BPG plans 22-story apartment complex for Orange Street

WILMINGTON – The Buccini/Pollin Group (BPG) is planning a $95 million project that includes an apartment complex, adding more than 200 units into its growing portfolio of residential communities in Wilmington. 

The plan is to redevelop a small parking lot on the corner of Orange and Market streets into a 231-unit complex with a four-story office annex building. The annex building will connect to the neighboring I.M. Pei building at 1105 N. Market Street bought by BPG in 2007. BPG also bought the lot on the corner of Orange and Market streets in 2015.

The apartments will be rented at market-rate, BPG representatives confirmed to the Delaware Business Times. The company declined to comment further on the project at the time.

If approved as planned, the Orange Street project would be among the tallest in Wilmington. BPG is currently seeking a variance to build a 250-foot tall structure from city officials. The tallest building in Wilmington is the former Chase Manhattan Center at 1201 N. Market St. which is 330-feet tall.

Plans filed with city officials show that the Orange Street project would include a small coffee lounge and coworking space, as well as 2,500 square feet of outdoor amenity space to include a fire pit, grill and dog run.

The project, which includes $70 million in construction costs, continues building on BPG’s housing development in Wilmington, most notably along the city’s main street. Recent projects like Humble Park in the Lower Market community in the south, the 355-unit complex The Standard in the repurposed Nemours building in the north and the Press to the west all add up to a more than $200 million in investments.

Combined, BPG has 17 projects, ranging from commercial and residential in the heart of Wilmington. The developer has also signed a deal with Pettinaro Companies to manage its 3,000 apartments in 11 sites between Dover, Bear, Newark, North Wilmington, Greenville and Elkton, Md.

BPG plans for projects like The Press to be open in the summer of 2025, while Humble Park is slated to be open at the end of 2024. Recently, the company celebrated placing the final beam on the six-story Humble Park.

Go to Source:https://delawarebusinesstimes.com/news/bpg-apartments-orange-street/

Author: Katie Tabeling