Wilmington developer unveils $175M upgrade to historic building
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The Buccini/Pollin Group has announced what’s in store for the historic DuPont Building now that the sale from the Chemours Company is complete.
“The purchase of the DuPont Building and its assets couldn’t make any more sense to us right now,” said Chris Buccini, co-president of BPG. “There is no better way to coalesce our long-running vision for a vibrant downtown where people come together to live, work and play, than to take on the DuPont Building and re-envision it as a modern vision of what it has always been, a lifestyle center for the city of Wilmington.”
BPG said it will invest $175 million into the 950,000 square foot property. The project includes the preservation of the Hotel du Pont and its 100 full-time employees and its signature Green Room restaurant. The 1200-seat Playhouse on Rodney Square will also continue to operate, with a new entrance from Tenth Street.
The first phase of modernization will open up the existing office space for Chemours, with a dedicated entrance lobby on Market Street across from Rodney Square.
When Chemours initally announced the sale of its downtown headquarters earlier this year, Chemours leaders said they planned to lease back the office space as a long-term tenant.
“Staying in this historic building is an entirely appropriate acknowledgment of our legacy,” said Mark Vergnano, CEO of Chemours. The company signed a 17-year lease.
The multimillion dollar project will add approximately 180 luxury multi-family units. The residential portion of the building will have its own dedicated lobby entrance on Tenth Street, and will feature shared services and amenities provided by the Hotel du Pont.
The tinted windows on the ground floor of the building will be replaced with clear windows and house a variety of retail stores and dining options.
“There really is no other mixed used project in the Mid-Atlantic like this,” said Rob Buccini, co-president of BPG. “Adding the multi-family component and the exciting enhancement of the ground floor retail is what will transition an already vibrant asset into an 18-hour urban center in this new era of amenity-based downtown living and working.”
Chris Buccini said a unique food hall with multiple restaurants and cuisines will anchor BPG’s changes at the opposite corner of 10th and Orange Streets.
“The food hall will be a community hub for people living and working in and around the building on a daily basis, and provide an affordable dining experience,” Buccini said.
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