Real Estate - Residential

In Latest Phases, 400 More Home Lots Coming To Riverlights

By Cece Nunn, posted Aug 2, 2022
An aerial view of Riverlights from the first phase of the masterplanned community (bottom) looking south where new sections are under development for single-family homes and townhomes. (Photo courtesy of Riverlights)
Riverlights officials are working toward creating a little over 400 new home lots for the 1,400-acre master-planned development’s next phases.

Developers recently submitted site plans to the city of Wilmington for phases 7 and 8 of Riverlights, a project off River Road owned by a subsidiary of North America Sekisui House LLC and managed by Brookfield Properties. 

The phases are expected to be built on unused land in the far southwest portions of Riverlights, directly across River Road from where a 37-acre Riverlights commercial village, 7Bridge, is being planned.

Phases 7 and 8 will contain diverse single-family home options, including a range of prices and sizes, said Nick Cassala, vice president of operations for Riverlights. He said they intend to break ground on Phase 8 by the end of the year.

While talk of a potential cooling in the housing market has increased in recent weeks, Riverlights officials don’t intend to pull back from continuing to create lots in the popular neighborhood, Cassala said, as they remain “cautiously optimistic.” 

To date, buyers had purchased 830 homes in Riverlights and the community has more than 2,000 residents, not including the occupants of Oasis at Riverlights, an apartment complex with 250 units, officials said.

“We think that the market demand side is still significant. We think that our community is well-positioned and now is well-established to continue to be in demand,” Cassala said. “Wilmington is going to continue to attract more and more buyers, whether they be from inside the state or outside of the state, just like we've seen the last two to five years.”

That anticipated Phase 8 start timeline – by the end of this year – “gives you an indication that we're still very bullish about Wilmington and our position in this marketplace,” he said.

Currently, phases 5 and 6, which will hold 360 homesites, are underway.

“We have delivered the first two sub-phases within phases 5 and 6 and the first 95 lots are complete,” Cassala said. “We're probably less than 60 days away from the first home starts in that neighborhood.”

Plans for phases 7 and 8 will be subject to a technical review by the city, but as of Tuesday afternoon, that review had not been scheduled, according to the city's project tracking website.
Ico insights


Brookeskipper saltair headshot2

Improving Indoor Air Quality Requires a Systematic Approach

Brooke Skipper - Salt Air
Dave sweyer 300 x 300

12 Important Questions to Ask When Interviewing a New Property Manager

Dave Sweyer - Sweyer Property Management
Drewsmith copiersplus headshot

A Little More Communication, A Lot More Cohesion

Drew Smith - Copiers Plus

Trending News

Local Government Commission Does Not Approve Project GraceĀ 

Johanna F. Still - Sep 22, 2022

State Legislature Candidates Share Views With Business Leaders

Cece Nunn - Sep 22, 2022

Application Denied: After LGC Setback, County Will Still Pursue Civic Project

Johanna F. Still - Sep 23, 2022

County Commission Candidates Participate In Power Breakfast Forum

Johanna F. Still - Sep 22, 2022

Work On Wilmington Seeks Nonprofit Projects To Complete

Staff Reports - Sep 23, 2022

In The Current Issue

MADE Winners: Food & Beverage Category

The Food & Beverage Category winners are Acme Smoked Fish of North Carolina, Kind Cultures and N. SEA. Oyster Co....

Housing Demand Still High, Pricing Tricky

It's not the end of the world, says one top-producing Realtor....

Bridging The Digital Divide

Recognizing that tech skills translate to high-paying jobs in a growing tech career field, the city, along with community partners, will lau...

Book On Business

The 2022 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!



Trying to Grow a Business?
2020 Health Care Heroes
2020 WilmingtonBiz 100