Buccini/Pollin buys historic Hotel du Pont
DuPont announced Tuesday it’s has agreed to sell the historic Hotel du Pont in downtown Wilmington to the Buccini/Pollin Group.
Under the agreement, the hotel will continue to operate under the Hotel du Pont name. The Green Room restaurant and Gold Ballroom will also continue under the new management.
BPG's hotel management affiliate, PM Hotel Group, will operate the 217-room hotel.
Buccini/Pollin Group Executive Vice President Michael Hare said the hotel’s 200 workers will be hired full-time when the sale closes in late February.
“There won’t be any new jobs but there are no plans for reduction of workforce,” he said.
BPG purchased the DuPont Building that houses the hotel last month.
With the purchase of the hotel this week, the real estate developer now has full control of the building.
Hare said the plan is to use the building -that has historically served as an anchor for the city- as a catalyst for redevelopment in Downtown Wilmington.
“We see a mix of convenience retail and some additional restaurants coming into the building's 50,000 square feet of retail space. We also want to activate the 10th Street side of the building for ground-level retail,” he said.
BPG also plans to attract new companies to the 60,000 square feet of office space not occupied by the building's main tenant, Chemours.
BPG is expected to unveil a comprehensive restoration plan for the 103-year-old hotel in the near future.
The sale is expected to be finalized by February 28.
Separately, DuPont also announced Tuesday that it’s beginning the process of selling its country club in north Wilmington.
DuPont said it will only sell to a buyer who will keep it a country club.