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Real Estate - Residential

In Riverlights, Firm Buys Land For 250 Apartments

By Cece Nunn, posted Dec 12, 2019
A rendering shows Mosby at Riverlights, a new apartment community coming to Wilmington. (Courtesy of Middleburg Communities)

A Virginia firm recently bought property in Riverlights to build a 250-unit apartment complex.

Middleburg Communities, a Vienna, Virginia-based real estate investment, development, construction and management firm, bought the site for Mosby at Riverlights, a planned Class A apartment community at 4027 Watercraft Ferry Ave., according to a news release.

The site is steps from the Cape Fear riverfront in the Newland master planned Riverlghts development on River Road in Wilmington.

"Mosby at Riverlights will connect its residents directly to the riverfront and Riverlights’ amenity-rich Marina Village, park and marina via pathways and boardwalks, while offering top-of-the-market design and amenities in four buildings," the release stated.

A deed recorded this week shows a $4 million transaction between Newland and Mosby Riverlights LLC for two parcels and part of a third. Construction on Mosby at Riverlights is planned to start the week of Dec. 16, with leasing beginning in late 2020.

“Mosby at Riverlights has been carefully planned to take full advantage of the exceptional natural setting and outdoor amenity base afforded by our premier location within the Riverlights community,” said Middleburg Communities Vice President of Development Alexi Papapieris, in the release. “We are very excited to work with Newland on the addition of this important piece of the RiverLights plan and know our future residents will value the unparalleled quality and lifestyle of living within a 1,400-acre master planned waterfront community.”

Once completed, Mosby at Riverlights will be self-managed by Middleburg Communities. Mosby at Riverlights amenities will include a 7,500-square-foot, two-level clubhouse, resort style pool, dog park and pet spa, grilling stations and fire pits, walking trails connecting to Marina Village, a fitness center and more.

Apartment features are expected to include stainless steel Energy Star appliances, granite countertops, luxury vinyl plank flooring, Nest thermostats, 9-foot ceilings and others.

The release stated that Mosby at Riverlights will feature Middleburg Communities’ signature program, Local Heroes, "which respects and honors firefighters, police officers, emergency medical technicians and public school teachers by providing them with a rent discount at all company owned and developed communities. Middleburg launched Local Heroes as an expression of its strong belief that those who serve our communities should be able to live in our communities."

The architect of record, interior designer and landscape architect for Mosby at Riverlights is Cline Design Associates. Middleburg Construction is serving as general contractor and McKim & Creed is providing civil engineering services.

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