A development firm is proposing nearly 350 new townhomes along a stretch of Market Street in Porters Neck. 

The 348-unit townhome community would span 33.5 acres at 8138 Market St., according to an initial site plan. That land will need a rezoning from New Hanover County leaders for the project to move forward in its current form.

Officials with the development firm informed neighboring property owners of their plans to seek a conditional rezoning in a letter dated Aug. 18. The project is being developed by CIP Construction, a multifamily-focused division of Greensboro-based development firm The Carroll Companies. 

The Carroll Companies is also behind The Avenue, a more than $300 million project that plans to bring a five-star Westin hotel and spa along with hundreds of apartments and retail space for upscale brands and restaurants to Military Cutoff Road in Wilmington. 

The company has developed a range of apartment complexes and mixed-use projects beyond the Carolinas, including projects in Texas, Florida, Montana, Virginia and Tennessee, according to its website. 

The Market Street project is set to span across six tracts of land that are currently zoned for a mix of business, industrial and residential building. For many years, a farm, plant nursery and landscape contracting business operated on the site, according to the community notice.

Two tracts at 8138 Market St. were purchased in June by Bee Safe Porters Neck LLC for $1.77 million each, according to property records. The limited liability company is managed by Roy Carroll, CEO of The Carroll Companies, according to information from the North Carolina Secretary of State. Bee Safe Storage is a subsidiary of The Carroll Companies and has 41 locations across five states.

The Carroll Companies is looking to rezone the land for medium-density multifamily development. The 348 units would be spread throughout the site in two- and three-story buildings, creating an average density of nearly 11 units per acre, according to site plans.

A majority of the townhomes will have attached garages along with a "mix of exterior materials and fenestrations," Carroll wrote in an emailed statement on Monday.

The neighborhood’s primary access will be from Market Street, plans show. Another entrance at the adjoining Brays Drive is proposed, but it will be gated and for emergency access only. Carroll noted there is no through traffic proposed for any surrounding neighborhoods or Porters Neck Road.

The community’s amenities and leasing building are planned for a tract of land along the Market Street corridor while the rest of the townhome community is slated for an area that’s surrounded by the existing Porters Pointe, Porters Crossing and Marsh Oaks neighborhoods.

"We feel that townhomes are a great transitional use for this property," Carroll wrote.

On Aug. 31, an open-house-style community meeting will be held to discuss the rezoning. The meeting is scheduled from 4 to 7 p.m. at the Lutheran Church of Reconciliation at 7500 Market St. Those who aren’t able to attend the community meeting are invited to send an email to [email protected] for more information.

If developers move forward with the rezoning, a formal rezoning application will go before the New Hanover County Planning Board for review before heading to New Hanover County’s Board of Commissioners for a final vote.