Buccini/Pollin announces $62 million high rise apartment building in Wilmington

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Wilmington-based developer, The Buccini/Pollin Group, Inc.,  BPGS Construction, and ResideBPG announced their latest residential development in downtown Wilmington, Crosby Hill.

The project will bring 203 apartments to 517 Shipley Street in the fall of 2022.

Designed by Niles Bolton Associates, the $62 million development includes two four-story buildings and one 11-story building surrounding a private, landscaped courtyard with a swimming pool, fireplace, barbecue grills, screening area, and pergola. A private parking garage with 124 parking spots will be located underground for residents.

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The building will also feature a fitness center and a penthouse clubroom on the 11th floor.

The building will include studios, one, and two-bedroom apartments. It is within walking distance of the Wilmington Train Station.

Crosby Hill is named after  Crosby and Hill Department Store operated in  Wilmington from 1878 to 1960 at 605 Market St.

The project marks an expansion of apartment development beyond Market Street in downtown.

Before demolition, the site was originally a  parking lot. Crosby Hill will relocate the parking underground and bring an estimated 400 people to Shipley Street.

“Wilmington is an inspiring collection of diverse, livable neighborhoods,” said Wilmington Mayor Mike Purzycki. “In more recent years, we’ve seen a remarkable growth of housing options in the Downtown District neighborhood largely because of the unprecedented investment of our partners at BPG who continue to demonstrate their deep affection and support for Wilmington.”

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 of 2020, BPG opened 13 units on Market Street at 713 MKT. In September of 2020, BPG opened the first residential units in the DuPont Building with the new 198-unit community at 101 dupont place.

Last month, BPG opened The Cooper, a 92-unit community on Lower Market Street.  Despite the growth, BPG’s residential portfolio is stabilized above 92 percent occupancy across the board.

“We whole-heartedly believe that the City of Wilmington is a great place to live and do businesses, and we are committed to Wilmington’s growth every day. We will continue to build beautiful homes here as more and more people are attracted to all of the great things our city offers,” said Rob Buccini, co-President of The Buccini/Pollin Group.

“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,” stated Buccini/Pollin Group co-president Rob Buccini. “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.”

The Buccini/Pollin Group and BPGS construction will manage the development and construction of Crosby Hill, and BPG’s residential affiliate ResideBPG will handle leasing and property management. The development will bring 200 construction jobs to Wilmington.

 

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