Commissioners back Project Grace P3

New Hanover County’s Board of Commissioners has given its support to a new P3 development in downtown Wilmington.

Project Grace has been on the cards for many months, but looked to have stalled when the commissioners rejected an initial plan from a private partner towards the end of 2022.

However, since then Cape Fear Development has taken on the plans in the North Carolina town and its latest proposals have met with a positive response from the county’s commissioners.

During a board meeting yesterday to consider the plans, the initiative was approved by the commissioners, with the next steps now for the private partner to finalize the design plans and put the construction work out to tender.

A revised development agreement that incorporates the results of the bid process with final financials will now be presented to commissioners for approval in July 2023.