How Wilmington's developers are revitalizing the city - Delaware


May 19, 2015 11:00 am

How Wilmington’s developers are revitalizing the city

There is 1.32 million square feet of vacant office space in Wilmington. Here's how a few key developers aim to change that.

Wilmington's financial district.

(Photo by Flickr user Michel G., used under a Creative Commons license)

Expensive parking options, high crime rates and vacant office spaces are but a few of the blaring blemishes on the face of downtown Wilmington. A few of the city’s major developers are trying to flip that image on its head.

Developer Paul McConnell, as the Delaware Business Times reports, wants to lure University of Delaware into the city. “Once you have the university here as an active presence, then the jobs are going to come and the kids are going to come,” McConnell told the Business Times.

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One major change, and one that seems to be on the forefront of most developers’ agendas, is a plan to repurpose the city’s Class B office space. In particular, this is happening with the rebranding of the Hercules building as an innovation center and the Beneficial Bank building’s transition to a fancy new hotel.

Additionally, the Market Street innovation cluster is continuing to expand. Without a doubt, there’s a lot a work ahead, but the city is indeed on the rise.

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