Riverfront Development Corporation - Delaware Business Times

Megan McGlinchey, executive director of the RDC, unveils plans for phase one of Riverfront East on Friday. | DBT PHOTO BY JACOB OWENS May 2021

Government, New Castle County, News, Residential Real Estate

RDC aims focus on Riverfront East with bond request

Katie Tabeling March 29, 2023

The Riverfront Development Corporation is seeking to continue steady progress on its sweeping Riverfront East redevelopment project, and is seeking state funding to continue its work.

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Commercial Real Estate, Economic Development, Hospitality & Entertainment, New Castle County, News

Blue Rocks extend Wilmington lease to 2030

Jacob Owens January 11, 2023

WILMINGTON – Two years after worries that Delaware might lose its longtime Minor League Baseball team amid a nationwide restructuring, the city can breathe easier after the Blue Rocks extended […]

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Commercial Real Estate, Economic Development, Government, Hospitality & Entertainment, Insider Only, New Castle County, News

🔒 🔒 Frawley Stadium owner merges with RDC

Jacob Owens October 20, 2022

WILMINGTON – The Delaware Stadium Corporation (DSC), which has owned and operated the Frawley Stadium minor league ballpark in Wilmington since it opened in 1993, has started a new chapter […]

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Commercial Real Estate, Economic Development, Insider Only, New Castle County, News, Residential Real Estate

🔒 🔒 Pa. firm plans new apartments in Riverfront East

Jacob Owens March 25, 2022

WILMINGTON – A Philadelphia-area real estate development firm recently bought more than 3 acres of land just south of the Market Street Bridge with plans to build nearly 200 upscale […]

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Commercial Real Estate, News

CSC opens high-tech hallmark CSC Station on the Riverfront

Pam George May 27, 2021

WILMINGTON — When the Riverfront Development Corporation was formed in 1996, the group leased space in the Pennsylvania Railroad Building, a 43,311-square-foot, six-story red brick structure fronting the Christina River […]

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Megan McGlinchey, executive director of the RDC, unveils plans for phase one of Riverfront East on Friday. | DBT PHOTO BY JACOB OWENSMay 2021

Megan McGlinchey, executive director of the RDC, unveils plans for phase one of Riverfront East in May 2021. | DBT PHOTO BY JACOB OWENS[/caption] DOVER — The Riverfront Development Corporation is seeking to continue steady progress on its sweeping Riverfront East redevelopment project, and is seeking $10.5 million in capital funding from the legislature to do it. “As we enter the 27th year of operations, the RDC has never felt better about the progress we’ve made along the Riverfront and the results that we’ve achieved for the state,” RDC Executive Director Megan McGlinchey said. “We’re proud of how far we’ve come and look forward to even more exciting results in our future.” McGlinchey spoke before the state legislature’s Joint Capital Improvement Committee on March 22. This committee hears capital budget requests from various agencies as they mull over the final budget and bond bills to ultimately send to the full legislature. Gov. John Carney has allocated $6.5 million in his proposed bond bill to the RDC, a public-private partnership devoted to reviving Wilmington’s waterfront. Chief among the RDC’s requests was $4 million for its $100 million, years-long plan to revive the “other side” of the Christina River: Riverfront East. The entire project covers 86 acres of the South Market Street corridor that borders the Southbridge community. In all, Riverfront East is planned to include 1.9 million square feet of office space, over 4,000 residential units, 350,000 square feet of retail space, almost 9,000 structured parking spaces and 650 on-street parking spaces. It will also have more than 13 acres of open space and common areas for recreation and entertainment. “This is our big project, our ambitious project. For the past two years, we’ve been focused on acquiring property within all areas, designing the infrastructure improvements in one area specifically,” McGlinchey said. That area covers the riverbank to South Market Street and from A Street to South Second Street. Improvements slated include: new road network, a section of the Riverwalk, a dedicated bike lane, a signalized intersection at Eighth Street and utility relocation. The entire cost is estimated at $30 million, and the Delaware Department of Transportation has allocated funding for some road projects. The RDC hopes to begin construction on Riverfront East in 2023. About 80% of the property in phase one has been bought by the RDC at this point. Another key project in Riverfront East includes a central green, a 2-acre park in the middle of phase one. McGlinchey said a portion of the requested $10.5 million would help pay for design work of this park. The RDC is also seeking $1 million for Riverfront West, or the existing side of the Riverfront that the organization has successfully focused its efforts on for a quarter of a century. Among other requests include $500,000 for the Frawley Stadium, which the RDC took over operations in September 2022. Since then, the RDC has overseen the second phase of renovations to bring the player areas up to current minor league baseball standards – paid through roughly $1 million from two previous bond bills. McGlinchey also highlighted key projects on the horizon for the RDC, like the Luxor and Riverhouse apartments. Luxor will bring 193 upscale apartment units to market in the third phase of Riverfront East, built by Westrum Development Company of Pennsylvania. Riverhouse is a 300-unit complex built by Washington Place Equities of Maryland, and is planned to open this fall. Another mixed-use development project is in the works for Beech Street, headed by Big Fish Restaurant Group and Pennsylvania-based Onix Group. The building will include two ground-floor restaurants and 216 apartments, projected to be completed by late 2024.