Wilmington City Council approves $10 million to redevelop some former Bank of America offices downtown into a shared higher education space.
The largely vacant Bracebridge building was built in the mid-1990s to house credit card company MBNA until 2006 when it was acquired by Bank of America.
The six-building complex is now home to biopharmaceutical company Incyte, remaining BOA employees and the Community Education Building, which houses schools and programs for pre-K through secondary education.
The Community Education Building is currently pursuing turning part of the complex, known as Bracebridge II, into a shared space for Widener University Delaware Law School and Delaware State University’s Nursing Program.
The project, known as The Bridge, has already secured part of the needed $60 million, which as of Thursday includes $10 million from the City of Wilmington.
Councilmember Michelle Harlee, the sponsor of the budget amendment, believes the investment will be returned several times over.
“A city is either growing or is dying, and I see The Bridge project as an asset to helping and supporting Wilmington to grow," she said.
Wilmington Mayor Mike Purzycki argues no other city its size lacks a major educational institution, and investing $10 million from the city’s near $100 million general fund is a small price to pay for the perceived benefits.
“The idea that we'd have 2000 students, potential for 2000 students, kind of walking around and adding a youthful vibe to a city — I think it's priceless.”
All Wilmington City Council members present at Thursday’s meeting voted to approve the appropriation, which joins at least $10 million from the state General Assembly's 2025 Bond Bill, $5.7 million from New Castle County and large contributions from private and corporate donations.
If the remaining funding goals are met, the development is expected to open in fall 2028.
