Water Street Parking Deck demolition delay could soon end

WILMINGTON, NC (WWAY) — Groundbreaking on demolition of the Water Street parking deck occurred back in May, but the deck is still there.

An amendment is needed to the purchase and development agreement for the RiverPlace redevelopment project.

The reason? Timing of the financing of the project between the developer and the city don’t match up.

If the revised agreement is approved, the funds needed for the demolition phase of the project would be separated from the construction phase.

“This amendment allows us to post a bond in the amount of the demolition amount, as opposed to, a bond for the entire amount of the cost of the parking deck,” said Lucien Ellison, the project manager for RiverPlace.

The revised agreement will be discussed at the Wilmington City Council meeting this Tuesday evening.

If approved, demolition is expected to begin in mid-October, with construction beginning soon after that is completed.