After the Storm...

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.

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.

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.

Project Update September 14, 2009

I Love the Smell of Sawdust in the Morning

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.

Wilmington, We Have Vertical.

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