WILMINGTON, NC (WECT) - The Wilmington City Council voted Tuesday night to purchase a 1.29-acre lot on North Front Street
The lot located at 1020 North Front Street had a price tag, including legal fees, of a little over $2 million.
According to information prepared for the city council, owning the parcel "will allow the City to work collaboratively with the neighboring property on such a way as to insure that development in this area fits the community vision."
City leaders also said Tuesday night that the purchase of the property places the city in a position to influence the appearance as its one of the first pieces of property people see when coming into downtown Wilmington.
According to Tony Caudle, the assistant city manager, there is no written agreement to buy the property yet, just a general agreement by all parties.