The Village at Mayfaire is the First Residential Community to Break Ground in Wilmington’s Innovative Mayfaire

WILMINGTON – State Street Companies, Inc., a Charlotte-based development firm, has broken ground on the first 32 condominiums in Phase I of The Village at Mayfaire, a 31-acre, 208-unit residential condominium community designed to challenge the conventional suburb. The condominiums (Phase I of which is expected to be completed in August 2004) are the first residential project under construction for Mayfaire, a new 394-acre mixed-use development on Military Cutoff and Eastwood Roads in Wilmington. When complete, Mayfaire will include residential, office, retail, parks and undisturbed natural areas.

The master plan for the Mayfaire development was designed to emulate the traditional sense of community exemplified in such renowned developments as Reston Town Center in Reston, VA and Disney’s Celebration near Orlando, FL. The mixed-use community will provide residents with recreational facilities, a business park, 130 acres of green space and parks, and a unique Town Center including shops, restaurants, entertainment venues and luxury hotels.

Mayfaire’s residential offerings include three neighborhoods: The Village at Mayfaire condominiums; Parkside, a single-family home community with 105 home sites and The Reserve at Mayfaire, a 264-unit upscale apartment community.
“We believe people are going to find that Mayfaire offers them comfort, convenience and community,” says Jeff Kentner, President of State Street Companies, Inc. “Our goal with The Village at Mayfaire is to create a community that encourages the type of interaction once found in small villages, and to set a new, higher standard for multi-family development in southeastern North Carolina.

The Village at Mayfaire is the first component of the Mayfaire project to launch its marketing efforts, and we are generating a great deal of interest from both local residents and second-home buyers.”

The main entry to The Village at Mayfaire is off of Military Cutoff Road, a mile from The Forum retail center and 2.5 miles from Wrightsville Beach. Unlike many residential developments, The Village at Mayfaire is constructing its amenities first, insuring new residents immediate access to the property’s numerous recreational activities. Amenities include a 5,525 square foot clubhouse comprised of a great room and billiards room for resident entertaining; 24-hour cardio center and weight lifting area; fully-equipped culinary/catering kitchen; business center; conference/gaming room; aerobics and yoga room and 25-seat movie theatre and multi-media room. Outdoors, residents will enjoy a junior Olympic size pool with 75-foot lap lanes, 18,000 square foot sunning deck, outdoor heated spa, stainless gas barbecue grill area, lighted tennis courts, residents' picnic pavilion and a car care center.

In addition to the property’s on-site amenities, residents will have immediate access to one of its most distinctive features – The Mayfaire Town Center. Located just 1/2 mile from The Village at Mayfaire, the Town Center is designed to become a regional destination for upscale retail services. Here, residents can walk, browse and shop among national and local merchants and restaurants along a traditional “Main Street.” Construction on Phase I of the Town Center, which is being developed separately by Brody Zimmer, LLC, is underway and is scheduled to open by spring of 2004.

The Village at Mayfaire is comprised of 13 three-story buildings consisting of 16 condominiums each. Architectural details include metal hip roofs, iron railings, and brick and shake exteriors in pastel yellows, greens and apricots. A central elevator and five stairwells offer convenient access to each residence. The two- and three-bedroom homes range from 1,260 to 2,037 square feet and feature nine-foot ceilings, spacious walk-in closets, French doors opening onto private terraces and large master suites with baths that include double lavatories, garden tubs and separate shower enclosures. Terraces range from 86 to 225 square feet, depending on the floor plan. Upon request, a unique 2,520 square foot townhome plan is available with three bedrooms, three and one half baths and a den/media room.

The U-shaped buildings wrap around a circular autocourt where each homeowner has one secured garage and one additional private parking space behind the garage. Ample guest parking is available throughout the community. The upscale residences overlook beautifully landscaped green space interspersed with small ponds and a trail system winding through the Mayfaire property.

“One unique aspect of this property that we’re particularly proud of is the private terrace that comes with each home,” said Bryan Williams, Director of Sales for The Village at Mayfaire. “The concept of the ‘outdoor living room’ allows residents to enjoy the coastal atmosphere while feeling part of a vibrant community. Since we first opened our Sales Center, the response has been overwhelming. We’ve found that the demand is very high for upscale condominiums that offer both a sense of community and extensive amenities. Our buyers tell us we’re an affordable alternative to the beach, offering them quick access to the water and a carefree and maintenance-free lifestyle.”
Buyers can select from seven floor plan designs and can customize their home with nine paint color options, choices of floor finishes, cabinetry, countertops, appliances and lighting fixtures. Prices for the condominiums range from $225,000 to $430,000.

The Village at Mayfaire is developed by State Street Companies, Inc. and its affiliates. State Street is a full service, vertically integrated real estate organization with specific expertise in the construction and development of luxury multifamily residential communities.