Condo project in Carolina Beach goes up for auction

A Carolina Beach condo project will be up for auction on Friday. The Arcadius project is now bankrupt.

The plan was to develop condos and a shopping complex, but town manager Tim Owens said the timing just was not right. The auction will welcome any bidder, and sources said one potential buyer may be the Town of Carolina Beach.

“That was a pretty ambitious project, with a lot of condominiums, and a lot of retail space,” said Owens. “The market took a turn and it would have been a difficult project to pull off.”

The auction manager told WWAY auctions like this one may be popping up more often.