Library monkey junction wilmington nc7/20/2023 ![]() “The land value might perhaps be somewhat more affordable to offset the cost that a developer is going to have to spend to provide service,” Wolf said. Wolf indicated the slow development of Carolina Beach Road’s western boundary is attributable to the lack of public utilities and is part of what makes lower prices feasible on the property. “Townhome communities such as this are in demand due to lifestyle preferences, affordability factors and certainly proximity to services,” Wolf said. It’s now become more common to see commercial or multi-family developments pop up along the corridor. The area has been zoned for lower-density residential development (R-15) since the early ‘70s when water and sewer were less connectable in the area. The presented project comprises 8 units per acre, which Wolf said is still a modest request compared to its surroundings. Under the previous zoning, 2.5 units would have been permitted per acre, or a total of 15 single-family homes for this particular site. The rezoning was necessary to allow for a greater density on the narrow parcel. (The greatest gap was of units $296,001 and up.) The assessment estimated more than 3,600 units are needed between 20 for that demographic, who take home $63,001 to $94,000 annually. Those provisions will stay in place for at least 15 years.Īn April 2020 New Hanover County housing needs assessment revealed the townhome’s target range - the 81% to 120% AMI earners - is the second-most needed type of housing in the area, the foundation’s consultant Cindee Wolf pointed out. ![]() “There are a lot of organizations around this town who talk the talk about affordable housing,” Zapple said, “and you have taken one of your prized possessions - land in this case, here, in a desirable area of Wilmington - and turned it into a really fantastic project.”Įach of the units would come with restrictive covenants to require owner occupancy and assure investors can’t rent the homes for a profit or convert them into AirBnbs, Vrbo vacation homes or other short-term lodgings. The nonprofit has owned the land since at least 2018 when agent Sherri Pickard purchased it for $157,500 and transferred it, according to property records. ![]() Commissioner Rob Zapple applauded the foundation for its efforts and expressed hope others would follow its example. “We have a crisis.”įour commissioners unanimously approved the necessary rezoning to make the project possible (Deb Hays was recused as an active realtor with Cape Fear Realtors, of which Wilmington Realtor Foundation is a subsidiary). Upon a search, he came up with only two townhomes for sale at $295,000. Her nonprofit has expressed a commitment to addressing gaps in affordable housing.Ĭommissioner and fellow realtor Jonathan Barfield said one of his clients was preapproved for $300,000 in the 2842 zip codes. “I’m not going to go into how many properties are available at this time in that price range because there are none to talk about,” Wilmington Realtors Foundation president Jody Wainio told commissioners earlier in the week. Department of Housing and Urban Development. The community is intended to house residents earning an area median income between 81% and 120%, as defined by the U.S. The two-story attached single-family homes will be built on a roughly 6-acre sliver of land at 6221-6229 Carolina Beach Rd. Contact BlueCoast to learn more about Sycamore Grove or to have one of our agents schedule a showing.Forty-eight affordable housing options will soon be erected off Carolina Beach Road, south of Monkey Junction, as part of a townhome project by the Wilmington Realtors Foundation. There are just a few home sites left - call a BlueCoast agent today to schedule a private tour. Here are some more details.Ĭlearly, Sycamore Grove offers convenient new home living at its finest. Enjoy taking a stroll, or riding a bike on the sidewalks throughout this lovely community, or meet your neighbors at the community pool and clubhouse. Many features which are typically upgrades come standard in Sycamore Grove, such as stainless steel Whirlpool appliances, James Hardie siding with a 15 year warranty, chair railing and wainscoting in the dining room and foyer, oak hardwood flooring in kitchen and foyer, ceramic tile in master bathroom, and much more. Wooded home sites are larger than average, and range from ½ acre to ¾ acre. Sycamore Grove has twelve different floor plans available, in a variety of elevations, ranging from 1820 – 3320 square feet. Enjoy the convenience of having shopping, fine dining, banking, medical offices, golf, the library, parks and beaches all within a short drive. Sycamore Grove is a Bill Clark Homes community, featuring new, quality construction homes, located just south of Monkey Junction. Are you searching for a convenient new home community in Wilmington? If the answer is yes, Sycamore Grove is certainly worth a closer look.
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