A development company plans to build a new 228-unit apartment community on Carolina Beach Road, according to site plans submitted to the City of Wilmington.
Belle Meade Apartments would consist of seven three-story buildings with 84 one-bedroom apartments and 144 two-bedroom apartments on nearly 11 acres of land across Carolina Beach Road from Silva Terra Drive, according to plans submitted by GSP Consulting, an engineering firm, and Belle Meade Development Partners LLC.
The plans also show that one of the buildings fronting Carolina Beach Road would include 3,800 square feet of commercial space.
The city of Wilmington’s project tracking website indicates that the proposed apartments, with a listed address of 4703 Carolina Beach Road, would not be considered by the Technical Review Committee until next year. SHP Bellemeade LLC bought 6.9 acres at 4703 Carolina Beach Road for $1.5 million in November 2012, according to the latest sales figure listed online in New Hanover County property tax records.
As well as serving as another sign of a
booming apartment market in Wilmington, the Belle Meade Apartments proposal adds another potential project to a corridor where at least two other multi-family developments are in the works in different areas, including the Meridian at Fairfield Park and Independence West.
For the Independence West community, Symphony Properties of Cary wants to build 256 apartments on about 15 acres in the 3800 and 3900 blocks of Independence Boulevard near Echo Farms.That project's timeline is uncertain at the moment, Blair Booth, manager of Symphony Properties, said Tuesday, because the development company is working out sewer capcity issues with Cape Fear Public Utility Authority.
Booth’s company is also developing Sawmill Point, a four-story, 278-unit apartment project at 15 Cowan St. in downtown Wilmington.
Meanwhile, NorthView Partners, a Raleigh-based firm, was expected to close on a construction loan Tuesday for the 241-unit Meridian at Fairfield Park apartment project along Carolina Beach Road near Codington Elementary School.