A sleepy section of downtown Wilmington is expected to get a burst of new activity when Widener University Delaware Law School moves there during the 2027-2028 school year.
:quality(75))
It is shifting to 1020 French St., a 259K SF building near Rodney Square formerly known as Bracebridge II, from its suburban campus outside the city in Talleyville, according to a Tuesday press release.
Widener is also taking space a block away at the Community Education Building property at 1200 French St., which is also part of the $250M public-private partnership called The Bridge Project.
The partnership — consisting of Widener, the CEB nonprofit, the University of Delaware and Delaware State University — seeks to activate 550K SF across three buildings. The release from the partnership says the campus will serve 2,000 students, faculty and staff and that it will “drive long-term economic growth.”
“Relocating Delaware Law School to downtown Wilmington will enable our students to engage more deeply with the surrounding community and the legal ecosystem for which the First State is renowned,” Delaware Law Dean Todd Clark said in the release.
The neighborhood around Rodney Square is also the site of a high-profile residential project from Buccini Pollin Group. It bought the 500K SF Bracebridge III at 1100 N. French St. from the biopharmaceutical firm Incyte in February and is plotting a partial residential conversion. Incyte has also committed to leasing 80K SF in the building.
SALES
Local developer Alan Shuman spent $5.1M to buy three historic buildings at 431, 437 and 443 Penn St. in downtown Reading from the city government, WFMZ reported. The municipality is receiving $4.1M in cash, alongside the forgiveness of $1.6M it owes Shuman for his work restoring the art deco Abraham Lincoln Building nearby at 100 N. Fifth St.
LEASES
Custom millwork manufacturer KRG Enterprises has renewed its 157K SF lease at Brickman’s 9901 Blue Grass Road property in Northeast Philadelphia. Rich Gorodesky and Adam Gorodesky of Colliers represented both parties.
***
UBS is moving a team out of Conshohocken and into Radnor later this year, the bank announced in a Tuesday press release. The new space is at 150 N. Radnor Chester Road in the Radnor Financial Center, the Philadelphia Business Journal reported.
The move comes after UBS finished renovating its Newtown office earlier this year.
CONSTRUCTION AND DEVELOPMENT
NewCourtland will celebrate the grand opening of its Apartments at Clearfield senior housing complex on June 2. The building at 2033 W. Toronto St. in Allegheny West includes 48 one-bedroom units for tenants 62 and older.
***
Buccini Pollin Group and the University of Delaware have finished building the Asters, a market-rate apartment complex on the school’s satellite Science, Technology and Advanced Research Campus in Newark. The 229-unit project across two seven-story buildings constitutes a $75M investment.
FINANCING
A 19-unit mixed-use project on the corner of Sunnyside Avenue and Conrad Street in East Falls has been refinanced. The parcels were purchased by Merion Station-based Tiger Real Estate Inc. in 2010 and 2020, according to city property records.
The loan was arranged by a Northmarq team including John Banas, Kris Wood, David Singer and Jeff Steigerwalt.
THIS AND THAT
:quality(75))
Comcast Spectacor and The Cordish Cos. plan to open the newly renovated Stateside Live event space in the South Philadelphia Sports Complex on May 29. The companies have invested $20M to add a rooftop bar, beer garden and more.
***
The Philadelphia Housing Development Corp. is holding a housing fair at Temple University between 10 a.m. and 3 p.m. on Sept. 26. It will be partly focused on development opportunities for landlords.
)
)
)
)
)
)
)
)
)
)
)
)