High-end apartment projects expected to reshape the northern section of downtown Wilmington are slated to be delivered the next two years, developers and builders say.

During the first week of September, workers began the foundation and first-floor concrete construction for Sawmill Point, a 280-unit apartment complex that will include a swimming pool and access to a new marina. The first tenants are expected to be able to move in by early fall of 2016, said Ken Dull, president and owner of McKinley Building Corp. Dull’s company is in charge of the $36 million construction of Sawmill Point, which is expected to have an overall cost of $45 million.

“Two years from now, you’re not even going to recognize downtown,” Dull said recently, referring to apartment projects and more expected development in the works.

The rents at Sawmill Point are expected to fall within the fair market rate.

Among other amenities that go along with the project is a parking deck that the apartments wrap around so that, in Dull’s opinion, observers won’t even know the deck is there.

Those who live on the southern side of Sawmill Park will overlook a new northern riverfront park the city is planning on nearly seven acres. Residents can walk to other downtown features, including the existing Riverfront Park, where an improvement project is expected to begin Sept. 21. The yearlong effort involves bulkhead repair, disability access and extensive streetscape improvements at the park and the foot of Market Street, according to the city.

Pier 33 PROJECT

Expected to include 300 residential units, another northern riverfront apartment project is planned to include a mix of studio, one-, two- and three-bedroom units and roughly 32,000 square feet of ground-floor retail space.

DeWitt Carolinas, the development company for and owner of the Pier 33 site, anticipates a start on construction for the project in the first quarter of next year, with the first units being delivered in 12 months, an email from the company said. The firm released new renderings of the project earlier this month.

In response to a question about what rental rates will be like, the email said, “We will be delivering an upscale mixed-use project for downtown Wilmington with competitive rates to justify the luxury waterfront lifestyle.”

The finished product is expected to draw a varied mix of renters, according to DeWitt Carolinas.

“With Pier 33 being located in the center of an evolving parcel of downtown Wilmington, the development will attract a diverse market of renters. Pier 33 will provide a luxury waterfront lifestyle that will accommodate renters who seek a central location with walkability to emerging restaurants, retail and waterfront boating,” the email update said.        

Additional amenities include a raised saltwater swimming pool, conference room, dog washing station and yoga room, along with a parking garage with ample parking spaces for residential and retail use, according to the update from DeWitt Carolinas.
 

Water Street parking deck redevelopment

The City Council is expected to make a decision before the end of the year, city spokesman Dylan Lee said recently, regarding a development agreement with East West Partners that would pave the way for new apartments,  condominiums and retail space that would replace the aging Water Street parking deck downtown.

In a 6-0 vote in May (councilman Kevin O’Grady was out of town), the council agreed to enter into a memorandum of understanding (MOU) with East West Partners. Deputy city manager Tony Caudle explained to councilmembers at the meeting that the MOU is a framework for design principles to be used in association with the development agreement. He added that design specifics and cost sharing would be included in the agreement at the end of a six-month period outlined in the MOU.

The new city-owned parking deck that would come with the new apartments will contain 505 total spaces, 280 of which will be for public use, according to the memorandum. East West commits to leasing or purchasing the remaining 225 spaces from the city, the MOU says.