A project aimed at boosting Dover’s downtown district is now a reality.
Bayard Plaza, built on the site of the historic Bayard Hotel, officially opened its doors Thursday.
Governor Jack Markell (D), Delaware Economic Development Office Director Alan Levin and other officials welcomed Bayard Plaza to the Loockerman Street location.
DEDO and the Delaware State Housing Authority each provided financial support to develop the plaza, which features commercial space on the ground floor and 48 moderate-income apartments above.
The apartments are available to income-eligible tenants who earn no more than 60 percent of the area’s median income.
Director of Housing Development for Delaware State Housing Authority Susan Eliason says that this project helps address a statewide challenge.
“We have a tremendous need for affordable housing statewide. More people are getting into the rental market, which puts more pressure on the rental market as a whole," said Eliason. "So the fact that we were able to create 48 new units, it’s part of the Downtown Dover Partnership to bring vitality back to Downtown Dover.”
DEDO usually deals in strictly “for profit” projects, but its director Alan Levin says that this partnership with DSHA was seamless.
“That is characteristic of the way Governor Markell has tried to put his government together because it allows us to leverage the assets that departments have just trying to make business successful. One of the key elements of business is having your customers and your employees having an opportunity and a place to live,” said Levin.
Levin adds that family-owned Bayard Pharmacy, the first business to occupy the commercial space, is significant tenant because pharmacies are often community magnets. Levin was previously President, CEO, and majority of Delaware's Happy Harry's Pharmacy chain before he sold it to Walgreens.