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The Wilmington Rail Realignment Task Force

 

The Wilmington Rail Realignment Task Force

In early June, the Wilmington Rail Realignment Task Force presented to City Council members the initial results of a feasibility study that noted it found no ‘fatal flaw’ in the proposal. This report signals that the reality of a major rail realignment for freight and a trolley system is now about funding and political will.

Only a dream in 2015, the idea was introduced by former Wilmington Councilperson and Chairwoman of the task force, Laura Padgett. The task force is hoping to accomplish two goals, the first being to reduce freight time into and from the port, and the second would be converting the old rail to trolley lines, enhancing the quality of life for residents, visitors, and businesses along those corridors. Excited to learn more, Cape Fear Realtors® staff met with Laura Padgett and representatives of non-profit workforce housing organizations to discuss the Trolley line in downtown Wilmington and its potential impact on residential and commercial development. Citizens will hopefully be interested in learning more too. The Cape Fear Realtors® could assist, seeking a grant to fund a charrette, a public meeting to invite neighbors and stakeholders along the southern end of the proposed route to be part of the project development. This particular area has much potential.

A regional planning grant looked at opportunities along South 5th Avenue and Greenfield Street, to leverage the existing assets, how to bring more jobs, and to create vitality, as well as maintain the affordable housing stock and neighborhood character. It is a tricky balance.

All great ideas need a budget. “Financially, the best case scenario is that the project comes in at the low end of the budget, under $500 million. Padgett hopes private investment of $100-150 million could bring the project well into the budget range of state and federal Departments of Transportation. The theory, according to Padgett, is that that CSX’s Davis rail yard in Navassa would see increased business; this might entice the company to help invest in a relocated rail-line,” reported the Port City Daily News.

 

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You are here: Home Appraiser Courses Uncategorized The Wilmington Rail Realignment Task Force