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Fate of Nesbitt Courts still up in the air

READ MORE: Fate of Nesbitt Courts still up in the air
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Nesbitt Courts has been empty since 2007, but plans to demolish the historic Wilmington housing project could be going up in smoke. In April, Senator Kay Hagan came to Wilmington to award the Wilmington Housing Authority three million dollars in stimulus funding. Half of that money was budgeted for the demolition of Nesbitt Courts, but now a developer wants to buy that property, which means the housing authority can use the money on other shovel ready projects. “Money that we had received wasn’t for any specific purpose. After receiving those funds, we have decided that we would budget a portion of those funds for the demolition of Nesbitt Courts,” said Mike Krause, Wilmington Housing Authority CEO. Since Nesbitt Courts closed in 2007, the gray buildings and boarded up windows have created a bit of an eye soar for the neighborhood, but developer Walter Pancoe would like to renovate the buildings and add some color to the community. “It would be our objective to make those people drive by and say, ‘wow I didn't even know this was here’ and we think we can accomplish that,” said Walter Pancoe of Caper Corporation. The Wilmington Housing Authority agreed to sell the nearly 12.5 acre lot to Pancoe's company, the Caper Corporation. The agreed price is $3.1 million. Pancoe says the project would also raise tax money for the city. “And it would not add to their infrastructure because it is already there. All the sewers, and water and roads and paving are pretty much in place.” The Caper Corporation is currently in an examination period before the sale is finalized. If the sale is goes through, the Wilmington Housing Authority plans to use the stimulus money to renovate homes at the Creekwood community. The money from the sale would also be put to good use. “I think it provides us an opportunity to use the proceeds from the sale to do additional affordable housing development in the community which is something that not only fulfills our mission, but fulfills the need of the community as well,” Krause said. The Nesbitt Courts is on a historic registry and the buildings were created in the 1930’s. If the sale goes through it would be approved by March. Pancoe plans to turn the housing complex into town homes and add amenities like an indoor pool to the community. He expects the homes to cost less than $250,000.

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..ask the WPD if they think

..ask the WPD if they think it should be re built!Housing projects are not the answer,they breed crimnals and the good people are so intimidated they live in fear.I grew up in this area and losing that eyesore is a blessing.

Bulldoze Creekwood

They need to take that money and BULLDOZE Creekwood ASAP. Get rid of all the slums in Wilmington it's the only right thing to do.

Agree

Quarter of a Million to move in to "New Deal" Era public housing is this guy for real? Its going to essentially turn back into what it was but with more colorful accents.

Tear it down!

There is nothing historically worthwhile about Nesbitt and we all know what a failure old-school housing projects have been. While I'm certain upper class liberals will hem and haw over how unique this development is, I am quite certain that anyone who had to live there will not share those sentiments. Demolish it all, build something like new Jervay, and tear down Creekwood while you're at it!

?

If you read this you would know that is the plan.I don't think anybody cares if its torn down.Now guest777's comment asks a better question.

$250,000?

Who would pay half that to live in that neighborhood? You have the attractive tank farm across the street, and are located in an area where you dare not go out at night or fail to get an alarm system installed on your residence. My money says the town homes will never be built and the project will evolve into a dressed up version of exactly what it was.

Good point

You bring up a very good point. It is possible that even building a new style development there would be foolish due to its location near all of those gas tanks. The area should probably be rezoned as industrial or commercial. There are plenty of other spaces where a more attractive and safe neighborhood could be built that would allow worthwhile, hardworking, but struggling individuals to have decent housing.