My New Blog

Work begins on Eastwood Road development

By Wayne Faulkner
Business Editor
wayne.faulkner@starnewsonline.com

The movement of dirt and the clearing of trees along Eastwood Road is a concrete sign that the long-planned Autumn Hall development is under way.

It also is a sign that Raiford Trask III, the developer of the 236-acre mixed-use project, is confident there will be a solution to Wilmington 's sewer problems before construction begins on the first 97 of 270 single-family homes planned for Phase 1 of Autumn Hall. Additionally, it is a vote of confidence by Trask that residential and commercial real estate markets will be receptive to the project.

Work has begun on the development's residential infrastructure, which includes roads, sidewalks, parks, landscape, hardscape and installation of utilities - including sewer mains, Trask said Wednesday.

"We received permits prior to the moratorium, which allowed us to put in mains, but not individual taps," Trask said.

That's because the development is served by the Northeast Interceptor, a sewer main at the center of problems that have resulted in nearly half of the city being put off-limits to new building permits.

Wilmington officials say they are on pace to complete required repairs to the sewer system by January. That could lead to the state lifting restrictions on the interceptor and allowing development to move forward.

"We are highly confident in the city's work to repair the lines, and from what we understand everything's going according to plan," Trask said.

Construction of the homes won't happen before late spring, said Arch Ellis, a principal in Coastal Life Building Group, Wilmington , one of the residential builders for Autumn Hall.

"Mean lot size will be around 5,800 to 6,000 square feet," Trask said, adding that 52 lots were sold to builders in a February lottery. "We are taking reservations from the public but won't be actively pursuing reservations until the first of the year."

Contracts can be taken on homes, but closings cannot occur until all infrastructure is complete, he said.

"You can buy a lot, but you are required to build within 24 months of purchase," Trask said. "We want people to live there. It's a community, not a speculative investment."

Ellis estimated that homes will range from 2,500 to 4,000 square feet with prices from $600,000 to about $1 million.

Phase 1, which has been approved by the city, also includes commercial development, according to Ron Satterfield, the city's planning manager.

Trask outlined the Phase I commercial development, which he said would get under way in 2008.

"We are planning on building a medical office building, some village retail … and a bank and another office building," he said, and "we're also working on a larger deal" that he would not elaborate on. The office buildings will be two to three stories, he added.

"We don't anticipate any issues with financing" on Phase 1, Trask said. "We've had a real good indication from the market that what we're doing is being well-received."

Sewer is not the only infrastructure issue faced by Autumn Hall in a section of the city that is weary of construction along nearby Military Cutoff Road and the traffic brought in by the giant Mayfaire shopping center and its expansion.

"Traffic is not only a concern for us with Autumn Hall and our properties on Military Cutoff," Trask said, "but it is a concern for everyone who lives here. We have to take some steps forward in traffic and transportation."

Pedestrian and bicycle traffic, however, may get a break. The city's multi-use path along Eastwood Road will turn away from the busy thoroughfare and be routed among trees along the development's property, Satterfield said - and will be paid for, Trask said, by Autumn Hall.