Wilmington Riverfront Project

One Bottle of "Maker's Mark" Coming Right Up!

2010-12-13T05:59:00.000-08:00

I contacted Dr. Bruce Williams earlier this year while trying to solve an ongoing saga at the RiverFront (why can't I get grass to grow??) and he provided some invaluable advice.

Dr. Bruce (as he is known locally) is a horticulturist with over 30 years of experience. He is also the host of "DownEast Gardener" which appears weekly on our local NBC station. If you've read his articles or seen him on TV you are already aware, this guys really knows his stuff.

I contacted Dr. Bruce and he was extremely helpful. He immediately identified what should have been my 'first step' several months ago with, "Have you tested your soil?"

I responded with enthusiasm and confidence, "Yes, many times. We tested the soil when we built the retaining walls, we tested the soils when we were bringing in loads of fill dirt, we tested the soils before we built the roads, and we've already tested the soils for the Marina House foundation!"

To elaborate on my own ignorance, in the construction world we test soils for stability before building ON them. In the horticulture world, you test soils before planting to see what's IN them.

Dirt is dirt, right?

Not exactly. So after scientifically collecting random samples (no metal shovels or buckets), filling tiny little boxes along with completing a few forms at our local arboretum and (for FREE) the good people at the State's Department of Agriculture did a REAL soil test of our dirt and posted the results online about two weeks later.

The report? Not good. Even Dr. Bruce was slightly alarmed.

"Where in the world did this soil come from? It is very atypical of soils I usually see in this area"

Strangely, I was a bit relieved. I had been trying to grow grass on this site for almost two years so at least I found comfort in knowing "it wasn't me."

Dr. Bruce was undeterred - his recommendations were delivered with detail and authority. He outlined a prescription of fertilizer and seed that would make the surrounding sites green with envy!

"What do I owe you for your time?" I respond.

"Ahh, how about a bottle of good brown liquor?"

I am grateful that we have someone with his knowledge and resources living right here in Wilmington willing to help our neighbors in a time of need. Thanks Dr. Bruce!

Rotary Road-Show? Sort of...

2010-09-06T15:52:00.000-07:00

Ann Willard, Dave Spetrino and Darcie Keefe after Dave's presentation about the Northside Re-Development in Wilmington

Every once in a while I get asked by local groups to come and talk about stuff I know a lot about.

Unlike the majority of my public presentations, which include the City Council or the Historic Preservation Commission, these are my favorite kind of gigs because THEY are asking ME to talk to THEM.

It's nice to be invited and fun talking about topics I enjoy - the RiverFront Project is no different.

There are several Rotary Clubs here in Wilmington. I received a call from Greg Uhl who asked that I speak to his lunch group Downtown at the Roudabush Building on the corner of Front and Dock. It must have been well received because later that day I received a call from Darcie Keefe to speak to her group the following week (they meet for breakfast at Bob Rippy's Jungle Rapids on Oleander.)

It would have been easy to fill 30 minutes on the RiverFront project but I expanded my powerpoint presentation to include some background regarding the work our company was involved in the re-development of N 4th Street and the Brooklyn Arts District.

I expounded on the incredible amount of public investment in the Northside of Wilmington with the City's new Convention Center, North Front Street landscaping and pedestrian improvements as well as the incredible new buildings underway at the Cape Fear Community College.

Adding to that, the significant private investment by PPD for their new high-rise global headquarters (also adjacent to our RiverFront Project).

I spoke briefly about the proposed minor league baseball field on the Almont Site to our south before saving the grand finale for an update on our Sawmill Point Marina, the new City RiverWalk and our proposed buildings - especially the Marina House.

Thanks to our local Rotarians for the great work they do within our community. Even better, thanks for allowing me to educate and entertain more of our neighbors about the exciting new developments happening Downtown.

The Lift Event!

2010-06-29T09:10:00.001-07:00

The "Lift" - views from the first, second and third floors of the Marina House (yes, I have experience operating heavy machinery.)

Friends and associates under the tent with PPD in the background during our Thursday night event.

More of the crowd and our singer, Jesse Stockton under the tent.

Chuck and Mary Dean stopped by, their company, Dean Hardwoods, was located on this site for over 25 years!

ABP [Always Be Planting!]

2010-06-05T18:21:00.000-07:00

I tend to like most folks but I draw the line at people who don't have the ability to recognize the value of trees and understand what they mean to the place you live.

I realize trees may have to come down for buildings or roads but it you aren't replacing lost trees with (many) new ones, well, my respect for you, both personally and professionally, will quickly fade.

Trees are the cheapest, easiest thing to do to improve your yard, your neighborhood, your whole community. You want to know if a City is blessed with strong leadership? Learn about how seriously they take their trees and you'll have your answer.

Proud Spetrino boys with plaque and sign.

City Council presentation for local tree award winners.

When you are walking down the street isn't it easy to enjoy the stroll when your are walking under a canopy of trees? Trees make a neighborhood street more interesting, they also make the street safer, people drive slower when they are cruising along a tree-lined street. Hot out? Stand under a tree.

Ever been to Lumina Station? Forest Hills? Aren't they great spaces? I don't believe it's a coincidence that the most valuable, most desirable homes and businesses are also located in areas with the most plentiful trees.

Every place you like being has trees (and the beach doesn't count.)

It's always great to be acknowledged for your hard work but I can't put into words my appreciation for the RiverFront Project being recognized for its street trees. It's an accomplishment that makes me very proud.

I think this proverb sums up my perspective as to the importance of trees and the long-lasting effect they will have on the success of a community:

"A society grows great when old men plant trees whose shade they know they will never sit in."

If you truly want to make a difference in your community start with some "low hanging fruit" by learning more at the National Arbor Day Foundation. (You get 10 trees free just for joining!)

Fair Warning: This is not what my voice sounds like...

2010-05-20T07:39:00.000-07:00

I have been experimenting with video all week and before I invest a couple hundred dollars on one of those really cool 'flip' cameras I wanted to see what I was getting myself into.

Rusty RELUCTANTLY let me borrow his camera after I promised not to remove the clear plastic protective covering that is still on it from when he bought it new.

Something is wrong with the sound though, my voice doesn't sound all 'nasally and whiny' like that. It's much smoother in real life, like the guys that do the voice-overs for movie trailers, more "velvet-like"...

But what you will see is a great, (slightly shaky) shot taken of the main approach to the Marina from Cowan Street and the beginnings of our new 'district' along the Wilmington RiverFront.

Write back and let me know if you think I should make the jump to new technology (and a lapel mic!)

RiverWalk: Wilmington's "Most Visited"

2010-05-19T08:13:00.000-07:00

I am really proud of the newest section of RiverWalk adjacent to our project along the River. We were charged with the design, management and construction and it turned out great.

The contract for the section by the new Convention Center has been awarded and will be working its way North. It won't be long before our section is extended South. While our portion isn't the "Most Visited" (yet) it will be soon!

Some more 'experimental video' for you to check out.

The Marina House!

2010-05-18T17:58:00.000-07:00

The Marina House. 11 residential homes, all with water views, and our Marina Club Room. Downtown Waterfront living - from the $170's. Contact us today for details and a private tour of the project.

After the Storm...

2010-05-17T06:25:00.000-07:00

Looking South toward the PPD Building. Our green grass was turning brown, hopefully the much needed rain last night will give us some color.
It's hard to get a true gauge as to how large the overall site without something identifiable next to the trees (some new buildings would be nice).
The City installed a few park benches along the RiverWalk. This one sits just under a large cypress tree.

April 2010 - The Aerials

2010-04-19T05:19:00.000-07:00

New Aerials! Check out the following new pics of the Wilmington RiverFront Project.

I am always fascinated by these two shots (above and below), looking South, down the River and toward the Ocean. It is a great perspective of the many mature trees we have in Wilmington as well as a reminder that the re-development opportunities on the Northside will take much needed development pressure off of the Historic District.

Looking South, this is "closer up" - but still doesn't show the details of the site as well as I would like. For instance, the 11 live oaks planted along the boulevard are taller than the street lights!

Long shot looking North with the 200' PPD Tower on your right side.

If you look closely in the lower left corner you can see the City's new Front Street improvements just about finished (from Red Cross to the Parkway). It includes a landscaped median, new streetlights and LOTS of trees.

Handsome devils. Well behaved in the back seat of the Cessna (with a little help from their Nintendo DSI's). Nick, 9 (on the left), Lane, 7. Both need haircuts but were very patient while Dad and Steffen circled the RiverFront Site several times before heading down to Myrtle Beach for lunch and a "treat"

The "Stupid" Tax

2010-03-16T12:33:00.000-07:00

This is a 'rotary broom' - it's like a street sweeper without the vacuum part. Better yet, operating it is much like 'reverse vacuuming' - unfortunately I know all of this because I spent two days in the drivers seat...

Why am I 'reverse vacuuming' for two days in the first place you ask? Well, let me start from the beginning:

I don't know about you but money has been a little tight around here lately. So I thought it would be a good idea to spend my weekend 'free time' by doing some work on the site myself.

Actually, this was more of a punishment, hence the "stupid tax" for failing to heed the Common Law of Business Balance:

"It's unwise to pay too much but it's unwise to pay too little. When you pay too much you lose a little money, that is all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing you bought it to do. The common law of business balance prohibits paying a little and getting a lot. It can't be done. If you deal with the lowest bidder, it's well to add something for the risk you run. And if you do that, you will have enough to pay for something better!"

With a major site construction project like ours, you aren’t done until you've established grass.

Do you have any idea what seeding, mulching and crimping an acre costs? How about 6 acres?

I didn't either until I got the first set of quotes and was convinced that the recession applied to everyone but landscape contractors. Prices to seed the site were all in the 'five figure' range - no joke.

I mean really, how hard is it to put down some seed and straw for cryin' out loud?

And that was the point when I started to travel down an obvious path that drew me ever closer to the pending 'stupid tax' I was about to pay.

I called my lawn guy and told him I wanted to try a little experiment - "let's try just seeding the borders along the roads and maybe the grass will take root and regenerate the rest of the site. If it doesn’t work we can always seed some more in a few weeks."

How much? $1500. That still seemed like a lot but, "hey, maybe I'm the first guy to come up with this great idea - and besides I am saving thousands...!"

Well, they raked and planted seed. (No straw, I mean, what does straw really do anyway) and, as luck would have it, it was scheduled to rain later that week. The forecast also called for high winds. Oh good I thought, a little rain to get things growing and then some wind to keep the birds from eating the seed (?)

Well the rain came and the winds followed. I didn’t have to worry about birds because the wind was blowing so hard that several tons of seed-filled-dirt blew off the site and into the road. It was like a blizzard of sand – there were drifts! The curbs and gutters were filled to the brim; I didn’t even know where to start... what a mess!

(By the way, straw, when crimped into the ground provides, among other things, stabilization for both the seed and the soil from blowing away)

The site looked terrible. It was late Friday afternoon and since I created this disaster, I was going to clean it up.

Fortunately there is an equipment rental place near the site. I started with one of those back-pack-leaf –blower-things but after 45 minutes I had barely made a dent in moving the sand back to its rightful place. I returned the blower and asked for suggestions (hence the rotary broom).

Side note: Beyond the obvious, I learned that pretty much anyone can rent any piece of machinery if you act and talk like you know what you are doing. Kind of scary. Also, you will pay about half price for heavy rental equipment on the weekends as long as you promise to have it back by Monday morning before the pros will need it...

It took the whole weekend along with some manual shoveling help from my Dad (who was paying his own stupid tax for his portion of my genes) but the site looked great and by Monday afternoon I went ahead and hired a company to seed the site. Even though I still think it cost too much money; we should have a ‘good head of grass’ in a couple more weeks…. Don't worry, I'll post plenty of pictures!

"Up Close and Personal"

2010-01-18T18:44:00.000-08:00

Thanks to my good friend (and new co-pilot), Steffen Kuronen, our new aerials were taken this morning.

He took some great shots and even though I know everyone LOVES the aerials, it just doesn't compare to actually walking the site and seeing it 'up close and personal'.

The major components of the site development are complete (paving, sidewalks, stormwater, etc) but we still have a few loose ends to work through - namely GRASS!

As Spring approaches, the details most important to the 'pedestrian experience' (like landscaping) will start to fall into place. With over 30 boats committed to the Marina and the RiverWalk complete, we have a lot of new visitors at the project.

It's tough to appreciate the scale and scope of the site from the air (everything looks so small) - but when you actually park the car and begin to walk the site do you realize that this project is more than just some land Downtown - it's practically it's own District!

January 2010 - Aerials

2010-01-18T18:00:00.001-08:00

For the best resolution, please click on the actual picture for it to enlarge.

Great clear day looking South down the Cape Fear toward the Atlantic. The site is located in the center of this image.

Looking South, image taken over the terminus of the MLK Parkway.

Looking North East at 1100 feet above the Cape Fear. Note the new traffic circle at the base of Cowan Street at the far right side of the image.

That Last Day of School Feeling...

2009-12-22T14:08:00.000-08:00

You know what I mean, that "no more pencils, no more books" feeling.

The sensation you get after you finish your very last exam - that feeling of relief. Not even concerned if you aced the test or got a C, it's that feeling of accomplishment that's hard to describe (and only comes around just a few times in life.)

This is different from, "what a long day, I think I'll have a cocktail feeling..."

It's that deep set emotion that comes from knowing you worked hard, kept your promises, not only 'showed up' but 'showed up prepared' and delivered your very best.

When I saw these bikes locked up on the RiverWalk one evening last week, with the boats resting in the backdrop, that same sense of pride, triumph, but most importantly, satisfaction was overwhelming.

Look at it through my eyes, someone who is thinking (all the time) how to create great places for people to live around Wilmington. Not once did I imagine my first residents would be actually living in the marina, on a boat!

And it didn't matter that this wasn't what I had initially planned when we started the project, the achievement was the same. Someone was calling this place home - and that is why I do this.

Our story will continue to unfold, and thus far, you have merely read the preface. The first chapter is coming, and if this project were a book, it wouldn't be just a 'best seller', it would be a 'classic' - one we are certain you will enjoy.

Star News Article December 18, 2009

2009-12-19T12:47:00.000-08:00

Star News Article, December 14, 2009

2009-12-19T12:01:00.000-08:00

2009-11-17T18:40:00.000-08:00

Low tide on the Cape Fear River with the Isabel Holmes Bridge in the background. Dusk stills the water as Sawmill Marina waits patiently for its first Captain to arrive.

Do Well, Do Good.

2009-11-17T17:47:00.000-08:00

Those were the words my Dad said to me two decades ago as I began my journey into the 'real world' as a College Freshman.

I don't know that I really thought about what he was saying until much later in life.

Today I was required to look around and take note of my own accomplishments, without the measure of money or accolades following closely behind.

I was surrounded by business leaders, politicians, development professionals and good friends. We were hosting CCT (Coastal Carolina Tomorrow) for an evening social.

With Downtown Wilmington in the background, we were sharing the new RiverWalk with our associates and allowing them to judge for themselves the important work we are all doing within our Community.

Their favorable impression was evident.

And for the first time in years (literally) I actually took a breath and looked around at what is quickly becoming the end of one journey and the beginning of a new one. I feel as though I have spent a lifetime just to get this project to some semblance of reality and yet we still have so far to go.

The role of the real estate developer is to have a positive impact on the community and the environment.

To that end, today was a good day, our team has done well and for that I am proud.

"The Aerials"

2009-10-14T12:37:00.000-07:00

October is one of my most favorite times of

year in Wilmington. My co-worker, Andrew

Lee, and I went for a mid morning flight last

Thursday. He took the pictures and I kept us

above the ground and out of the traffic pattern.

Check them out:

Contextual image showing the RiverFront Site,

bordered by the Parkway with the Central

Business District in the background. 10/8/09

As seen from the River, you can see the border

of the RiverWalk lined along the bulkhead as

well as the two access points to the 41 slip, deep-

water marina. 10/8/09

Even at 1000 feet above sea level, it's hard to

get a close up shot of the whole 11 acre site.

You can see the new trees along the new

boulevard as well as the RiverWalk and Marina.

"Mid Terms"

2009-09-29T18:43:00.000-07:00

With any project, the closer you get to the completion of a significant milestone (as in this case, the sitework and RiverWalk) the greater the flurry of activity.

Take a look at the following progress report from Rusty Meador, the project manager, this overview is a typical 'day in the life'. And speaking of Rusty, he was featured last Friday in an AP news article about the changing roles and responsibilities during the current economic upheaval. We're not happy about the economy but we are very proud of Rusty's perseverance and hard work - and its pretty cool they used photos of our project in the article.

Be on the lookout for an extended update along with some new aerial photos (hopefully) after the 10th of October:

Sitework:

We are working on getting as-built drawings completed for sewer\water, and any stormwater that is needed. That is the first step to having all of the utilities certified and signed off by the engineer. We are tracking to have all of the approvals by the week of October 19^th.

We have a verbal confirmation from the planning department that they are going to allow the installation of the additional storm basins between the upper and lower site and the elimination of the retaining wall on the south side of the site.

Once we pick up the stamped\approved plans we can immediately authorize the installation of the stormwater basins as they are the only thing standing in the way of the crosswalks... which the city just approved the specifications, and we now have the numbers where they need to be.

The carpenter traffic to the site will slow down on or about October 13^th. We are pushing to have all of the above mentioned stormwater boxes installed and certified to coordinate with the slowdown of site traffic. We anticipate a two week installation for all of the crosswalks.

Roundabout:

The pre-cast for the raised manholes were designed DOT rated by the engineer at the last minute. We got the submittals approved last week and the structures actually started to show up today – about a week earlier than they thought they could do it with the 5000psi rating. I talked to the contractor and let them know they are here. They believe they can get a crew here Thursday to start install. We anticipate 2-3 weeks for installation – including the dirt import. The average height we are raising the roundabout is 5 feet.

Riverwalk:

The north access with the decorative\sandblast concrete will be poured tomorrow afternoon and sandblasted Thursday morning. We will get two “landings. One at the top and one at the bottom. It actually breaks up the transition very well.

The rails are complete to the end of the riverwalk. They will be finishing\punching the main walk and accesses into the middle of next week.

The carpenter is going to include the middle access as part of his contract price, so I am going to go ahead and make provisions for that to happen. He will receive the materials the early part of next week, pour the grade beam, and have it set by the end of next week. It is worth the time\effort as it makes access to the marina that much easier.

The main power and transformers have been installed by Progress Energy. We will use the central and south access to get power to the riverwalk and marina. Miles will start building the power disconnects once he has the trex gangways completed early next week (we are going to use trex gangways from the riverwalk to the fixed piers instead of aluminum.

Finally, if you are near the site (at night) check out the new street lights. They are lit and look incredible. Once the RiverWalk and Marina lights are connected we will make a tremendous presence for both the riverfront and the City.

Just Add Water...

2009-09-14T13:32:00.000-07:00

FINALLY, our trees are here!

Not having trees on the site when we first began the development process was both a blessing and a curse. With no trees, we could plant new ones where we wanted; however, getting large, full canopies could take years (and great trees mean everything to great projects, ask anyone).

Initially we wanted to transplant trees (tree spade) from local farms to the site. One minor problem though, we needed them all to look identical, grow consistently and we needed 11 of them. We have a very specific “vision” for the main street and planning the look correctly from the start sets the stage for the rest of the project to follow suit.

I think we did OK though… You are looking at photos of 8” caliper, conical shaped Live Oak trees that were purchased from a farm in Central Florida. These things are huge! They were delivered in giant 200 gallon containers and “so far, so good”. They are getting watered each day for about an hour and a half via an underground well and drip irrigation system. I’ve carried a set of pruning snips in my truck with me for several years now and I can’t wait to ‘fine tune’ them next Spring.

Additional trees will follow as the buildings come into play but this initial planting is a really big deal – it sets an incredible tone and feeling for the overall development. As you drive along the new boulevard you can’t help but slow down and enjoy their sheer size and beauty.

Project Update September 14, 2009

2009-09-14T11:24:00.001-07:00

I Love the Smell of Sawdust in the Morning

2009-08-12T09:44:00.000-07:00

Sitework is boring. Don’t get me wrong, sidewalks are cool, but the majority of the work is underground, it’s messy, it’s loud and after months and millions of dollars – it’s almost done.

What has been exciting are the RiverWalk and Marina, something I can really sink my feet into. Now that the rails are going up and the parts and pieces are falling into place I find myself spending more and more time on the site enjoying the sights and sounds.

The framing crews for the RiverWalk have done an incredible job on what is now a ginormouos new addition to our City’s RiverFront. We are tracking for a late September delivery to the City – just in time for RiverFest.

Now that much of the day-to-day management with regard to the infrastructure is winding down the shift toward marketing has become the primary focus.

We will begin leasing and selling slips later this month. It’s been hard to get a gauge on the local demand, as we all know, not much has been happening in the market so using data from the last 6 months is hopefully not an accurate indicator for the next 6…

Another major focus is finding an equity partner or lender for the Marina House. This 3 level building is the next major step in further creating a vibrant (and viable) place Downtown on the River. The Marina House includes the Club Room for the Marina but also 11 residences ranging from 600 SF to as much as 1400 SF and pricing from the low $200’s to the mid $400’s. We are talking with a few sources and hope to announce a start date later this Fall.
Finally, the idea of a RiverFront Park on our site continues to gain momentum. I believe the City is very interested in building a Downtown Park and recognizes the long term opportunity. We were fortunate enough to have Charleston, SC’s mayor, Joe Riley, speak at a Power Breakfast on July 20th where the most often repeated quote since his presentation has been, “put the public space on the most valuable property.” Look for an updated post with two conceptual park layouts provided by area architects and land planners.

I love giving tours of the site. Anytime you are interested in learning more about the project just give me a call or send an

email.

Project Update July 10, 2009

2009-07-10T09:04:00.000-07:00

I am starting to feel a little bit like a lightening rod. Usually July is a pretty quiet month for construction and development. It’s hot, people are on vacation but this week has been one adventure after another.

First, a quick report on the project.

The RiverWalk has passed its first round of inspections and the actual deck boards are being installed today. This is exciting and will be quickly followed by the rails, light poles benches and other features. For someone like me who really enjoys the existing Downtown RiverWalk, the pending completion of this phase is terrific.

We had quite a bit of rain this week but it was great to see all of the stormwater systems doing their job. Most of the utilities are substantially complete. We have a few odds and ends but as soon as those are wrapped up we can start leveling off the dirt, backfilling, grading and preparing for sidewalks and landscaping. We are still on track to complete the major infrastructure components by late August. The only bottleneck that we can foresee is the roundabout at the base of Cowan Street – the work is ‘off site’ which means the level of management and coordination is a bit more challenging.

SunTrust, our lending partner, made a site visit this week as well. The local guys brought with them Kempton Shields, one of the chiefs from HQ and I believe they continue to be favorably impressed.

And in other news, we’ve been in the news a lot this week!

Yesterday (July 9) the Greater Wilmington Business Journal ran a detailed article about the project along with some of the back story associated with how we went from being a Builder looking to buy sites for future buildings to the Developer now owning the project. It’s still too soon to tell if that decision was either a really, really good idea or a really, really bad one… Read more at the GWBJ’s website here.

And this morning, the Wilmington StarNews ran a story about the potential for a true, RiverFront Park located within a portion of our project. You can read more about the story and see a new aerial image that we took over the weekend here.

I have mixed feelings about the idea of a park. From a pure development perspective, the best use of the site would not be taking the highest valued piece of land and forgo the opportunity cost to improve it. However, as a Downtown resident and someone who appreciates the power of parks and open space, this could be a huge win for not just Downtown but our whole area.

Long term, the ability for our community to have a city park along the river is not likely to be as readily available in the future, especially as we see local real estate conditions improve and activity around CFCC, PPD and the Convention Center begin to take hold.

Short term, it would help enhance our project. We would gain some momentum, provide the residents of our area another compelling reason to visit Downtown. It may also benefit those considering a residence in one of our buildings or a boat slip in the marina. (Living along the park, overlooking the river and the city skyline). Not an uncommon amenity for most great cities.

It will be interested to see how this story plays out. Feel free to email your thoughts and ideas.

Wilmington, We Have Vertical.

2009-06-29T07:00:00.000-07:00

RiverFront Update, June 28, 2009

Yes Wilmington, we have gone vertical. Curbs have been installed! They are only about 8" tall but for someone like me who needs physical proof of our hard work, getting to look at curbs as opposed to dirt, pipes and rock, this is a big deal.

Nutt street has been compacted, tested, and rolled with abc stone. Actual asphalt paving will be one of the last things we do.

In case you walk the site, head over the Northwest corner and see the 'tree save'. We've spent a small fortune creating a mini-wall around a tree that resembles the White House Christmas Tree. This is to protect an existing tree from the new fill dirt on the site. We didn't have many trees to work with on the site so this was important (although, as much as I like Christmas, I really wish this was a live oak or something slightly more impressive.)

The water line that loops around the site is wrapping up. The last section along the River was the toughest part. You know how if you dig a hole deep enough in the sand at the beach and it starts to fill up with water? Same issue here. The guys at Four Seasons got it done though. On budget and on schedule.

The Riverwalk framing (deck joists) are just about complete. Electrical work will start next with lighting along the decking itself (foot lights) as well as the post lights. It is going to look incredible from every direction. Soon after that we will install the decking with our targeted finish date still being September 1st. Keep your fingers crossed - we have a lot of things that have to be done by September 1st.

Before I forget (and before you ask), NO, you cannot tie up your boat to the marina during the 4th of July Battleship Fireworks. We promised the Fire Chief that no one would dock at the site until the fire hydrants are in place. I know this sounds weird, "If a boat catches fire in the middle of the River we won't be able to get any water to it...(?!)" but Chief Blackley is a really cool guy so we don't mess with him.

Have a happy and safe 4th. It's my favorite party in Downtown Wilmington. It's always a real blast!

Progress Photos June 2009

2009-06-25T19:49:00.001-07:00

Riverfront Update

2009-06-22T05:06:00.001-07:00

Momentum on the project continues to pick up. While much of the management and planning happens behind the scenes over a long period of time (years), including all of the underground utilities, it is exciting to see physical progress on the street curbing and the City RiverWalk.

The concrete curbs for the main avenue (Nutt Street Extension) will begin this week. This will help define the site from a large field of sand to a defined boundary for the project.

The RiverWalk is without a doubt, far more impressive than I expected. The 14’ wide walk way and its location within the sawgrass and reeds provide a great balance to its predominately urban feel that exists at the RiverWalk to the South. The joists are being installed now with the actual boardwalk (decking) to begin in early July.

The structure of the marina has been in place for over a year but we are finally at a point where we can begin tying the Marina to the land through walkway, water and electrical connections. Now that the roads are ‘imminent’ we will shift our efforts toward the marketing of the marina slips for purchase to individuals for use. Boats should be able to utilize the marina by late August or early September.

Major bottlenecks primarily deal with financing and are still somewhat out of our control. At this point we should be preparing to begin the Marina House (the club house for the Marina along with 11 residential units along the RiverWalk). While we continue to receive purchase inquiries regularly about the building we are going to have to obtain financing before any major (vertical) construction efforts can begin. This unknown adds a bit of angst in that it is the next logical step in the Development process and helps to maintain both momentum and interest in the project. Fortunately we have seen recent interest from lenders who recognize that the better located, better quality projects will be the best risks as the real estate market begins to recover.