Driving through Wilmington and noting the increased density, along with the many other changes that have taken place over the years, I’m often struck by the quote from Mark Twain, advising to “buy land, they’re not making it anymore.”
The lack of space for new development and infill projects is certainly a problem that we are currently facing, and one that is (obviously) not going to go away. This is why adaptive reuse projects are so essential to the economic prosperity and viability of our region moving forward.
Taking the long history of Wilmington into account, it’s not all that unusual to see large commercial buildings go vacant and then remain available on the open market for months, sometimes years. Part of the explanation for this is that these properties were designed with a unique business in mind, that they would take extensive up-fitting to accommodate something new, and there is a relatively small pool of buyers searching for these types of properties.
This is where the expertise and creativity of our commercial REALTORS® really shines, because ‘the next big thing’ is only a step away from the current reality. All it takes is someone with the vision to dream big and see what’s possible, when others may only see dead ends. Just consider the following examples:
Vantaca’s Balancing Act
Audrey Elsberry
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May 17, 2024
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Channel, UNC Law School Aid Wilmington Small Businesses
Audrey Elsberry
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May 16, 2024
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Developers Mark Opening Of $78M Apartment Project At Riverlights
Staff Reports
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May 17, 2024
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Two Apartment Projects Pitched For Kerr Avenue
Emma Dill
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May 17, 2024
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As Hurricane Season Heats Up, How Do Builders, Laws Prep Homes For Storms?
Emma Dill
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May 17, 2024
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A museum would continue to support those military families and honor submarine veterans but also serve as a way to provide science and math...
The top half marathon in each state was crowned based on nearly 20,000 votes from runners across the country....
The damage caused by Hurricane Florence in 2018 throughout the region put a bigger spotlight on the need for the construction industry to fa...
The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.