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Real Estate - Residential

Cambridge Village's 2nd Phase Slated To Be Done By Spring 2017

By Cece Nunn, posted May 11, 2016
Cambridge Village, a retirement community off Eastwood Road (shown Wednesday), is expected to celebrate the completion of new apartment units by spring 2017. (Photo by Cece Nunn)
Construction has begun on new apartments in a retirement community that opened last year off Eastwood Road, with completion of the latest units expected by next spring.

Phase 2 of Cambridge Village, 75 Cavalier Drive in Wilmington, will consist of 120 units, with one-bedroom, 1.5-bathroom and two-bedroom, two-bathroom floor plans, said Beverly Booth, marketing director of Cambridge Village, in a news release this week.

“We have already received deposits from retirees anticipating the spring opening and desiring to select the location and floor plan of their choice," Booth said in the release.

Cambridge Village opened its first phase of 110 independent living apartments, in March 2015, and that phase is nearly full, according to the release.

The resort-style community is restricted to residents who are 55 years old and older.

Like Cambridge Village's current units, the Phase 2 apartments will include 9-foot ceilings, covered balconies, granite countertops, and washers and dryers. Other features of interest, the release said, will include courtyard and water views, an expanded pub, an outdoor recreational area, and a dedicated special event venue. 

Communities like Cambridge Village, and other developments marketing homes and apartments to older buyers, are banking on continued growth in the number of baby boomers moving to the south.  The N.C. Office of State Budget and Management estimates that North Carolina’s population of residents who are 65 and older will grow by 66 percent in the next 20 years, the release said.

“The expansion [at Cambridge Village] will certainly help meet the demands of the growing number of retirees who choose to make Wilmington their home,” Booth said.

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