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Town of Shallotte, NC

Big City Business, Small Town Style

Shallotte Riverfront Revitalization Project

The Town of Shallotte is committed to enhancing its Central Business District as the economic, civic and cultural core of the community while activating the beautiful Shallotte River. As part of this commitment, the Town of Shallotte has contracted with the UNC School of Government's Development Finance Initiative (DFI) to conceive of and execute on a process to develop a transformative project on 20 acres of prime redevelopment land in the center of Town.Through a public participation process, the Town steering committee developed the guiding principles for the site. The guiding principles outlined below form the basic vision and expected outcome of a successful development.


The Riverfront Town Center Project should:

* Have a visible & appealing entrance

* Be pedestrian friendly

* Create a sense of place (Town Center)

* Draw people to the river

* Create a public activity center along the river

* Showcase environmentally sustainable development

* Preserve and capitalize on recent public investments

The successful team will collaborate with the Town to finalize the approved development program and design, finance, construct and operate a mixed-use project, while aligning with the guiding principles. The Town is seeking an experienced developer to execute the recommended development plan outlined in the Solicitation for Development Program. The project

totals approximately 400,000 square feet including retail, multi-family, office and hospitality components. The total project costs are an estimated $88 million including $13 million in parking and infrastructure costs.

The Riverfront Town Center site is situated in the middle of one of the fastest growing areas of the state and country (more than 3% annually). The combination of a booming population, surrounding natural assets, public participation and magnitude of project make this an attractive development opportunity.

The Town and DFI have worked together diligently to remove many barriers to the timely and cost-effective execution of a project, including conducting a four-part feasibility assessment to validate the proposed development plan based on the constraints of market demand, site conditions, stakeholder interests and financial return expectations. The details of the development plan and arrangement are laid out in the Development Solicitation document(Link is provided at the bottom of this page). Furthermore the Town has reviewed and revised the zoning requirements of the district in which the site is located in order to facilitate a successful development program.

For more information, contact Emilee Sinclair esinclair@townofshallotte.org or (910) 754-4032.



Update on the Shallotte Riverfront Development Project - June 2015

SHALLOTTE –Citizens and visitors to Shallotte are one step closer to being able to spend the day enjoying the pristine Shallotte Riverfront complete with a river walk, restaurants, retailers, office and residential space as well as outdoor adventure opportunities. The final concept plan was presented in a public forum on June 23, 2015 by the Development Finance Initiative (DFI) at the UNC-Chapel Hill School of Government. They also presented an overview of the next steps in the process. (See documents)

Project Status

DFI has completed a market analysis that demonstrates Shallotte’s ability to support additional retail, office and residential space in the Central Business District. Initial recommendations for uses and preliminary concepts have been tested through a site analysis with assistance from a team of landscape architects. After receiving input during the community forum in March, DFI has been working with the town’s steering committee and a team of landscape architects to produce a final concept and program for the Riverfront Project.

Project Background

The Riverfront Project originated from the Shallotte’s 2008 Vision Plan, which proposed a renewed focus on the Shallotte River by creating a vibrant riverfront destination complete with shopping, dining, entertainment, business and residential space. Over the last few years, the Town of Shallotte was able to purchase a significant portion of land along

Wall and Cheers Street extending to the River.

In 2014, the Town of Shallotte partnered with the Development Finance Initiative (DFI) at the UNC-Chapel Hill School of Government to manage a pre-development process for its Riverfront Revitalization Project. DFI partners with local governments to attract private investment for transformative projects by providing specialized finance and development expertise. The Town of Shallotte also established a steering committee, comprised of local government officials, to advise the pre-development process.

DFI’s pre-development process closely mirrors the process that the private sector uses in its approach to development, with an emphasis on a final product that meets both public and private sector interests. Ultimately, this process will help the Town find the right partner (or partners) to create a vibrant town center along Shallotte’s riverfront. The pre-development process involves several key components – an in-depth market analysis, public engagement, site planning and a financial feasibility analysis.

 For more information visit www.townofshallotte.org, email esinclair@townofshallotte.org or call (910) 754-4032. A link to the official solicitation for development proposals is listed below.