Eastern

Wilmington apartment boom continues with 228-unit project

December 24, 2014

(Greater Wilmington Business Journal)

Developers announced plans for a 228-unit apartment complex on Carolina Beach Road in Wilmington. The proposed project would consist of seven three-story buildings on 11 acres and include 3,800 square feet of commercial space.

Four tire companies looked at Brunswick

December 23, 2014

(StarNews, Wilmington)

Four tire companies have considered opening plants in Brunswick County in the last two to three years, according to Jim Bradshaw, executive director of the local economic development commission. Bradshaw said three companies cited the threat of hurricanes as reasons for locating elsewhere.

Wilmington considers business district tax

December 19, 2014

(StarNews, Wilmington)

Wilmington Downtown Inc. is mulling the creation of a downtown business district that would be taxed higher than other parts of the city to pay for improvements to the area.

New Hanover Regional reports $53M surplus

December 18, 2014

(StarNews, Wilmington)

New Hanover Regional Hospital reported an operations surplus of $53.5 million for fiscal year 2014, more than double the projected amount. 

President of Hoke Healthcare resigns

December 18, 2014

(The Fayetteville Observer)

Velvette Jones resigned earlier this month as president of Hoke Healthcare, part of Fayetteville-based Cape Fear Valley Health System. Jones was hired in fall 2013 to help launch the health system's 41-bed hospital in Hoke County, which is expected to open in February. 

First South Bank adds nine branches

December 16, 2014

(The News & Observer, Raleigh)

First South Bank completed a previously announced acquisition of nine Bank of America branches in eastern and central North Carolina. Financial terms weren't disclosed. The Washington, N.C.-based community bank now operates 35 branches, mostly in eastern N.C.

Historic Fayetteville hotel sells for $200,000

December 16, 2014

(WRAL.com)

Fayetteville's vacant Hotel Prince Charles attracted only one bid – for $200,000 – in an online auction that closed Monday. Developer David Levinson bought the hotel in 2012 and had planned to convert it into office space and 80 condominiums before damage by vandals made the project too costly.

Charleston bank acquires First Community branches in southeastern NC

December 16, 2014

(Greater Wilmington Business Journal)

Charleston, S.C.-based CresCom Bank has completed its acquisition of 13 First Community Bank branches in Columbus, Bladen and Brunswick counties and in the Myrtle Beach area in South Carolina. Virginia-based First Community Bank acquired Whiteville-based Waccamaw Bank's 16 branches in 2012 in an FDIC-aided transaction and closed three of its original branches.

Wilmington apartment sales set local record

December 15, 2014

(Greater Wilmington Business Journal)

Ten Wilmington-area apartment communities comprising 2,679 units have sold for a total of more than $240 million in the past two months, setting what may be an all-time record in transaction volume for the Port City. Nine of the transactions were part of investment-company portfolio sales.

Brunswick County businessman named chairman of NC Ports

December 12, 2014

(Greater Wilmington Business Journal)

Tom Adams, president and CEO of Ocean Isle Beach-based Adams Building and Consulting, is the new chairman of the N.C. State Ports Authority board of directors. Adams was appointed to the board in January by former House Speaker Thom Tillis. He succeeds Michael Lee, who was elected to the N.C. Senate in November.

$21M entertainment center proposed for Fort Bragg

December 12, 2014

(The Fayetteville Observer)

The Army & Air Force Exchange Service finance committee approved plans for an entertainment complex that includes a 42,000-square-foot movie theater and 40,000 square feet of dining space at Fort Bragg. The $21 million to $23 million center is scheduled to open in early 2017.

Kentucky company in talks to acquire Columbus County railroad

December 11, 2014

(The Fayetteville Observer)

A Kentucky company is close to making a deal to purchase Carolina Southern Railroad in Columbus County, which has pledged $1.8 million in economic-development incentives to the company. Commissioners in Horry County, S.C. also pledged $1.8 million for R.J. Corman Railroad Group to restore the idled rail lines.

American Airlines adds second flight from Wilmington to NYC

December 11, 2014

(StarNews, Wilmington)

American Airlines plans to add a second daily nonstop flight from Wilmington to New York City in February.

Sanderson Farms plant back on the table in Cumberland

December 11, 2014

(The Fayetteville Observer)

Cumberland County commissioners will hold a public hearing in January on whether to offer incentives for Sanderson Farms to open a $113 million chicken plant that would create about 1,000 jobs. The board informally voted against offering incentives prior to November's election, but two new commissioners have since joined the board.

Duke Energy gets federal OK in $1.2B power plant deal

December 10, 2014

(The News & Observer, Raleigh)

Federal regulators approved a $1.2 billion deal that will allow Duke Energy Progress to buy back four power plants that supply electricity to 32 towns in central and eastern N.C. The towns took on $3.6 billion in debt to buy minority stakes in the power plants in 1982, and their customers have paid an average of $240 to $600 more a year for electricity than Duke Progress customers (Statewide, September).

Three eastern NC hospitals in talks to form joint venture

December 9, 2014

(The Daily News, Jacksonville)

Onslow Memorial Hospital has entered into exclusive negotiations with Greenville-based Vidant Health and New Bern-based CarolinaEast Health System to discuss forming a partnership that will allow patients access to more providers and services.

Wilmington's Envision Mortgage to merge with Raleigh's North State Bank

December 9, 2014

(Greater Wilmington Business Journal)

Wilmington-based Envision Mortgage will merge with Raleigh-based North State Bank Mortgage. Financial terms of the deal, which is expected to close Dec. 31, were not disclosed. North State Bank has seven offices in New Hanover and Wake counties.

Wilmington plans waterfront improvements

December 9, 2014

(StarNews, Wilmington)

The city of Wilmington held a public workshop to help prioritize projects proposed as part of its Waterfront Improvement Plan. Potential projects include an urban park, reconstruction of a section of the city's river walk and public art.

New Hanover county manager supports sales-tax increase

December 8, 2014

(Greater Wilmington Business Journal)

New Hanover County Manager Chris Coudriet believes a temporary quarter-cent sales-tax increase would boost economic-development efforts in the Wilmington area by creating a sustainable fund for recruiting new business.

NC State's sale of Hofmann Forest is canceled

December 8, 2014

(The News & Observer, Raleigh)

N.C. State's controversial plan to sell its 79,000-acre research forest has fallen through because the buyers were unable to secure financing for the $131 million deal. Chancellor Randy Woodson said the university will likely try to find another buyer for Hofmann Forest, which is in Onslow and Jones counties.