2929 Market Street is a 4.08-acre site rezoned and approved for 120 multifamily units, two miles from downtown Wilmington. In September 2025, Wilmington City Council rezoned the 4.08-acre parcel from O&I to MD-17(CD), High-Density Multiple Dwelling Conditional District, approving a 120-unit, four-story residential development (Ordinance CD-2-825). The zoning approval runs with the land — the next owner steps into an approved density that took a full public rezoning process to secure, with Technical Review Committee (TRC) site plan approval and permits as the remaining steps.
The offering includes a substantial third-party diligence package assembled for the prior development effort, including a 2025 Phase I ESA, geotechnical report, preliminary ALTA/NSPS survey, LIHTC/TEB market study prepared for NCHFA, as-surveyed legal description, and signed rezoning ordinance. These materials may reduce a buyer's initial diligence time and cost, subject to independent verification, report updates, and reliance rights.
Vandan Gandhi, CCIM
KW Commercial
