Small NC city gets more investment with 303-home project – The Business Journals
Another big residential development is coming to Goldsboro.
The city is scheduled to conduct a public hearing Oct. 17 on the potential annexation of Magnolia Grove, a new subdivision planned along 11th Street just north of downtown.
On the land is a planned 303-home subdivision called Magnolia Grove. The land was rezoned back in October 2019 to allow for development of the subdivision and now is seeking annexation into Goldsboro.
The land is owned by KG Plaza LLC, a business which lists Wilmington developer Jack Carlisle as its managing member. The application was scarce on details and did not include information about what kinds of homes would be built on the land, and Carlisle did not respond to a request for comment about Magnolia Grove.
Like other small North Carolina towns and cities, Goldsboro – which sits about an hour southeast of Raleigh – is battling a declining population as residents flock to urban and suburban locales. The city of roughly 33,600 saw its population drop by 7.6 percent between 2010 and 2020, according to U.S. Census data.
There are signs that trend could be reversing, however, as the city has attracted some big investments recently from residential developers. Projects that have made their way before the City Council this year include a 312-unit apartment complex, a duplex community that could have up to 100 units and a 107-townhome community.
Evan Hoopfer covers real estate and economic development in the Greater Triangle, focusing on the counties outside Wake and Durham. Have a tip? Reach him at email@example.com or (919) 327-1012.