Real estate developer College Road Development Partners (CRDP) intends to build a self-storage facility on an 8-acre lot in Wilmington, N.C. The company originally planned to develop an 88-unit apartment complex in the 2600 block of N. College Road but asked to revoke its previous rezoning request, citing the rising cost of building materials and expected changes in the local flood zone, according to the source.
The New Hanover County, N.C., Board of Commissioners was expected to begin discussing the change during scheduled meetings last week. The developer owns the property, which is near Laney High School. A market study identified self-storage as a potential alternative use. “The market study indicated that a quality temperature-controlled self-storage [facility] would be well-suited for the property,” the company wrote in its change request.
The county granted a special-use permit and the rezoning for the apartments two years ago. The revocation would revert the zoning back to a B-2 and R-15 conditional-zoning district, on which self-storage could be developed, the source reported.
CRDP originally pitched a mixed-use building with residential and commercial space in 2012 but changed those plans to just the apartment complex in 2016. The company tried to rezone the site to a B-2 conditional-zoning district last year. Though the request was recommended for approval by the planning board, commissioners rejected the proposal.
In its latest request, the company indicated the apartment project wasn’t economically feasible.
WilmingtonBiz, Self-Storage Facility Planned Instead of Apartments on North College Road