The nonprofit Unique Places to Save is terminating the purchase agreement with a Mooresville real estate development company for 82 acres on Eagles Island, adjacent to the USS North Carolina battleship across from downtown Wilmington.
The Chapel Hill-based organization announced this summer plans to raise the $16 million needed to buy the parcel for conservation from Diamond Development.
Related: Nonprofit leads effort to buy Eagles Island parcel
The group put down $100,000 to secure the purchase contract and was given to the end of the year to come up with the funds. Unique Places to Save applied for a grant from the North Carolina Land and Water Fund earlier this year to help purchase the land but the organization said its grant request was not approved.
Because of a lack funding through the North Carolina Land and Water Fund, “and no other viable state or federal grants for land acquisition, the project has gone cold and there appears to be no major donors who are interested in preserving the land and therefore no viable path forward,” the Chapel Hill-based nonprofit said in a release Tuesday.
Unique Places to Save Executive Director Clark Harris said in a statement that in the weeks after the Land and Water Fund decision, the nonprofit tried to find a path forward but could not.
“We remain committed to conservation and restoration on Eagles Island,” he said.