Developers of the Avenue Flats, a 100% workforce housing complex proposed off South Kerr Avenue, submitted project plans to city officials this week. The 184-unit complex would include apartments priced between 30% and 80% of the area's median income for a 30-year period. Blue Ridge Atlantic Development, the firm behind the project, aims to break ground this summer, ...

Tariffs aren’t likely to make homebuilding in the U.S. or the Wilmington area grind to a halt, officials say. But they do equate to an increased building cost that will be passed to the homebuyer, said Danushka Nanayakkara, assistant vice president of forecasting and analysis for the National Association of Home Builders. That increase, the NAHB estimates, could b ...

The company behind the downtown mixed-use project River Place and other developments in the Wilmington area has a smaller proposal in mind for property near Wrightsville Beach. East West Partners has submitted site plans to the city of Wilmington for luxury townhomes on a little over an acre at 1729 Allens Lane. The project, Villa Point, is a joint venture between East ...

In the Brunswick County community of Ash, a 33.6-acre property recently sold for $495,000. Located at the corner of N.C. 130 and Waccamaw School Road Northwest, the property represented “a unique investment opportunity in Brunswick County,” according to a news release from Wilmington-based Sun Coast Partners Commercial. “The parcel was offered for the ...

J.P. Morgan Real Estate Income Trust bought a Wilmington apartment community for a little over $32 million. The REIT bought The Preserve at Pine Valley, a 219-unit, Class-B complex off South College Road, in a 90/10 joint venture partnership with Ginkgo Residential, a Charlotte-based owner and operator focused on workforce housing, according to a news release. &ldquo ...

A 225-unit apartment complex in the works near the intersection of Carolina Beach Road and Independence Boulevard recently secured construction financing. The project, called Venture at Port City, would bring a mix of one-, two- and three-bedroom apartments to several tracts along Carolina Beach Road, across from the Crossroads at Independence shopping center. The proje ...

A developer with plans to build 4,000 homes on a sprawling Castle Hayne property is working with Unique Places to Save to conserve more than 1,100 acres on the site, according to a letter addressed to county officials and community members. In the letter, Copper Builders founder Wade Miller stated the firm has entered into an agreement with Unique Places to Save, a Durh ...

The real estate firm that bought a build-for-rent (BFR) community in Castle Hayne in July is calling the investment a success. Capital Square, a company that sponsors tax-advantaged real estate investments and develops and manages multifamily communities, announced Thursday that its offering, CS1031 Sidbury Station BFR Housing DST, has been fully subscribed. According t ...

A Raleigh-based property management company recently announced its expansion into the Cape Fear region.  Professional Properties Management (PPM) provides management services for homeowners' associations, offices and condominiums, as well as financial management and new development services. In a recent news release, the company announced plans to expand t ...

The developers of Center Point, a more than $250 million mixed-use project off Military Cutoff and Eastwood roads, announced Tuesday that construction has started on the development's apartment community. When completed, The Sterling will house 265 luxury apartments, including studio, one-, two- and three-bedroom units. According to the release, The Sterling is expe ...