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Robert Buccini talks about the need for strong government partners to make a project like the Press succeed in Wilmington. | DBT PHOTO BY KATIE TABELING[/caption]
WILMINGTON — One year out from its promised open date, the Buccini/Pollin Group (BPG) and Wilmington officials celebrated raising the final beam on the latest apartment complex constructed by the developers that have been the driving force behind Wilmington’s construction boom on Wednesday.
The installation of that beam, signed by BPG staff and Wilmington officials and business leaders, signals that structural work is now complete on the Press, a $90 million luxury apartment complex on the corner of 8th and Orange streets. The Press will include 243 units, replacing a parking lot that is next door from other BPG projects like The Residences at Mid-Town Park and MKT Place.
Unlike those projects, The Press stands out with a 14-story glass tower, much like its Crosby Hill complex which opened in 2023. Next to the tower is a four-story brick building along 8th Street with two-story duplexes. The next phases of this project will include another residential tower Tatnall Street and townhomes on Girard Street.
The complex will also include amenity space like a pool, dog run, grill areas and a landscaped park for residents to enjoy.
The Press honors the site’s roots for The News Journal newspaper. But for many gathered at the construction site on Wednesday morning, the complex signals a changing direction for Delaware’s largest city that has seen top companies like DuPont, Bank of America, MBNA and others exit its borders.
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The Press, a 243-unit complex that features a glass tower, recently finished its foundation. The apartment complex marks one of many projects by BPG targeted to bring more residents to Wilmington. | PHOTO COURTESY OF BPG/PHOTO BY MOONLOOP PHOTOGRAPHY[/caption]
“Today’s another celebration of progress,” said Mike Hare, the executive vice president of development for BPG. “I’m old enough to remember the business vibrancy of Tatnell Street, and so it’s extraordinary that we can recapture this vacant lot and provide a new place for residents to come help this city grow.”
Wilmington Mayor Mike Purzycki told the Delaware Business Times that during his years in city politics, he’s noticed with the departure of the chemical and credit card companies and said the city is now at a crossroads with its identity even though he says that crime is at a 22 year low.
“It’s almost like our swagger is gone when the MBNAs had gone with it,” Purzycki told DBT. “But I do think our city is evolving from those identities, and there was a downside to internalizing those identities, because that created a culture that wasn’t very creative. What’s taking place is that with remote work, young people who want to express themselves can work and live anywhere.”
BPG has been heavily invested in Wilmington’s future, as the Philadelphia Business Journal reported last fall that the firm had spent close to $350 million on 16 developments in the city. As the years passed, the company has also invested in the Philadelphia market and most recently have concentrated on Pittsburgh.
But Robert Buccini, co-founder and co-president of BPG, indicated that the company is still invested in Wilmington’s future, one he saw when BPG first started turning its attention to the city in 2000.Â
BPG currently has 700 more apartments in the pipeline and representatives say that 65% of its residents are new to Wilmington.
“You can build the best building to live in, and if it’s not a comfortable environment, no one will want to stay. So I’m thankful for what the city’s done in terms of the quality of life to help make that happen,” Buccini said. “If we don’t make the investments in the coffee shops, the Incytes of the world won't come. And if it’s not for the leadership to make this a pro-business environment, there’s no companies that move here and no one to move here. You have really figured out how to make it work, and it’s inspiring.”
