Print
Real Estate - Commercial

In Historic Downtown Buildings, New Commercial Space Taking Shape

By Cece Nunn, posted Mar 17, 2017
Historic buildings under renovation at 226 and 222 Princess St. could one day hold new office tenants or restaurants. (Photo by Cece Nunn)
James Goodnight's renovation projects at four historic buildings in downtown Wilmington are expected to bring more office space, and potentially restaurants, to Princess and Front streets.

Goodnight bought and renovated 21 S. Front St. to create the headquarters for Wilmington-based startup Next Glass in 2014 and 2015. He met this week in the Port City with historic preservation officials to discuss the possibilities for preservation tax credits that would offset the costs of rehabilitating smaller buildings he owns at 222 and 226 Princess St.

222 Princess St. was built around 1905, and 226 Princess St., a couple decades later, Goodnight said. City Electric Co. occupied 226 Princess St. in the 1930s, and in more recent times, the space housed a law office.

Goodnight said he hopes to connect the two buildings, which share a wall, with some kind of passageway that could potentially make the combined space attractive to a single user.

Goodnight said their size, about 1,300 square feet each above ground, was one of the reasons he bought the Princess Street buildings.

"It's a cool, unique project on the smaller side, which doesn't give you too much heartburn," Goodnight said. "When you get much above 10,000 square feet, it's hard to keep track of the moving parts."

As crews make progress with his Wilmington buildings, the Raleigh-based Goodnight, son of SAS founder Jim Goodnight, is also currently working on a 48,000-square-foot project in south Raleigh. 

Goodnight hopes to be finished with his latest Wilmington projects by next year, including office space on the second floors of 1 and 9 S. Front St. and on the third floor of 1 S. Front St. Some inside work began after the previous occupant of the second and third floors of 1 S. Front St., a bar, moved out in November.

"It's a great old building; it just wasn't thoughtfully maintained, and it's such prime real estate in downtown Wilmington," Goodnight said of 1 S. Front. 

Both 1 and 9 S. Front St. were built around 1900 and designed by famed Wilmington architect Henry Bonitz.  

The general contractor on Goodnight's projects is Wilmington-based Old School Rebuilders. On the second floor of 1 and 9 S. Front, crews were able to reconnect the two buildings for the first time in decades by uncovering a bricked up archway. That could lead to one office tenant using the 6,000 square feet of connected space, Goodnight said.

Another 3,000 square feet will be available for an office user on the third floor of 1 S. Front while the third floor of 9 S. Front will likely remain an apartment, Goodnight said. Brian Wallace of Raleigh-based York Properties Inc. is the listing agent for Goodnight's new commercial space in Wilmington.

The addition of offices in historic buildings downtown is a good thing for the city, officials say, because it boosts efforts to attract startups and other companies that want unique spaces in an urban setting.

"We continue to see some incremental growth in terms of our office space inventory," said Ed Wolverton, president and CEO of Wilmington Downtown Inc. "Of course, we took a big leap last year with the opening of the 101 N. Third office building (aka the BB&T building) so that’s all brand new office. This addition of James’s space will add more to that office inventory."

On Thursday, WDI held a Downtown Economic Series luncheon, celebrating downtown's growth and hailing the announcement that downtown's newly formed Municipal Services District will be the first such district in the U.S. to be certified as AT&T Fiber Ready. 
Ico insights

INSIGHTS

SPONSORS' CONTENT
Pfinder john zachary

Back to the Basics: Required Minimum Distributions

John B Zachary - Pathfinder Wealth Consulting
Jordain 422430214

How to Solve Impossible Problems

Jordan Cain - APPROVE
Cfss headshots parker robert webversion 21422121214

The Latest Solar Scams and What You Can Do to Help Stop Them

Robert Parker - Cape Fear Solar Systems

Trending News

Wilmington Plans To Demolish Longtime Downtown Offices

Emma Dill - May 15, 2024

Olivero's New Menu To Highlight Seasonal Flavors

Katie Schmidt - May 15, 2024

Sale Of The Second Glass To Make Way For New Concept In South Front District

Jessica Maurer - May 14, 2024

Proposed Pod Community Delayed By Building Code Concerns

Emma Dill - May 13, 2024

Truist’s Charlie Mattox Moves To Atlantic Union Bank

Audrey Elsberry - May 13, 2024

In The Current Issue

Restaurants Serve More Outdoor Space

Outdoor dining spaces add another dimension to dining in the Port City and, in some cases, take a restaurant’s brand to new heights. ...



Info Junkie: Adam Isley

Adam Isley, founder of a spatial medtech applications and experiences company Artemis Immersive, shares his top tech and info picks....

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season