Demolished Downtown Site Sold for Millions

JUNE 6, 2005 -- One of the most valuable pieces of property in downtown Wilmington is changing hands.

Some time ago, workers demolished the site of an 1840's ice house on Water Street.

Developer Todd Tacomis wanted to build a five story residential and commercial building. However, he couldn't get a permit from the city.

Tacomis sold the land for about $2 million to Wilmington legal partners Kathleen and Michael Glancy.

They will reveal how they plan to use the property this summer.

Meanwhile, Tacomis said he is not dropping a lawsuit against the city for blocking his original plan.