Investors recently paid more than $2.5 million for property in Wilmington that comes with government approvals for a 61-unit residential development. 

Bradley Heights – a “cottage courtyard” housing project planned on a little over 7 acres off Oleander Drive and Peiffer Avenue – was at one time set to hold rental units.

But the rental plan has changed. Land developer Bradley Heights Ventures LLC bought the site, made up of five parcels and a portion of a sixth, for $2.563 million in April, according to property tax and deed records. Hagood Homes is expected to build for-sale units.

“From a vision standpoint, we’re really excited about a reputable local builder like Hagood finishing it out,” said Ross Tomaselli of Wilmington-based Cadence Realty. 

Ross Tomaselli, along with his father, Joel Tomaselli, came up with the concept and worked on getting the necessary government approvals for the cottage courtyard homes. They are also managing members of the site’s previous owner, Bradley Heights LLC.

Cadence Realty agents ​Will Daube and Evan Barton represented the buyers and the sellers in the sale of the Bradley Heights site.

Efforts to reach a representative of Hagood Homes for information on a potential timeline and more details were not immediately successful.

Developers continue to try to capitalize on the demand for housing in the Wilmington area.

"We think it's going to be a really nice and much needed housing project for for that area of town," Ross Tomaselli said.