The Flats neighborhood, was developed more than hundred years ago by what was then known as the Woodlawn Company (later the Woodlawn Trustees), has long been a landmark neighborhood.
The affordable housing community is well known for being family-oriented and neatly maintained, but has seen aging housing and wear and tear take their toll This first phase of the project, which will cost approximately $15.5 million and is scheduled to be completed by the fall of 2016, will involve replacing 80 outdated units with 73 more modern units.
The 450-unit, ten-year, $100 million redevelopment effort will be done in five phases, wherein the “functionally obsolete” housing will be rebuilt as modern, energy efficient and affordable residences, while still maintaining the aesthetic of the neighborhood, a release stated. The Flats were originally built by Wilmington industrialist William P. Bancroft in the early 20th century for mill workers and other city residents of limited and modest means.
“It is a privilege to be a part of this historic transformational project for the West Side of Wilmington and the city as a whole,” said Mayor Dennis P. Williams. “The entire project is evidence of positive movement in neighborhood and economic development. I couldn’t be more excited or encouraged at the involvement of all partners and the neighbors in this project.”
Developer is Housing Development Corporation MidAtlantic, Lancaster, Pa.. The expansion into Delaware marks HDC MidAtlantic’s first growth opportunity beyond the Pennsylvania’s boundaries, as the Lancaster-based, 43-year old non-profit looks to expand their footprint into the Delaware, Maryland and New Jersey affordable housing markets.