Real Estate - Residential

426 Apartments Planned On 43 Acres In Wilmington

By Cece Nunn, posted Jul 7, 2021

A firm with communities throughout the Carolinas and beyond recently paid nearly $9 million for 43 acres zoned for apartments in Wilmington.

North Carolina-based Woodfield Investments bought the land, off an unfinished road called Hunters Trail behind Target, from 5016 Hunters Trail LLC, according to a deed recorded June 30. 

Woodfield’s plan is to build 426 apartments, said Scott Underwood, a partner in the firm, which also developed what is now Hawthorne at Indy West on Independence Boulevard in Wilmington. 

For the Hunters Trail land, the one-, two- and three-bedroom units would be in roughly 17 buildings, Underwood said. The project is currently called Azalea Landing in site plans but that moniker is subject to change.

Woodfield was drawn to its latest purchase in part because of nearby shopping, services and employers.

“It really checks all the boxes for a lot of renters that want to be in close proximity to things they want or need to do on a day-to-day basis,” Underwood said.

Woodfield was preparing to submit site plans for the apartments to the city this week to be scheduled for a technical review. Underwood said he hopes construction can start in the near future.

“Our goal is that we’re going to meet the needs of the city and be in a place to start by the fall,” Underwood said.

The Wilmington area has the potential to attract additional investments by Woodfield, he said.

“We always keep our eyes and ears open. We love the market,” Underwood said. “It’s had great growth for quite a while and so we try to be very deliberate in choosing our locations.”

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