A prominent corner in downtown Wilmington is about to become more prominent with the addition of an upgraded bank and office building.
What once was the two-level PNC Bank at the northwest corner of Third and Princess streets is set to be replaced with a multi-story building that will house another bank—the BB&T branch located next door—additional office space and potentially some retail.
Demolition on the PNC building started late last week, and construction crews were continuing to raze the site Monday, clearing debris from the lot across Third from City Hall and catty-corner from the New Hanover County Historic Courthouse.
Jeff Walton, a planner with the City of Wilmington, said the developer, 101 North Third Street LLC, plans to replace the PNC building with a 69,000 square-foot building that would house the bank on the ground floor and consist of additional office space above. He said retail space for a coffee shop or restaurant has also been mentioned as a possibility.
BB&T plans to occupy the ground floor, Walton said. PNC, which acquired the site from RBC Bank, remains represented in the Wilmington area with seven other branches.
Cape Fear Commercial is leasing the property. Co-founder Brian Eckel, who is handling the property, could not be reached for comment Monday.
Walton said the new building would maintain the current layout of the bank fronting Third and a drive-thru in the back, and he said the site would also provide 12 surface parking spaces that would be covered by the building.
The additional office space will be the latest in a surge of new properties along the North Third Street corridor, where construction continues on the City Block Apartments between Brunswick and Bladen streets and, on the other side of Third, Cape Fear Community College’s Humanities and Fine Arts Center.
The developments follow the city’s North Third Street Improvement Project, which enhanced the busy corridor with pedestrian improvements, underground utilities and new traffic signals, among other aesthetic and safety upgrades.
Related story: City ready to wrap on North Third Street improvements
Jonathan Spiers is a reporter for Port City Daily. He can be reached at (910) 772-6313 or [email protected]. On Twitter: @jrspiers
