A ribbon-cutting ceremony was recently held for the River House apartment project on the Wilmington Riverfront.
River House is a two-phase development with 300 apartment units along the Christina River off A Street. Rents range from about $1,500 for a studio apartment to $2,200 for a two-bedroom unit. Move-ins began last month.
The project was first announced in 2021.
Phase 1 includes the construction of a six-story building as well as the construction of surface parking lots, and an outdoor pool. Amenities include a fitness room, lounge area, pool changing room, rooftop lounge, and bar area.
River House is a project of WPM Real Estate Management, an apartment manager and developer based in Owings Mill, MD, with extensive holdings in the Baltimore area.
The entry of WPE marks an expansion of apartment development, which has been dominated by Buccini/Pollin Group, with Capano developing apartments near the Delaware Theatre Co. The development also expands apartment development along the river.
The original Wilmington Riverfront area, including a Riverwalk, is largely developed as the focus shifts to other areas near the Christina River. Apartment development has proceeded at a slower pace on the other side of the river. The area is near a Shoprite market, but is away from the cinema and restaurants on the other side of the river.
Demand has been strong for apartments on the riverfront and downtown Wilmington, with occupancy rates remaining in the 90% range. River House.
Bancroft Construction Co., Wilmington, is the contractor for River House.
