Construction & Real Estate
How to Build a Thriving Small City
BPG’s approach to residential housing in Wilmington BY CHRISTINE SCHONTUBE
BUCCINI POLLIN GROUP INC. (BPG) has been a prominent figure in the Wilmington real estate market for the past three decades. Along with ResideBPG, the affiliate residential leasing and management company, BPG has developed nearly 2,600 residential units and brought over 5,000 residents to the City of Wilmington. Prior to BPG’s development in the city, the Central Business District (CBD) was home to approximately 130 residents. Recognizing the need for more residents and more diversified housing, the developers saw a vision for Wilmington to be a place where people can live where they work. With an overflow of vacant land, abandoned and condemned buildings, along with the inability to annex land to grow like other municipalities in 38
the state, BPG got to work. In a continued effort to develop within the city, the company has worked to repurpose blighted and underutilized properties to provide new housing types, grow the resident base, create jobs, and increase the tax revenue stream to the city. Since the turn of the century, BPG’s focus has been to provide upscale yet affordable rental homes to rival surrounding cities and attract top talent for our state’s workforce. Starting in 1999, BPG developed their first residential community—fully-furnished, extended stay apartments catered to the workforce. BPG then renovated the vacant and historic Delaware Trust Building located in the heart of the CBD into market rate apartments. November/December 2023
| DELAWARE BUSINESS
