Wilmington City Council this week approved a mixed-use rezoning for The Porches at Masonboro Park, a luxury condo and executive center at 3380 and 3400 Masonboro Loop Road.
The project, on 1.9 acres across from Port City Java and Fire Station No. 15, would include three buildings with five residential units and 4,800 square feet of ground floor office and professional space.
The rezoning changes the site from a residential district to a mixed-used district.
It is expected to cost about $2 million -- $1.5 million for construction and $350,000 for the land, said Realtor Regina Drury, founder of Regina Drury Real Estate Group, who is developing the project.
While Drury is still looking for a local construction contractor, she said her goal is to start construction in February or March, with some buildings becoming available sooner. She estimates the first building would be available in September 2019.
Drury said one thing that makes the project unique is its executive center, which would provide office features such as conference space, office machines, mailing machines and administrative support.
Another thing that makes it unique is its casual atmosphere, she said. The idea for the location arose when she was looking for a less formal space for her real estate office, currently on Oleander Drive.
“I started my own real estate boutique two years ago and I started looking for office space for over two years and I didn’t want to be in a commercial building,” Drury said. “All the real estate offices were in commercial buildings on the third or fourth floor. I envision that there are a lot of people like me who want to be in a residential location. There are people who want to work close to home.”
Drury said an integral part of the proposed building are the porches, which will be about 50 feet by 6 feet. The goal of the porches is to provide a residential feel and additional meeting spaces.
“The big, overall picture is really going back to being less formal, and the porches is such a big deal,” she said. “We want the tenants that come and rent space for use to enjoy meeting and greeting their clients on the porch.”
Drury said she will live in the new location and plans to move her real estate office there. An architect is preparing plans for the interior, and she has been talking to banks regarding construction loans.
Drury worked on the proposal with layout help from Cindee Wolf from Design Solutions. Drury said she doesn’t plan on adding associates for the construction.
“Currently we don’t have any partners [for the project], and we are not looking for any,” she said. “We plan on being the main anchor of the executive center.”