WILMINGTON, NC (WWAY) -- Wilmington City Council voted not to buy a plot of land along the Cape Fear River. City Council held a special meeting this afternoon to discuss wether to buy nearly eight acres of land known as the Sawmill Point Marina site.
The property is located at the corner of Cowan Street and the Isabel Holmes Bridge.
City officials were considering the site to use as a park or an economic development opportunity, rumored to possibly include a minor league baseball stadium.
"It boils down to a simple question: does the city need to be in the development business or in the development facilitating business?" Councilman Ronald Sparks said. "I think the position that we took today, I wanted to make sure the riverfront property will be preserved and it will be."
The city currently owns the Riverwalk that runs along the property.