What will be on the private side of the block?

Under the new development agreement, Cape Fear Development is committing to at least $30 million in private development on the southern portion of the block, and construction would start within 24 months after the developer purchases the property from the county. 

The private development would be mixed use and include amenities that would enhance downtown livability. If multi-family housing is included, Cape Fear Development has committed to make at least 5% of the multifamily units available for workforce housing purposes for at least 10 years.

The private development will have the potential to generate additional property taxes, sales taxes and room occupancy taxes for the county.

Show All Answers

1. What is the goal of the project?
2. What is Cape Fear Development's involvement in the project?
3. What is outlined in the new development agreement?
4. How will the project be financed?
5. What would the new public facility include?
6. What services will the library have?
7. What services will the museum have?
8. What happens to the current Cape Fear Museum building?
9. Could the existing library building be renovated for the project?
10. Is parking on the block being factored into the project?
11. What will be on the private side of the block?
12. What are the benefits of a Public Private Partnership for this project?
13. What are the next steps for the project?
14. What is the history of Project Grace?