Vacant property on North Fourth Street in Wilmington could one day hold apartments and a 60-seat restaurant in a development referred to as "The Helm" on site plans.
Bush Watson, a real estate investment and development firm based in Portland, Maine, plans to build the apartments and indoor-outdoor restaurant, with parking underneath, at 1010 N. Fourth St.
The five-floor project will be built on a podium, and on top of the podium on the interior of the U-shaped building will be a landscaped courtyard and common area, Bush Watson officials said Friday. They hope to break ground on The Helm in December, expecting a 14- to 18-month build-out.
The Helm is planned to include studio, one- and two-bedroom apartments and will incorporate indoor-outdoor fitness, as well as a resident lounge, both opening to the courtyard.
Bush Watson purchased the property for $1.4 million in March from North 4th Partners LLC, according to local and state records.
Construction drawings for The Helm were submitted to the city of Wilmington by Wilmington-based CSD Engineering. Other Wilmington-based firms involved in the project include Hipp Architecture & Development, which worked on the initial planning for the building, and Mark Loudermilk Architecture, which is designing the facade and completing construction documents.
Bush Watson has additional Wilmington projects in pre-development stages, company officials said. The firm owns several other Wilmington properties, including The Pearl apartment complex.