Proximity-branded Projects Progress, Secure Leases In Wilmington Area
Greater Wilmington Business Journal, Emma Dill
September 10, 2025
Work is moving ahead on three Proximity-branded projects from Cape Fear Development that together are slated to bring more than 750 new apartments to the region.
Construction is largely complete at Proximity Carolina Beach, a mixed-use project with 250 apartments and 35,000 square feet of commercial space in Carolina Beach. Meanwhile, construction is underway at Proximity Watermark, a 248-unit luxury apartment complex along the Cape Fear River, and site work recently started for Proximity Government Center, a 256-unit apartment project off College Road.
At the Carolina Beach complex, 93% of the residential units have been leased, according to Brian Eckel, a partner with Cape Fear Development, the development arm of Cape Fear Commercial. Eckel is also a co-founder of Cape Fear Commercial.
The apartment complex has a mix of studio, one-, two- and three-bedroom units with quartz countertops, stainless steel appliances and private balconies. Proximity Carolina Beach features “resort-style amenities,” including a clubhouse, saltwater pool, an outdoor fireplace and grills, a boutique fitness center, coworking and business spaces and an on-site dog park. (The pool area at Proximity Carolina Beach is shown below at right.)
According to Eckel, the apartments “filled a long-standing need for luxury living options in Carolina Beach, driving rapid leasing activity and exceeding expectations.” The project, which spans 12.5 acres with frontage on North Lake Park Boulevard, broke ground in summer 2023.
Leasing the complex’s ground-floor commercial space has also been successful. Businesses currently open include local chains K-38 Baja Mexican Grill, Boombalatti’s Homemade Ice Cream and Drift Coffee & Kitchen. Riko’s Pizza, a Connecticut-based pizzeria that specializes in thin-crust pizza and baked wings, and Noé Nail & Hair Lounge are set to open in Proximity Carolina Beach later this month.
Residential real estate firm Nest Realty and Embody Pilates, a pilates and training studio, are slated to open later this year, while an upscale coastal women’s clothing store, Reflect Boutique, is coming next summer. A lease is currently in the works with Surf N Sandwich, a West Coast-inspired sandwich shop, according to Eckel. One 3,300-square-foot restaurant space remains vacant and available for lease, he added.
Throughout the commercial leasing process, Eckel said, the Cape Fear Commercial team has focused on securing a range of businesses from dining and fitness to boutique retail to deliver a “curated, community-focused tenant mix.”
About 10 miles to the north, construction is underway on Proximity Watermark, a project located on a roughly 40-acre site once occupied by a marina. The project broke ground last fall, and the first of the project’s two four-story buildings is set for completion in January, Eckel said. The second will be completed soon after. (A rendering of the Proximity Watermark’s completed pool area and pier is shown below at left.)
The project includes a mix of one-, two- and three-bedroom floorplans, with “high-end interior finishes,” including natural wood cabinets, quartz countertops, marble-style tile, stainless steel appliances, matte black fixtures and spacious balconies.
The complex features a rooftop deck that looks out over the community’s pool and onto the Cape Fear River, along with an 800-foot-long amenitized pier that will be outfitted with two outdoor kitchens and three cabanas made out of cargo containers, Eckel said. Other amenities include a golf simulator, grilling stations, a fitness center, clubhouse, coworking space and business center, a dog park and fire pits.
Last month, crews broke ground on a new roundabout on River Road at the primary entrance to Proximity Watermark. The $2.4 million project, which is being funded by the city of Wilmington, the Riverlights community and Proximity Watermark, will help “improve traffic flow and safety” in the area, Eckel said.
Site work also began last month on Cape Fear Development’s Proximity Government Center project. The project is set to include 256 studio, one-, two- and three-bedroom units, along with a dedicated restaurant space and “elevated” amenities.
The project is the final phase of Cape Fear Development’s public-private partnership with New Hanover County. The project is located on land adjacent to the redeveloped New Hanover County Government Center, a project that wrapped up in 2022.
See this article on the Greater Wilmington Business Journal website here