New apartment complex going up in New Castle


A Philadelphia-based developer is constructing an apartment complex in New Castle.

In a post on its website, PennroseProperty Management Co. described the complex as consisting of upscale apartments. Click here for the link that includes a sign-up form for further information.

“This new apartment community will feature high end finishes with a complement of community amenities,” the post stated.

The apartments are being constructed as 475 W. 7th Street New Castle, near old New Castle.


It would be the first Delaware project for Pennrose, which, according to the site, has a portfolio of more than 130 properties in six states and the District of Columbia.

The company manages more than 8,000 units and has nearly 300 employees.

Delaware is seeing a boom in new apartment construction as many age groups opt to not take on a loan following the mortgage meltdown of 2008 and 2009.

In addition, companies have snapped up apartment complexes, some of which are in need of an upgrade in order to compete as more new units go up.

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