WILMINGTON — The developer of downtown Wilmington’s luxury mixed-use River Place development is moving towards a deal to add a Dollar General to the other commercial tenants of the building.
Developer East West Partners appears close to finalizing a deal with Dolgencorp, LLC, a subsidiary of Dollar General which operates discount retail stores, according to city emails.
Because of the public-private partnership between the developers and the City of Wilmington, the city is technically asked to acknowledge both East West and Dolgencorp, as ‘sublandlord’ and ‘subtenant’ respectively, but has no role in the negotiations.
Dollar General would join Axis Fitness, as well as a locally-owned Mellow Mushroom franchise and a steak and seafood restaurant from Circa 1922 owner Ash Aziz.
The $83 million dollar project was beleaguered by cost overruns, ultimately costing the city millions more than it has initially planned to invest, along with several costly eminent domain lawsuits that cost the city over $300,000.
Despite setbacks and budget problems, the project has already started welcoming residents to its luxury condos, including Wilmington City Councilman Kevin O’Grady, who sat out many debates about the project after he signed a lease several years ago. Mayor Pro-Tem Margaret Haynes also recused herself from all River Place-related votes, but never directly answered whether or not she too had signed a lease.
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June 21, 2020 at 05:00PM
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Developer negotiating to put a Dollar General in downtown Wilmington's River Place project - Port City Daily
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