NEW CASTLE — NAI Emory Hill, a large, full-service commercial real estate firm in the Mid-Atlantic region, will be expanding its focus on residential property management and working with owners to maximize their assets. In May, NAI Emory Hill hired Grace Mudrick, a seasoned property manager and real estate broker in single-family, multi-family and commercial ..read more

WILMINGTON — Amid rising housing costs, Gov. John Carney will invest a combined $78 million on affordable housing initiatives across the state, including launching a package of funds to incentivize building projects for low-income residents. Breaking down the funding, the Delaware State Housing Authority (DSHA) will spend roughly $50 million on four programs that are […] The post Carney invests $78 million in affordable housing initiatives appeared first on Delaware Business Times ..read more

NEW CASTLE  — A New Jersey-based multifamily real estate investment and operating firm has acquired two more properties in northern Delaware, growing its share in the market. Montium, a 2-year-old firm based in Lakewood, N.J., and led by founding partners Sam Tress, Ben Ferziger and Israel Mendlowitz, has grown rapidly in the region, acquiring more […] The post <span>?</span> N.J. firm buys two more apartment complexes appeared first on Delaware Business Times ..read more

DOVER – A new bipartisan bill is seeking to reduce Delaware’s real estate transfer tax by 25%, essentially undoing a state increase from five years ago. House Bill 358, introduced on March 31 by lead sponsor Rep. Bill Bush (D-Dover), has already garnered 17 House sponsors and 10 Senate sponsors spanning both the Republican and […] The post Bill aims to cut real estate transfer tax appeared first on Delaware Business Times ..read more

WILMINGTON – A Philadelphia-area real estate development firm recently bought more than 3 acres of land just south of the Market Street Bridge with plans to build nearly 200 upscale apartment units. Westrum Development Company, of Fort Washington, Pa., bought the land at 340 S. Market St. for $3.3 million on March 15, according to […] The post <span>?</span> Pa. firm plans new apartments in Riverfront East appeared first on Delaware Business Times ..read more

WILMINGTON – Development firm Buccini/Pollin Group celebrated the topping out of its latest residential development Crosby Hill on Wednesday morning.  During the ceremony, a structural beam was raised to the roof of the 11-story building, signifying a major milestone in the development of the 203-unit, multi-family community coming to 517 Shipley St. this fall. Following […] The post BPG celebrates Crosby Hill construction milestone appeared first on Delaware Business Times ..read more

LEWES – Sussex County Community Development Director Brandy Nauman has been involved in the effort to encourage developers to include affordable housing in their projects for more than a decade. With the opening last month of Coastal Tide Apartments near Five Points, she hopes the county is on its way to getting more affordable housing […] The post <span>?</span> New Lewes apartments mark progress on affordable units appeared first on Delaware Business Times ..read more

STANTON – A New Jersey-based real estate investment firm recently sold the Christiana Pointe Apartments for $8 million, and therefore divesting all of its assets in the First State. Concordia Properties, based in Lakewood, N.J., sold the 56-unit complex located at 2020 W. Newport Pike in November to a subsidiary of another New Jersey-based firm, […] The post <span>?</span> N.J. firm buys Stanton apartments for $8M appeared first on Delaware Business Times ..read more

WILMINGTON – Capano Residential, the private, vertically integrated real estate developer, has entered the Pennsylvania market for the first time through a partnership with Eland Downe Townhomes and the development of the Reserve On Forge and The Reserve At Steelpointe apartments, all located in Phoenixville, Pa. Set on 50 acres, Eland Downe offers two- and three-bedroom […] The post Capano enters Pa. market with new projects appeared first on Delaware Business Times ..read more

LEWES – If someone told Preston Schell a global pandemic would be good for the homebuilding and development business, he would have laughed. But now as Ocean Atlantic and its subsidiaries, including homebuilder Schell Brothers, close the year after selling a record number of homes and pivoting more in the rental market, Schell is not […] The post <span>?</span> People to Watch: Preston Schell, of OA Companies appeared first on Delaware Business Times ..read more