CAROLINA BEACH — Two plans for a mixed-use development including a parking deck are on the table in Carolina Beach. Both proposals would combine public and private funds.
Plans for this public-private development project were first discussed in January during a council retreat. In May council approved the motion to put out a request for proposals from private developers – two responded to the call.
According to Town Manager Michael Cramer, “The mixed-use development could be, and these are just options, not anything that we would stipulate, but commercial, ground-floor residential, top-floor and middle floors would be parking deck. Our last parking study that we did last year with SB+ suggests that we probably will need in the near future … 300 (additional) parking spots.”
Related: Could a mixed-use development in Carolina Beach help solve parking woes?
The mixed-use development was proposed to help solve some of the parking issues the beach town has faced for several years. The initial plans call for the development to provide an additional 300 parking spaces and will be situated on town-owned property.
“The mixed-use development could be, and these are just options, not anything that we would stipulate, but commercial, ground-floor residential, top-floor and middle floors would be parking deck. Our last parking study that we did last year with SB+ suggests that we probably will need in the near future … 300 (additional) parking spots,” – Michael cramer, town manager
On Tuesday Town Council will hear presentations from the developers, Harmony Hospitality Partners and the Development Finance Initiative from the UNC-Chapel Hill School of Government.
The two proposals will be presented at tomorrow’s council meeting and council is expected to select a firm and authorize the town manager to enter into a predevelopment agreement.
Harmony Hospitality
Harmony Hospitality is the developer behind the Embassy Suites Wilmington Riverfront Hotel that opened last year. The company is one of two developers Carolina Beach might contract to consult on the project.
The total lump sum for Carolina Beach for the consultant fees would be $72,000 with $42,000 going to Harmony Hospitality and $30,200 to Becker Morgan Group – a firm used for architecture services.
A proposed schedule from Harmony shows the predevelopment phases complete by spring 2019, construction of parking deck beginning in October 2019 and an overall completion by 2021.
Development Finance Initiative
The Development Finance Initiative (DFI) was, “Established in 1931, the UNC-Chapel Hill School of Government provides non-partisan educational, advisory, and research services for state and local governments. The School of Government established the Development Finance Initiative in 2011 to assist North Carolina communities with achieving their community economic development goals. DFI partners with communities in North Carolina to attract private investment for transformative projects by providing specialized finance and real estate development expertise,” according to the submitted proposal.
DFI would charge the town is $96,000 and does not include costs associated with consultants or architects.
DFI is proposing a 12-month schedule to accomplish the predevelopment phases for the town.
The Town Council meeting will be held Tuesday in Town Hall at 6:30 p.m.
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