12 downtown revitalization projects get $5.5 million in rebates
The Delaware State Housing Authority has selected 12 downtown revitalization projects in Milford, Smyrna and Wilmington to receive $5.5 million in rebates aimed at leveraging $103 million in total investment.
The Downtown Development Districts (DDD) program was launched in 2014 to help draw investment to under served commercial business districts. Over the past four years, $31.6 million in rebates have leveraged $597 million in private investment in all three counties.
“This latest round of Downtown Development Districts funding will continue our commitment to revitalizing our downtown business districts and surrounding neighborhoods,” said Gov. John Carney. “These investments are a vital tool in our economic development toolbox and will have a long-term impact on these communities.”
Investments eligible for DDD rebate funds include capital investments on rehabilitation, expansion or new construction for commercial, industrial, residential or mixed-use buildings within the district boundaries. Rebates are issued after the project is completed.
“DSHA is pleased to support these new projects that will renovate empty and vacant buildings, create homes, and bring businesses and jobs to our downtowns,” said Anas Ben Addi, Director of the Delaware State Housing Authority. “Community development is central to our mission, and we are encouraged by the continued strong interest in the Downtown Development District program in all eight districts.”
All 12 projects include:
- Benvenuto LLC plans to use a DDD large project reservation award for extensive renovations of the restaurant building at 249 NE Front Street.
- Mispillion Street Partners LLC plans to construct four 12-unit condominium buildings (48 total units) to be situated along the Mispillion River at 401 Mispillion Street.
- Shadaw Enterprises LLC plans to completely restore and fit out the former Metal Masters/Harris Manufacturing plant located at 655 Glenwood Avenue.
- 9th and Tatnall LLC plans to construct a new building housing 34 apartment units and two ground floor retail spaces on the southeastern corner of North Tatnall Street and West 9th Street.
- The investor has assembled seven parcels (226 West 9th Street, 836, 838, 840, 842 and 844 North Tatnall Street and 11 Girard Street) with the plan to demolish a fire-damaged central portion of one of the consolidated parcels and part of a garage complex facing onto Girard Street in order to construct the new building.
- 105 West 7th LLC plans to demolish three existing vacant buildings (103, 105 and 109 West 7th Street) and construct a new building containing 30 market-rate multifamily units with six units on each of five floors.
- 210 Market Cooper LLC plans to create a mixed-use, ground-up development on the 200 block of N. Market Street. The project will consist of the demolition (some facades exempted) of the existing structures at 206, 210, 212, 214 and 216 N. Market St. as well as 221 and 225 N. King Street. The development will include 90 market-rate apartment units as well as ground floor retail space and parking.
- 627 Market LLC plans to fit-out the retail space at 627 N. Market Street for a modern Chinese food concept restaurant called Tom’s Dim Sum. The investor previously used a DDD reservation for the renovation of the apartments and general work done on the façade of the building.
- 901 Market Associates LLC plans to renovate the Market Tower Building at 901 N. Market Street to create studio, one and two bedroom apartments totaling 68 units over 11 floors. Floors one through three will be renovated into new functional commercial and retail space totaling over 16,000 square feet.
- BPG Real Estate Services LLC plans to renovate the existing retail space at 838 N. Market Street in order to fit out the space for the installation of a bank branch at the site. The project will also include substantial work on the exterior of the building in order to create an appropriate entrance and signage for the branch.
- Quaker Arts LLC plans to upgrade four existing buildings (708-710, 801, 816 and 822 West Street) into 53 apartments with a preference for artists. The four existing buildings will be converted into affordable housing for individuals and families with incomes ranging between 30 and 80 percent of Area Median Income.
- The Mill – Wilmington LLC plans to further grow The Mill co-working space located within the Nemours Building at 1007 N. Orange Street by 10,000 additional square feet. The current space will be rehabbed to meet the needs of the project.
- The Warner 927 LLC plans to renovate the building at the corner of 10th and Orange Streets. The property is a multifamily mixed-use building that was constructed in 1923.