The Buccini/Pollin Group unveiled 76 new luxury apartments with affordable pricing in the heart of Wilmington’s LOMA district on Friday. Governor Jack Markell was on hand at the ribbon cutting celebration for Market Street Village, which includes the properties of 838 Market Street — next to a brand new Brew Ha Ha; 839 Market Street — above a completely renovated, brightly-lit Walgreens; and 6 East 3rd Street. (Buccini/Pollin also renovated the Walgreens.) The apartments are modern, incredibly attractive, and quiet — enjoy the view from the original windows, and you can’t hear the cars below. Even the exposed duct work — which lends a sleek sophistication to each apartment and allows the ceilings to be higher — is extremely quiet. Every apartment features quartz kitchen countertops with dark wood soft-close cabinets, stainless steel appliances, full size stacked washer and dryer and wood-style plank flooring. 838 Market also has a gym, conference room, and a furnished lounge area for social gatherings — all three residences can enjoy these amenities.
The total construction cost was $11,000,000, and the total development cost was $26,000,000. A big investment for affordable housing which is meant to appeal to people who work in the downtown area. Already one of the buildings is 80% sold. Units vary in size and cost. But essentially, if your income is between $34,000 and $45,000, monthly rent will be $1,103. If your income is below $34,000, rent will be $786.