Thank you mortgage consultants Eleanor and Steve Thorne for providing the below “By the Numbers” report.

1. FED - The Fed’s # 7 meeting of 2007 will conclude on Wednesday (10/31/07). The Fed funds futures market is priced to reflect a 92% chance of a ¼ of 1% rate cut, a 8% chance of a ½ of 1% rate reduction, and a 0% chance of no rate cut (source: Barron’s).
2. HOME SWEET HOME - The average size (in square feet) of a new home built in the USA is 2,500 today, an increase of +47% since 1970. Bill Gates, the richest American, owns a home with 66,000 square feet (source: Money Magazine, Rocky Mountain News).
3. A FEW OWN A LOT - Americans own 40% of the globe’s wealth yet they make up less than 5% of the world’s population (source: Business Week, Census Bureau).

It seems downtown Wilmington has a lot in store for it’s future: a convention center, performing arts center, marina, condo developments… the proposed list goes on and on.

Most recently proposed is a Gateway project that would provide Wilmington’s southern downtown with a much needed make-over. This project is one of the largest proposed developments in the history of the historic riverfront area - a $150-million, 14-story, mixed-use complex with condominiums, retail, a hotel, and restaurant surrounded by a park area at the base of the Cape Fear Memorial Bridge. If approved, the target date for completion would be four years.

Fans of the proposal say it will give the southern section of downtown an economic boost and provide a better first impression of Wilmington for visitors driving in over the Cape Fear Memorial Bridge. Critics are concerned that the historic roads, many of which are brick, won’t be able to support the resulting traffic. These concerns stem from traffic challenges caused by a similar mixed-use development (Mayfaire) that opened on the other side of Wilmington prior to there being sufficient roads and infrastructure in place. Projections show that car traffic in the southern downtown area would increase from 136 car trips per day to anywhere between 11,000 and 16,000. Gateway developers say they plan to improve the roads in the area with a variety of turn lanes and traffic signals.

While it’s difficult to tell what the outcome would be, I do know that there are several certainties in Wilmington. One is that traffic is terrible. Another is that the west entryway into Wilmington is embarrassing. Between the giant Hooters billboard, the large ugly public housing towers and the homes in disrepair along Wooster, I can only imagine what visitors think upon entering our little port town. Would this proposed Gateway project be able to correct the latter without worsening the former? Or does Wilmington need to put a halt on the growth? Please tell us what you think!

Taste and Travesty: Costume Designs by William Ivey Long closes October 14th after 5 1/2 successful months at the Louise Wells Cameron Art Museum. If you haven’t had a chance to take a tour (or if you’re like me and just can’t get enough), make sure to reserve your seat for the going-away party next Saturday. This is your chance to support the arts and view the exhibition one last time before its gone!

DATE: Saturday October 13
TIME: 7:30 – 11:00 pm
LOCATION: Cameron Art Museum
(3201 S. 17th Street, Wilmington)
COST: $35 members; $50 non-members

Guests will dance the night away to DJ Scott Huckstep while noshing on appetizers and enjoying cocktails. For your convenience, you can click here to buy tickets or call 910.395.5999 x 1005.

If you can’t make the Curtain Call party, make sure to catch a tour at 11:30AM or 2:00PM Tuesday – Sunday (closing day).

I hope to see you Saturday!

The holidays are fast approaching and that means getting ready to spend quality time with your friends and family. Unfortunately, your plans can hit a bump in the road if you encounter car problems. Don’t fret, though, because keeping a close eye on your car and staying on top of maintenance can usually avoid these issues.

Please click the icon to the right for several easy preventative measures you can take and warning signs to watch for to ensure your car is running smoothly and efficiently. There is also a checklist that will reduce the need for repairs that cost time and money.

The holidays are meant to be enjoyed, so prevent car problems by maintaining your car now.