Wilmington-based developer The Buccini/Pollin Group, Inc. (BPG), BPGS Construction, and ResideBPG marked the topping out of their latest residential development Crosby Hill earlier this month.
During the ceremony, a structural beam was raised to the roof of the 11-story building, marking a milestone in the development of the 203-unit multi-family community coming to 517 Shipley Street in the Fall of this year.
Following remarks from Wilmington Mayor Mike Purzycki, Rob Buccini, co-president of The Buccini/Pollin Group, and Chris Langan, residential regional director for The Buccini/Pollin, the beam was signed and lifted by the 150 foot-tall crane at the site.
The development, which is nearly half complete, brought more than 200 construction jobs to Wilmington.
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, BBQ grills, screening area, and pergola.
A private parking garage with 124 parking spots will be located underground for residents. The building will also feature a fitness center and a penthouse clubroom on the 11th floor and city and river views. The clubroom will boast a demonstration kitchen, game room, coworking space, indoor fireplace, and outdoor terrace. In addition, a release stated that the community will include studios, one- and two-bedroom apartments with stainless-steel appliances, quartz countertops, and high-end finish details.
Crosby Hill’s name pays tribute to the Crosby and Hill Department Store that operated in Wilmington for nearly a century at 605 Market St.
While most of the development in recent years concentrated on Market Street, Crosby Hill marks a move westward to widen the core of the Central Business District in downtown Wilmington. Before demolition, the site was a parking lot. Crosby Hill will relocate the parking underground and bring an estimated 350 people to Shipley Street, increasing critical mass downtown.
To date, BPG has brought over 2,100 units to the residential market in Wilmington. Even with the addition of 300 new units to Downtown Wilmington last year, BPG’s residential portfolio remains stabilized across the board at 95% occupancy with consistent leasing activity at the latest communities. The Cooper and 101 Dupont Place are both over 80% occupied.
“I’ve often said that if a City doesn’t continue to grow, it will die,” said Purzycki. “And rest assured, Wilmington is indeed growing, attracting new businesses and – equally important – new residents every day. Crosby Hill is just the latest example of quality housing options, which have expanded significantly in recent years here in the thriving heart of our great city. This is thanks in no small part to our partners at BPG, whose unprecedented investment continues to show their deep affection and support for Wilmington.”
In working to bring amenities to downtown, BPG opened the doors to Wilma’s Restaurant and Duckpin Bowling Alley at 900 N Market Street and announced its plans to bring a stand-up shuffleboard club to The Residences at Mid-town Parks. Other recent investments include Bardea Steak and the rooftop bar coming to a boutique hotel at 519 Market Street.
“The amount of construction going on here almost totals $100 million when you include the adjacent boutique hotel just behind us. When you come back in a year, and everything is complete at the apartment community, the hotel, and Bardea Steak, it really will be a transformational area of Downtown Wilmington,” said Rob Buccini. “Thank you to our incredible partners without whom this topping out would not be possible, especially Bank OZK, Niles Bolton Associates, the City of Wilmington, BPGS Construction, and ResideBPG.”
