Anyone who’s driven Market Street near Kerr Avenue this year has noticed the change. The old one-story North 17 shopping center is gone, and a five-story building is starting to rise in its place. It’s called The Grove on Market, and it’s one of the clearest signs yet of how Wilmington’s older commercial corridors are being rebuilt with homes on top of shops.
Here’s what’s being built, when it’s expected to open, and what we at Aspyre Collective think it means for homeowners, buyers, sellers, and investors in this part of New Hanover County.
What’s Being Built at 4302 Market Street
The Greater Wilmington Business Journal reported on Sept. 29, 2026 that vertical construction is underway on the redevelopment of the former North 17 center at 4302 Market St. The developer, Quantum Real Estate, plans:
- A five-story mixed-use building
- About 12,000 square feet of ground-floor retail and restaurant space
- 55 apartments on the floors above
- A target completion of fall 2027
Quantum bought the roughly 1.6-acre site in January 2025, according to property records cited by the Business Journal, and Harold K. Jordan & Co. is the contractor. Demolition of the 1954 shopping center wrapped up earlier this year.
A familiar name is coming back
For a lot of longtime locals, the headline is pizza. Elizabeth’s Pizza, a tenant of the old center since 1987, closed in 2023 after storm damage. The StarNews reported on Feb. 21, 2026 that the developer confirmed it will return to the new building, possibly opening in fall 2027. Talks with other former tenants were underway, but no other plans had been finalized.
Why This Project Matters Beyond One Corner
Market Street is one of Wilmington’s main arteries, and much of it is lined with aging, single-story retail built for a car-first era. The Grove on Market is a test of a different model: more homes, shops at street level, and a busier, more walkable feel on a parcel that used to be a strip center. The City of Wilmington has also studied this corridor in its Market Street Corridor Plan, which is worth a look if you own property nearby.
If this project leases well, it’s reasonable to expect more owners of older Market Street sites to consider similar redevelopment over time. That’s not a promise, just a pattern we’ve seen play out in growing coastal cities.
What It Means for Nearby Homeowners
Potential upsides
- New places to eat and shop. Ground-floor restaurants and stores close to home are the kind of convenience many buyers look for.
- A refreshed streetscape. Replacing a dated, vacant-feeling site with new construction generally improves how a corner looks and feels.
- Neighborhood appeal. Homes within an easy walk or short drive of new amenities often get more buyer interest, though no one can promise a specific effect on value.
Things to keep in mind
- Construction through 2027. Expect lane work, trucks, and noise near the intersection while the building goes up.
- More traffic at a busy corner. Fifty-five apartments plus restaurants will add trips at Market and Kerr.
- Height. A five-story building is a big change from what stood there for decades, especially for homes with sight lines toward Market Street.
What It Means for Buyers
If you’re shopping for a home in the middle of Wilmington, the Market Street and Kerr Avenue area puts you close to UNCW, Midtown, and quick routes toward Wrightsville Beach and downtown. When you look at homes near any active redevelopment site, it helps to:
- Drive the area at rush hour and on a weekend evening.
- Look up nearby parcels on the New Hanover County property records and the city’s development maps to see what else is planned.
- Ask how close the home is to the construction zone and what the expected timeline is.
If you like this part of town, our Midtown Wilmington neighborhood guide covers the nearby neighborhoods in more detail.
What It Means for Sellers and Investors
Sellers near the project can point to something real: a named project, a known opening target, and a beloved local restaurant on the way back. Mention it in your listing, but stick to the facts that have been reported rather than predictions.
For investors, the bigger context is rental supply. A Wilmington News report from Oct. 26, 2026, citing a Lee & Associates multifamily report, put Wilmington apartment vacancy at 11.2%, down from 17.0% a year earlier, with the metro’s construction pipeline easing from its peak. New apartments still compete with single-family rentals, so run your numbers carefully. Our long-term rental investor guide walks through the basics.
Frequently Asked Questions
When will The Grove on Market open?
The developer is targeting fall 2027, according to the Business Journal. Construction timelines can shift, so treat that as a goal rather than a fixed date.
How many apartments will it have?
About 55 apartments above roughly 12,000 square feet of retail and restaurant space.
Is Elizabeth’s Pizza really coming back?
Yes. The developer confirmed to the StarNews that Elizabeth’s Pizza will return, possibly opening in fall 2027.
Will this raise home values nearby?
Nobody can say for sure. New amenities often help a neighborhood’s appeal, but values depend on the whole market, the specific home, and many other factors.
Thinking About Buying or Selling in Central Wilmington?
Projects like this change how a neighborhood feels, and that matters whether you’re buying your first home, selling one you’ve loved for years, or adding a rental. Talk with Aspyre Collective and we’ll help you understand what’s happening around any home you’re considering.
