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What will happen to the Eastbrook Apartments on Princess Place Drive?

Wayne Faulkner
StarNews

The Eastbrook Apartments on Princess Place Drive are vacant now.

The owner, the Wilmington Housing Authority, intends to apply to the N.C. Financing Agency by late January for a tax credit that, if approved, would be used to tear down the apartments and construct a senior complex owned by the authority, according to Mike Krause, CEO of the authority.

Bids for the tax incentives, however, are very competitive, he added.  In the meantime, the Housing Authority continues to entertain offers from developers for the property, Krause said.

The Housing Authority has submitted no plans to the city for the property, according to city planner Ron Satterfield.

Related link:

www.starnewsonline.com/article/20081210/ARTICLES/812100258

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