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Real Estate Journal — Fall Preview — September 28 - October 11, 2018 — 1C
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ikipedia’s Definition of Mixed-Use Devel- opment is a type of By Lorraine Sheldon, NAI Emory Hill Mixed-Use development projects migrating from the urban areas to the suburbs in Delaware W
real estate development project—a building, complex of buildings, or district of a town or city that is de- veloped for mixed-use by a private developer, (quasi-) governmental agency, or a combination thereof. Everywhere I go in Delaware I see cranes and construction of mixed-use development projects. They started in the urban areas and are migrating out to the suburbs. Planners and architects seem to be rethinking how they redesign apart- ment complexes, parking garages, land opportunities from old indus- trial sites that were brownfields such as the Wilmington Riverfront, The Claymont Steel plant and the GM plant, and even converting office and industrial buildings into
the mix. Mixed-use development projects are evolving due to the changes that took place during the long reces- sion, technological advancement and a need to provide a balance of “live, work, play” amenities catering to an increasing desire of people wanting to live and shop close to work. In addition, with the scarcity of land driving up real estate costs, transforming properties zoned office neighborhood (ON) commercial regional (CR) and commercial neighborhood (CN) to mixed-use creates more density, adding value for landowners and developers ac- cording to local engineers. TheWilmington “Riverfront” is an example of a mixed-use development
that consists of a good tenant mix of coffee shops, restaurants, salons, a fitness center, sports complex, bou- tiques, miniature golf, ice skating rink, apartments, condominiums, offices, hotels and even a convention center. These developments become destinations. In addition, the River Front Development Corporation, represented by NAI Emory Hill, bought 5.89 acres between the river and S. Market Street which will be a continuation of this large mixed use project. Across the street is a large stadium under construction for a semi-professional basketball team, The Blue Coats, owned by the 76’ers. The building will also be used for other community sporting activities. Another successful project, “Dar-
ley Green” includes the revitaliza- tion of a 300 + acre site in Claymont being developed by Montchanin Builders and LC Homes. They’ve created a walkable village with a combination of upscale apartments, offices, retail and a state-of-the- art library which is located in the perimeter of the village, as well as open space for community events. “First State Crossing” (formerly the Claymont Steel/Evraz site) is another mixed-use revitalization project in Claymont scheduled for construction in the coming months which will include a new train sta- tion and transit center. Other mixed-use projects al- ready under construction include: “Concord Plaza,” a BPG project on Silverside Rd. in North Wilming- ton; “Linden Hill Station” in Pike Creek; a project for “2000 Penn- sylvania Avenue Galleria LLC” in Wilmington under construction by GG&A Construction and the “STAR Tower” and campus at the University of Delaware in Newark developed by Delle Donne—a new site featuring UDR&D and medical offices, small innovation startup companies and a train station all close to housing for students and faculty. Some future projects include the Delle Donne project called “Avenue North” at the Astra Zeneca site purchased on Rt. 202 and Powder Mill Rd. inWilmington and several projects being represented by NAI Emory Hill including: the proposed “Promenade” at Middletown, an 18.18 acre site to feature a mixed- use, open-air development of shops, restaurants, entertainment and apartments located in the heart of Main Street, Middletown; a land development listing consisting of approximately 80 acres at 1385 McKee Rd. in Dover; an office and land complex on Society Drive in Claymont for lease; and a 22.25 acre commercial office/residential complex on Davidson Drive in Milton with subdivision potential. Mixed-use properties seem to be growing overall in demand throughout Delaware. We’ve seen apartments and spaces fully leased before they are even completed and increasing numbers of investors and developers are making smart choices to develop these types of properties. The more attractive the location and the more diversified the mix of entities within these developments, the more we will see them continue to increase and flourish in bringing in visitors, residents and companies relocating to our state. Lorraine Sheldon is an agent with NAI Emory Hill Real Es- tate Services, Inc. in New Castle, DE.
urban devel- opmen t t h a t blends residen- tial, commer- cial, cultural, institutional, or entertainment u s e s , wh e r e those functions are physically
Lorraine Sheldon
and functionally integrated, and that provides pedestrian connec- tions. Mixed-use development can take the form of a single building, a city block, or entire neighborhoods. The term may also be used more specifically to refer to a mixed-use
We’ve Got the Perfect Location for You.
When it comes to finding mixed use land for sale in Delaware...
For Sale: 1385 McKee Rd, Dover +/- 78 - 82 Acre Site Available • Kent County - Zoned RS-1; Dover Zoned Ind./Comm. • Potential to annex into Dover City Limits • Dover water/sewer nearby. • Possibility to rezone thru Dover’s Comp Plan update • Eligible for Opportunity Zone federal tax incentives • Norfolk Southern Rail line in back of property • Near DSU, Del Tech, Wilmington University Contact: Lorraine Sheldon: lorrainesheldon@emoryhill.com
For Sale: Office/Residential Complex Davidson Drive, Milton: +/- 22.25 Acres, Subdivision Pot. +/- 22.25 acres with subdivision potential • 4,600 square foot office space • 1,700 square foot, 3-bedroom 2-bath home with 2-car garage • 2 – 12x20 insulated storage buildings behind the office • 16x40 storage barn (10x16 is insulated) • 24x26 1-bedroom in-law suite • 24x14 conditioned storage with high impact garage door (attached to the in-law suite) • 21x32 storage barn • +/- 3/4 acre fish pond Contact: Ann Bailey, CCIM: annbailey@emoryhill.com
For Sale: Society Office Complex 1000 - 1508 Society Drive, Claymont • 3.13 Acres (36,000 sf divided into six (6) 6,000 sf buildings) • 2.31 Acres undeveloped land. Zoned ON. (Borders Naamans Rd.) • Suites have separate entrances • Separate HVAC systems • Zoned Office Neighborhood (ON) • Located off of Naamans Road about one mile from I-95 • Near the Pennsylvania state line. Contact: Lorraine Sheldon: lorrainesheldon@emoryhill.com
Commercial Brokerage, Construction, Property Management, Maintenance & Residential Sales
10 Corporate Circle, Suite 100, New Castle, DE 302.322.9500 20245 Bay Vista Rd., Rehoboth Beach, DE 302.827.4940 www.emoryhill.com
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