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Wilmington Expands: New Annexation Brings Big Plans for a New Housing Development

December 20, 2024 By Just For Buyers Realty

What do you do if you’re a city that’s quickly running out of land, with no room for new neighborhoods? Well, in Wilmington, the answer is to annex more property so the city can continue to grow.

That’s exactly what’s happening with a stretch of county property in Ogden, which has officially been annexed into Wilmington’s city limits. And with that annexation, there’s talk of a potential new housing development that could bring in hundreds of new residents.

The newly annexed area is made up of four parcels of land spanning 19.21 acres. If you’re trying to picture it, these parcels are located at 7725, 7729, 7753, and 7759 Alexander Road, along with an adjacent parcel. The move officially went into effect on January 1, and the city’s growth map just got a little bigger.

So, what’s there now? For the moment, it’s home to ten mobile homes and two single-family homes. But if the proposed development moves forward, that’s going to change in a big way.

The early concept for the site envisions 253 residential units, with 25 of those set aside as workforce housing. Half of the workforce housing units would be affordable to those earning 60% of the area’s median income (AMI), while the other half would be targeted at 80% AMI. That’s a meaningful addition to Wilmington’s housing options, especially for those who might be priced out of market-rate housing.

But it’s not just about housing units. The proposed development aims to create a community feel with amenities like a clubhouse that includes a gym and workspace, a game room, electric vehicle (EV) charging stations, a dog park, a pool, a fire pit, and grill stations. It’s designed to offer a little something for everyone.

Infrastructure upgrades are also part of the plan. Currently, the site doesn’t have sewer service, but developers have committed to working with the Cape Fear Public Utility Authority to extend sewer access—and they’ll cover the cost. Plus, a proposed multi-use path would connect the new development to Market Street, making it more pedestrian-friendly.

If you’re wondering about the benefits, the numbers tell an interesting story. Right now, the site’s tax value is about $660,000. But with the proposed development, that number could jump to an estimated $40 million. That’s a big increase that could bring a financial boost to the city’s tax base.

Another plus? The development would clean up the property. Some of the soil on the site is contaminated, and part of the project’s scope includes remediating that issue. On top of that, the developers are aiming for a National Green Building bronze designation, so there’s a focus on sustainability. They’re also making an effort to preserve as much of the site’s natural habitat as possible.

So, what’s next? The public will get a chance to weigh in. A public hearing on the rezoning request is expected to happen on January 7. That’s when the community—and city officials—will get a closer look at what’s being proposed and have their say on the project’s future.

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Office: (910) 202-4813

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5 Silva Terra Drive, Suite 140
Wilmington, NC 28412
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