[caption id="attachment_211823" align="alignright" width="479"] A rendering of Crosby Hill, highlighting the main 11-story building. | PHOTO BY NILES BOLTON ASSOCIATES COURTESY OF BUCCINI/POLLIN GROUP[/caption]
WILMINGTON – An often empty parking lot in Wilmington’s Central Business District will get a second lease on life as a new multi-family apartment complex set to open in late 2022. The Buccini/Pollin Group (BPG) was joined by Mayor Mike Purzycki and other city officials on Thursday, May 20, to announce Crosby Hill, an upscale 203-unit complex located at 517 Shipley St.Designed by Niles Bolton Associates, the $62 million complex includes two 4-story buildings and one 11-story building. A private parking garage with 124 parking spots will be located underground for residents. The building will also feature a fitness center and a penthouse club room on the 11th floor, which will provide unparalleled views of the city and river. The name Crosby Hill pays tribute to the Crosby and Hill Department Store that prominently served Wilmington from 1878 to 1960 at 605 Market St. While the majority of development in recent years has been concentrated on Market Street, Crosby Hill marks a significant move westward to widen the core of the central business district in downtown Wilmington. Prior to demolition, the site was originally a standard parking lot. Crosby Hill will relocate the parking underground and bring an estimated 400 people to Shipley Street, which impacts the broader strategy to build critical mass and broaden the downtown district.“Wilmington is an inspiring collection of diverse, livable neighborhoods,” Wilmington Mayor Mike Purzycki said. “In more recent years, we’ve seen a remarkable growth of housing options in the downtown neighborhood largely because of the unprecedented investment of our partners at BPG who continue to demonstrate their deep affection and support for Wilmington.”
[caption id="attachment_211825" align="aligncenter" width="1024"] Wilmington Mayor Mike Purzycki discussing the tremendous growth the city has seen in recent years, due largely to the commitment BPG has shown for the city. | DBT FILE PHOTO BY MIKE ROCHELEAU[/caption]
“[The] Crosby Hill announcement was possible because Wilmington is not only a great place to live, work, raise a family and have fun, but more and more people believe in this mantra and are staking a claim in our city’s future,” Purzycki continued.To date, BPG has brought over 1,900 units to the residential market in Wilmington and has another 500 units under development or construction, including Crosby Hill. In March 2020, BPG opened 13 units on Market Street at 713 MKT. In September 2020, BPG opened the first living experience in the DuPont Building with the new 198-unit community at 101 dupont place. In April 2021, they welcomed the first residents to The Cooper, a 92-unit community on Market Street. Despite the pandemic, BPG’s residential portfolio sits above 92% occupancy across the board, reinforcing the company’s confidence in the area’s residential market. BPG Co-President Rob Buccini said that Crosby Hill symbolizes the company’s belief in Wilmington’s growth as a play to live and do business.
[caption id="attachment_211824" align="aligncenter" width="1024"] Buccini/Pollin Group co-president Rob Buccini speaking at the announcement of the Crosby Hill. BPG has maintained a 92% occupancy in their residential buildings through the pandemic. | PHOTO BY MOONLOOP PHOTOGRAPHY COURTESY OF BUCCINI/POLLIN GROUP[/caption]
“When we opened our first building The Residences at Rodney Square in 2003, we had a harder time leasing the building when there were only 280 available units in Downtown Wilmington than we do now with over 1,900 units,” Buccini said. “ We have a blueprint for success here, and it has been shown to us time and time again that as we bring more people to live in Wilmington, it becomes that much easier to attract new residents, businesses, and visitors to our great city.”