Local officials joined The Galman Group this week for a ribbon cutting ceremony to mark the reopening of Thorn Flats, a residential community that underwent millions of dollars in renovations.
The Galman Group, a Jenkintown, PA-based real estate development and management company, invested millions of dollars in overhauling the multi-family property, located at 91 Thorn Lane in the College Park section of Newark. The investment is part of the $30 million commitment to renovating Thorn Flats and its sister property, Lehigh Flats, a release stated.
“The city of Newark is a flourishing innovation hub led by University of Delaware’s growing STAR Campus, as well as Wilmington-based research institutions that are choosing to expand here. Offering a high-quality, best-in-class residential community is essential to supporting Newark’s evolution,” said Sam Goldstein, president of The Galman Group. “By adding 400 luxury apartments to Newark, Thorn Flats is another rung in the infrastructure ladder that helps cement Newark as a leader in the technology sector.”
“This is a red-letter day for the city and the county as we recognize all of the hard work through our combined partnerships,” said Newark Mary Jerry Clifton. “This place has blown it out of the water with the amenities.”
Improvements at Thorn Flats include redesigned floorplans, updated flooring, cabinetry, fixtures and appliances in living areas, and new bathrooms in all 400 units.
Galman also renovated and upgraded the community common areas.
“There’s a need for quality housing across our county and in Newark,” said Matt Meyer, New Castle County Executive. “It’s so important that we work together with the city and with places like Thorn Flats. It’s also important that we continue to work together on projects like this and work with private partners to make the investments so people can live in high-quality places.”
Prior to Galman’s $41 million acquisition of Thorn Flats and neighboring Lehigh Flats in May 2019, the then-Class B properties were in foreclosure and 75 percent vacant. Despite the pandemic-induced labor and supply chain challenges, Galman completed the renovation of Thorn Flats on schedule. Lehigh Flats, located at 650 Lehigh Road, is currently undergoing renovations to its 300 units.
Thorn Flats offers studio, one-bedroom and two-bedroom units with rental rates starting around $1,200. Further amenities and leasing options are available at GalmanGroup.com. Other Galman Group properties in the Newark area are Buckingham Place Townhomes and Cooper’s Place.
The grand reopening ceremony included a donation of 200 smoke detectors provided by The Galman Group to the Aetna Hose & Hook Ladder Company.