Revitalizing Delaware's Downtowns: The Success and Possibility of the Downtown Development Districts Act in Wilmington, DE
28 Aug 2024
News, Quality of Life, Business Attraction, Client Feature Article
This article originally appeared on and was written for Wilmington, DE Office of Economic Development by Golden Shovel Agency.
In 2014, the Delaware General Assembly enacted the Downtown Development Districts Act (DDD Act), a statewide incentive program to rejuvenate the state's struggling downtown areas. The strategic initiative aimed to attract private capital, stimulate job growth, improve housing opportunities, and enhance commercial vitality within designated districts. Since then, Delaware's downtown areas have been undergoing a remarkable transformation, with the DDD spurring revitalization across the state. By leveraging the appeal of dynamic downtowns, the Act aims to strengthen neighborhoods and attract diverse residents and businesses.
The Act's primary incentive is the DDD Rebate, administered by the Delaware State Housing Authority (DSHA). This rebate awards up to 20 percent of the hard costs associated with construction or redevelopment within designated Downtown Development Districts. Investors, ranging from property owners and tenants to for-profit developers, nonprofit organizations, businesses, and homeowners, are eligible for this rebate, making it an attractive incentive for a wide range of stakeholders.
Examples of Success
Downtown Delaware 4th Market
One of the key achievements of the DDD Act has been its ability to facilitate a diverse range of projects, from the rehabilitation of single-family homes to the construction of 24-story buildings. This diversity has played a crucial role in revitalizing downtowns, as it caters to various needs and preferences, creating a vibrant and dynamic environment.
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