Groundbreaking begins new development at Water Street Parking Deck

WILMINGTON, NC (WWAY) — Out with the old and in with the new.

After years of standing in downtown Wilmington, the water street parking deck is coming down.

Developers, officials and business owners gathered at the Water Street parking deck for the groundbreaking.

The parking deck will be completely demolished and remodeled into a 13-story mixed-use project, including 92 luxury condominiums, 79 high end apartments and more than 400 parking places in historic downtown.

Some businesses see this as another step in the right direction for downtown.

“Having more residential downtown is going to be excellent for us. The more shops and restaurants, we’ve got a good eclectic group at the cotton exchange. I think there’s room for everybody. We look forward to working with this project, but I think it’s good for all of downtown,” Nancy Bullock, a Cotton Exchange manager, said.

The entire development is valued at $78 million and is scheduled to be completed by early 2019.