On the site of a former driving range on Oleander Drive in Wilmington, developers expect to break ground this year on 345 apartments.
The Range on Oleander, which will include about 14,000 square feet of commercial space in addition to the residential units and amenities, could be on the rise by September, said McKay Siegel of development firm East West Partners, who leads Wilmington area projects for the company.
Siegel said he anticipates the project taking about 20 months to complete the first of seven buildings, with a completion estimate of 2024.
Within the development, 10% of the units will be offered at workforce housing rental rates, a feature that gave East West the ability to create
a higher-density community within the site's zoning classification.
The property, about 15 acres at 5026 Oleander Drive and bordered by Wilmington Municipal Golf Course, was rezoned early this year.
The East West Partners rezoning application stated, "Whether or not they have to drive 5 miles or 25 miles to their destination will in no small part determine the future built environment of our city. To that end, 5026 Oleander Drive is a site that is centrally located within the city at a time when we need to be mindful of how and where to house more people."
Siegel said Thursday, "As Wilmington sites go, it’s one of the better apartment locations."
He said the development team is starting to market the commercial space, which he expects to hold a restaurant, and the space is being marketed by Patrick Riley of Wilmington-based commercial real estate firm Cape Fear Commercial.
The project is under technical review with the city of Wilmington, and developers are pursuing permits at the same time, Siegel said.