Print
Real Estate - Commercial

After Clearing Site, The Avenue Developers Outline Next Steps

By Emma Dill, posted Oct 21, 2024
Developers recently cleared land slated for The Avenue, a proposed mixed-use luxury development off Military Cutoff Road. (Photo by Cece Nunn)
The developers of The Avenue, a luxury mixed-use development proposed near Mayfaire, recently cleared the site eyed for the long-awaited project.

Plans for the development include building a five-star Westin hotel and spa along with hundreds of apartments and retail space for upscale brands and restaurants on 11 acres at 349 Military Cutoff Road. The more than $300 million project has been in the works for more than eight years.

Greensboro-based development firm The Carroll Companies is behind the project. Roy Carroll, the firm’s founder, president and CEO, told the Business Journal last year that the company has spent at least $20 million on the site development, land purchase and plans for The Avenue.

Plans include a 234-room Westin hotel (a rendering of the hotel's lobby is shown below) with ample meeting space, a spa island connected to the hotel, more than 500 apartments and hundreds of thousands of square feet for stores and restaurants. There have been no changes to the project’s proposed uses, wrote Madison Carroll Snyder, Carroll Companies' chief of staff, in an email.

“We are excited about our progress on clearing the site, which shows what a perfect location this will be for our Avenue project,” Carroll Snyder wrote. 

The next step in the project’s development will be addressing the area’s “subsurface conditions,” which can be typical in coastal areas. “This will be accomplished by surcharging the building pads with engineer-prescribed weight for various periods of time to allow the weight of the fill material to compact the soil,” according to Carroll Snyder.

The development team will also begin working on the property’s storm system soon.

“These stages of work will take us through the end of the year,” Carroll Snyder wrote, “and we look forward to the community gaining excitement as they drive by and see what we are accomplishing.”

Correction: This version of the story corrects that The Carroll Companies has spent at least $20 million on The Avenue's site development, land purchase and plans.
Ico insights

INSIGHTS

SPONSORS' CONTENT
Untitleddesign14 352591554

Questions You Should Be Asking Your Bank(er)

David Rizzo - First Carolina Bank
Burrus rob headshot 300x300

Real Estate Markets Yesterday and Today

Robert Burrus - Cameron School of Business - UNC-Wilmington
Untitleddesign12 101424112736

So You’re Feeling Like a Fraud... Let’s Talk

McAuley Hollis - APPROVE

Trending News

Local Amazon Facility To Create More Than 1,000 Jobs, Be Largest In NC

Emma Dill - Mar 12, 2025

Avelo Adds Four New Nonstop ILM Flights, Including Houston And Detroit

Emma Dill - Mar 11, 2025

Third Generation Joins Brady

Staff Reports - Mar 11, 2025

The Amazon Factor: With Facilities In The Works Here, A Look At Impacts On Other NC Cities

Emma Dill - Mar 12, 2025

Boutique Hotel's New Owners To Mark Oceanfront Inn's New Name, Face

Cece Nunn - Mar 11, 2025

In The Current Issue

Small Business Spotlight: Antiques Enthusiast Showcases Treasures

"Our world is full of a lot of the same kind of stuff right now. Vintage and antique goods have character, thought, painstakingly deliberate...


Could Social District Be Here To Stay?

With the results of the test run in hand, organizers now want to ask city officials to make the district designation permanent....


Groups Navigate Federal Funding Changes

Executive actions and memos issued by President Donald Trump’s administration have created uncertainty for many local groups, forcing them t...

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