The City of Wilmington: City government, Wilmington Land Bank, JP Morgan Chase, DSHA and NCRC Partner on 9th Street Homeownership/Neighborhood Stabilization Project
The City of Wilmington, June 4, 2019: City Government, Wilmington Land Bank, JP Morgan Chase, DSHA and NCRC Partner on 9th Street Homeownership/Neighborhood Stabilization Project
Wilmington Mayor Mike Purzycki said a new neighborhood stabilization and homeownership project announced today by the City, Wilmington Neighborhood Conservancy Land Bank (WNCLB) and its developer partner, National Community Reinvestment Coalition (NCRC), will help to transform one block of 9th Street between Adams and Monroe Streets. By bringing in new property owners and community members, the mayor said, the project will help to strengthen two communities—West Center City and Trinity Vicinity—as well as the city as a whole.
According to Land Bank Board Chair Rick Gessner and Executive Director Bill Freeborn, funding for the 9th Street Neighborhood Revitalization Project is being provided through a grant from JP Morgan Chase, support from the DSHA Strong Neighborhoods Fund and through construction financing and funding from the NCRC Housing Rehab Fund.
The renovation of five vacant properties on the south side and one on the north side of the 800 block of 9th Street, known as Phase One of the project, is beginning immediately and is expected to be completed by March 2020. The properties will be made available for purchase by individuals who will agree to live in the properties for at least five years before the property can be sold. Plans for Phase 2 of the project—the construction of three townhomes on the north side of the 800 block of 9th street—is now being finalized and is expected to begin in early 2020.
“Without the financial support of the Land Bank’s developer partners, the revitalization of this neighborhood would not be possible,” said WNCLB Board Chair Rick Gessner. “Our team is confident that the success of this project will spur additional, quality housing development throughout the City of Wilmington.