Washington Place Equities of Baltimore has announced plans to build apartments in South Wilmington, Delaware. This $32 million development project will be the first of its type in years for the Southbridge neighborhood.
By mid-2021, the developer expects to have 150-units open and 300 more units shortly after.
The Vice President of Washington Place Equities, Dominic Wiker said the area will appeal to “people looking for a different type of location.” The property, which is in an opportunity zone, is close to the city’s train station, to the river’s edge, and to what will be the area’s newest park.
Wiker and his company were interested in this location because he foresees growth in Wilmington and cities in southcentral Pennsylvania, which he referred to as “middle-market-cities.”
Development projects continue to pop up in Wilmington, Delaware throughout the years. In February of 2018, Wilmington’s historic Hotel DuPont received $400,000 in renovations in an effort to attract more travelers to the region.