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WILMINGTON, NC (WWAY) — Wilmington City Council is scheduled to have a public hearing Tuesday to consider buying 6.63 acres of property along the northern downtown riverfront.

The city says the price tag now is $3.7 million. We’ve also been told multiple times by the city that it doesn’t know where that money will come from.

The property is owned by Chuck Schoninger and Riverfront Holdings II, LLC. It’s part of a larger piece where the Almont Shipping Company was.

Riverfront Holdings II, LLC is the developer of the marina and riverfront development that is taking place between the Wilmington Convention Center (to the South) and the proposed riverfront park (to the North).

The city says the placement of a public park along the riverfront is consistent with the Vision 2020 Downtown Plan, which states, “The lack of downtown parks and open space has a critical impact on the urban environment. Without inviting recreation opportunities or public gathering places, the reasons for visiting or staying downtown are reduced for both local residents and tourists.”

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