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DFI presents two structure idea for Water Street Property

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waterstreetdeck.jpg

WILMINGTON, NC (WWAY) -- Wilmington City Council heard another idea for redeveloping the Water Street Parking Deck.

At Tuesday's City Council meeting, DFI(Development Finance Initiative) presented the latest model.

The proposal included separating the Water Street Parking Deck property into two sections and structures featuring mostly residential units and parking. The height of the buildings would vary but be taller than the current parking deck and would also feature some green space.

City Council members said they need more input before making a decision and will hold work sessions to discuss the presentation given at Tuesday's meeting.

(DFI says photo provided is for visual aid purposes only and would render a more specific model in the future)

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Approve Now!

The city council needs to approve the plan asap so construction can start. Don't worry about the exact number of parking spaces! (Too much parking will just get everyone to drive, making our city streets more congested and dangerous.) Don't worry about the height; the taller the better. The sooner you get more people living downtown and more people to walk downtown, the sooner downtown's economy will improve and the more people you'll find will want to live in Wilmington.

Yep

Residential units are the first step in revitalizing down town. I like the idea of a two building concept. Now of course, I'd like to see the city play fair and GIVE the Hilton 200 parking spaces in that deck.
Oh wait, this is the city - they'll have to do another study first

Vog

grocery store

I was given the opportunity to speak last night and I hope they heard me. I live down town. This is my neighborhood. We really need a grocery store. Not a specialty store that sells milk for $8.00 a gallon, but a competitive grocery store. The current building sketch divides the retail space up. We need to re-design that so a grocery store can have all the retail space under one roof. Bigger is better mentality prevails thanks to Walmart. Man I hate Walmart.

Money Talks

I understand why you want a grocery store downtown, people have voiced the same concerns in many other American cities. However, grocery stores go where there's money, which tends to live out in suburbia where they have to drive everywhere. Have you noticed the high concentration of grocery stores around affluent Mayfaire? Until more people live downtown to make a downtown grocery store economically viable, you'll just have to wait and allow non-grocery store development to proceed throughout downtown…

Starting to look like you just pull numbers out of the air.

What's the story with you? You want a grocery store. We get it. What I'm not getting are your numbers. Looks like you just say whatever comes to mind.

... Today: "Not a specialty store that sells milk for $8.00 a gallon, but a competitive grocery store."

... Just five days ago (Fri, 3/14): "Not a super market but not some place that charges $4.00 for a gallon of milk either."

Highly unlikely that you'll strengthen your case by just arbitrarily continuing to raise your stated price for milk. Just saying ...

Watch the City Council

not do its homework.

DFI is a division of the School of Government @ UNC. Isn't that interesting.

They do none of the actual work. They locate the Developer and assist in arranging finance for the project.

They get paid a fee by the Government entity -- aka the City -- for services contracted.

I wonder if the city will ask for proof of prior successes or even what it will cost.

And how much of a loss will the city sustain when it sells the property, under value, to the Developer

Think Long-term

If the project is a success, the city will easily recoup its loss on the property sell through much higher property tax revenues from not only this property but the surrounding downtown neighborhood. Higher density development equals higher tax revenues for the city and better public services for residents (paved roads, sidewalks, public transit, etc).

I am

thinking long term. That's why the City should look for proof of prior successes from this consultant.