New Hanover community welcomes first build-to-rent neighborhood

Megan Pociask, Wilmington StarNews
·2 min read

After more than two years of construction, Wilmington's first build-for-rent neighborhood is open.

More than 200 cottages are now available within a 120-acre mixed use village at the southern end of the Riverlights community after officials held a ribbon cutting ceremony on Wednesday.

The Cottages at Riverlights, located at 406 Ledbury Road, will take up 21 acres.

Birmingham-based real estate firm Capstone Communities partnered with Newland Real Estate Group to bring the community to life.

“The cottages are one of a kind to Wilmington. You’ve got your private back yards, homes without anyone else above or below you and you’ve got walkability throughout the neighborhood,” said Jim Beatty, vice president of Capstone Communities.

According to the developers, the neighborhood is specifically designed to cater to young professionals, empty-nesters and those looking to rent instead of buy.

Since the summer of 2021, crews have been constructing 279 cottages that vary from one-, two- and three-bedrooms, as well as one-bedroom lofts. The cottages range from around 600 to 1,300 square feet.

The Cottages at Riverlights held a ribbon cutting ceremony to celebrate the opening of Wilmington’s first build-for-rent neighborhood off Ledbury Road inside the Riverlights community on Wednesday.
The Cottages at Riverlights held a ribbon cutting ceremony to celebrate the opening of Wilmington’s first build-for-rent neighborhood off Ledbury Road inside the Riverlights community on Wednesday.

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In addition to the private backyards, neighborhood amenities include a 24-hour clubhouse, a resort-style pool, fitness center, a dog park, community fire pits, smart home technology and greenspace.

The completed neighborhood is part of a larger project within the Riverlights community. The opposite end of the community is home to a mix of commercial and residential space in Marina Village, situated along the Cape Fear River.

“Much of our vision for the southern end is to have something similar to Marina Village. In fact, the site across the street is envisioned to have up to 5,000 square feet of commercial and retail opportunities,” said Nick Cassala, vice president of operations at Riverlights.

This article originally appeared on Wilmington StarNews: Riverlights in Wilmington opens build-for-rent neighborhood