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Real Estate - Commercial

Riverlights To Grow With New Apartments, Commercial Space

By Emma Dill, posted Sep 13, 2023
A new commercial and residential project proposed near Riverlights would include close to 24,000 square feet of commercial space and 274 new residential units. (Image courtesy of Capstone Communities)
Riverlights is slated to grow again with an extension of Marina Village, the existing mixed-use hub that’s home to apartments along with a range of shops and restaurants.

Developers submitted plans for the new, 24-building project earlier this month to the city of Wilmington for technical review. It's the latest in a series of expansions for the 1,400-acre, master-planned community that's situated along River Road near the Cape Fear River.

The development, which has a working name of Riverlights Town Center, will extend the existing retail, dining and multifamily area within Riverlights, according to Nick Cassala, vice president of operations for Riverlights owner Brookfield Properties.

“Always a part of the master plan, this project will extend from River Road to the riverfront, and will enhance the variety of Riverlights’ commercial businesses and serve as a destination for our residents and the broader Wilmington community,” Cassala wrote in an emailed statement to the Greater Wilmington Business Journal.

Site plans submitted to Wilmington leaders show a mix of three- and four-story buildings spread across a 10.8-acre site. The buildings will have a combined footprint of 78,881 square feet and will feature 274 apartments and close to 24,000 square feet of commercial space, according to site plans. The development is located just south of Marina Village on land that’s bordered by roadways Watercraft Ferry and Sandalwood Way.

The planned apartments are set to include 120 two-bedroom units, 114 one-bedroom units, 22 three-bedroom units and 18 studios, according to site plans. The development will also include a pool and clubhouse along with 519 parking spaces and eight garages.

Birmingham-based development firm Capstone Communities will serve as the project’s developer. 

Although several proposals were evaluated for the site, Capstone Communities was selected because of its “thoughtful land plan which most aligned with our vision to provide a cohesive transition from nearby Marina Village,” according to Cassala.

Marina Village, which is located near the northern edge of the Riverlights community, was the community’s first commercial hub. It’s home to an array of businesses, including an indoor golf venue, a pizza parlor and a bike shop.

Capstone Communities also developed The Cottages at Riverlights, the area’s first single-family, for-rent neighborhood, which is located in 7Bridge.

Last year, Riverlights leaders announced plans for 7Bridge, the community’s second commercial hub. The 37-acre hub will be part of a larger 120-acre mixed-use village that will anchor the southern entrance of Riverlights. That village will include The Cottages, along with Argento, a luxury apartment complex.
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