A project to transform a former Wilmington car dealership into housing and commercial space is another step closer to reality.

Paseo, a mixed-use development planned by Bella Vista Development Group and Craig Davis Properties, is expected to hold 298 apartments and 15,000 square feet of commercial space at 821 S. College Road.

Members of the project team, which includes civil engineering firm SEPI Engineering & Construction Inc. and architectural firm LS3P, have submitted site plans to the city of Wilmington, where they will eventually be considered by the city's technical review committee.

"If everything goes as planned, we are still targeting construction beginning in October," said Mariana Molina, founder and president of Bella Vista Development Group.

She said construction is expected to take 20 to 24 months.

"The landscaping and the courtyards are going to be really spectacular," Molina said. In keeping with the meaning of paseo, a Spanish word connoting a leisurely stroll,  "we are placing a very heavy emphasis on outdoor amenity space and creating walkability within the development."

In response to a question about recent economic challenges affecting construction, she said, "It seems as though costs have been coming down a little bit so although the concern is certainly there, we almost feel better about it than we did say two months ago."

"We still are very, very excited about the Wilmington market and we know that there are a few developments in the works," Molina said, referencing nearby projects such as The Range on Oleander. "There’s obviously enough need in the market for multiple projects to come on line at once."