$40 million project announced to revitalize Pennsylvania Ave property
Wilmington officials are applauding a $40 million dollar project to revitalize a portion of the Union Street corridor.
Over the next two years, developer Tsionas Properties will redevelop the property at 2000 Pennsylvania Avenue.
The plan is to turn it a five-story building containing shops and luxury residences.
Mayor Dennis Williams says this project first is part of a larger effort to make the city more walkable and add amenities that will attract young professionals.
“The young folks we’ve interviewed--this is what they want," said Williams. "They want to be able to come from work, park their car and get a beer or two with friends, and come back home.”
The property is adjacent to the Highlands, Little Italy and Trolley Square neighborhoods.
Michael Hoffman of Tarabicos Rosso, a group working with Tsionas, expressed optimism about the project -- given the progress of similar redevelopments in other parts of the city.
“Concepts like this, they’re not new. They’ve already been successful in the area. You don’t have to look too far in the city of Wilmington to see the advances and strides made at the Riverfront. And also on Market Street. We’re confident that this will be a successful project.”
Tsionas Properties is still negotiating with current tenants of the building. The developer will held a community meeting to discuss the project at 7p.m. Wednesday night at the Woodlawn Library.