WILMINGTON, NC (WWAY) — Construction could be starting by this time next year for a massive mixed-use development on Eastwood Road in Wilmington.
Developer Swain & Associates announced Thursday that site work on CenterPoint, the 23-acre, $250 million project planned near the intersection with Military Cutoff Road, will begin in the first quarter of 2020.
Located at 1531 and 1541 Eastwood Road, CenterPoint will feature shopping, dining, apartment homes, a medical center and a seven-story hotel.
“CenterPoint is located on the best piece of undeveloped property in New Hanover County,” said David Swain, owner of Swain & Associates. “We named it CenterPoint because we believe it will be a new center of activity in our region and will exemplify the type of mixed-use development that the City of Wilmington is working to attract to our community – ones that feature the right mix of compatible uses, are compact, pedestrian and bike-friendly, accessible to transit, and well-connected to adjacent neighborhoods and roadways.”
CenterPoint’s construction hinges on an North Carolina Department of Transportation (DOT) project to extend Drysdale Drive, connecting Eastwood and Military Cutoff. Work on the extension is scheduled to start in the first quarter of 2020, wrapping in 2021.
“We plan to begin site work and construction of CenterPoint in 2020, but rest assured that we will not open any aspect of CenterPoint until the Drysdale Drive Extension is completed and fully operational,” added Swain.
Key features of the project include:
- 7-story, full service hotel with 200 beds
- 300 apartments (one, two, and 3 bedroom) located above retail space
- 50 to 60 retail shops and restaurants, national chains and local boutiques
- 100,000 square feet of office space
- Two multi-level, structured parking decks
CenterPoint is one of two major mixed-use developments planned for the Military Cutoff Road corridor in the coming years.The 44-acre Avenue project has yet to announce when construction will begin.