming up next are Burgaw (October) and Riverlights (November).
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