WILMINGTON -- Hundreds of untouched acres along the Cape Fear River will soon be the site of a residential and commercial community.
In 2005 Newland Communities bought property off River Road in New Hanover County with plans to build a 1,400-acre community call RiverLights.
"This is the largest undeveloped track left in New Hanover County," said Livian Jones, VP of Operations for RiverLights.
After 10 years and being voluntarily annexed by the City of Wilmington, work has finally started.
"The economy has picked back up, and we feel like it's the right time," said Jones. "We're very optimistic about the economy and people moving into this area."
The more than $100 million community offers around 2,300 home sites and up to one million square feet of commercial-retail space. Public amenities include a marina, boardwalk, trail system around a 30-acre lake and event space.
The developer is also paying to reroute three miles of River Road to ensure the community connects with the wetlands and river.
"We want people to come and stay, and we want people to come and visit the Riverwalk. There's really nowhere else except for downtown where you can come and sit on a nice boardwalk and enjoy what the river has for our area," said Jones.
Wilmington annexed the tract of land in 2009. Mayor Pro-Tem Margaret Haynes said the investment will benefit everyone.
"Bringing all that additional tax revenue into the city is what helps to keep tax rates low for all the rest of us," said Haynes.
The grand opening for the community is set for the summer of 2016.
The community will have a designated subdivision for people ages 55 and older. Home prices will start in the low 200s.