WILMINGTON — The 1,400-acre mixed-use community of Riverlights, situated along three miles of the Cape Fear River, revealed plans for the next phase of its development. In the next two years, a 37-acre commercial village near the community’s southern entrance will open.
The commercial center, to be named “7Bridge,” will be situated as a midway point between Carolina Beach and downtown Wilmington. Parcels are set aside for retail, entertainment, service commercial and offices, with initial businesses opening between late 2023 and mid-2024.
ALSO: Largest Harris Teeter in the Southeast underway in fast-growing area of Wilmington
7Bridge will be part of a larger 120-acre mixed-use village that will anchor the southern entrance to the Riverlights community. Plans include a wide range of residential projects, including a new multi-family luxury apartment community and a single-family-for-rent neighborhood, according to a press release.
“We are developing this as a pedestrian-friendly lifestyle and convenient commercial center that elevates the every day for our Riverlights community and the surrounding area,” said Nick Cassala, vice president of operations for Riverlights. “We anticipate national brands and franchises will want to locate here, as well as independent entrepreneurs.”
The new luxury apartment community, Argento, planned for the village will be situated at River Road and Quigley Boulevard. The 17-acre parcel is designed for up to 286 multi-family units and slated for completion in 2024. The single-family-for-rent neighborhood, called “The Cottages,” is scheduled for completion in 2023.
READ MORE: Riverlights hops on growing build-to-rent trend with multifamily village
Adjacent is the site for a New Hanover County elementary school, forecasted to open for the 2025-2026 academic year, and a future 4.9-acre public park with access to Motts Creek.
“We are delighted to represent such an outstanding project that is essentially one of the last remaining large commercial development sites available in the Wilmington area,” said Dan Pellegrino, senior vice president of Bridge Commercial, a commercial real estate firm headquartered in South Carolina which represents 7Bridge.
Riverlights plans to have approximately 3,000 single-family, age-qualified, multifamily, townhomes and custom waterfront properties. The community will feature commercial space, eight public parks, a 38-acre freshwater lake, community gathering spaces, and views and access to the Cape Fear River.
Riverlights is preparing for a late-summer release of 360 new homesites in its next phase of development, its first significant property release since 2019.
Have tips or comments? Email info@portcitydaily.com
Want to read more from PCD? Subscribe now and then sign up for our morning newsletter, Wilmington Wire, and get the headlines delivered to your inbox every morning.
