An artist’s rendering of a luxury apartment complex scheduled to open spring 2016 at Newark Shopping Center.
Newark is a great place to live, no matter what your age or stage of life. Part of the strategy is to embrace undergraduates at the University of
Delaware as an integral part of the fabric of downtown. To that end, the city is offering density bonuses for smaller apartments, typically one or two bedrooms.
“The idea is twofold: to have a student population downtown full time and to ease pressure in adjoining, traditional family neighborhoods that were feeling squeezed by students,” says Maureen Feeney Roser, the city’s director of planning and development.
The Bainbridge Companies, a Maryland-based developer of multifamily rental properties, picked Newark for a luxury apartment complex at Newark Shopping Center. It’s currently under construction, with an expected completion date of spring 2016. Occupancy in the one- and two-bedroom apartments will be restricted to one or two adults.
“We are very excited about Newark and love the downtown area,” says Josh Wooldridge, senior development director at Bainbridge. “A lot of people are realizing they don’t want to be dependent on their cars. Renters want a lifestyle in which they can walk to amenities, retail, restaurants.” Newark also is increasing in popularity as a destination for middle-aged as well as older people.
“We are trying to reach out to the baby boomers who are attracted to university communities because they can retire and still have part-time jobs,” Roser says. “We have several options for people who are 55 and older, such as Fountainview and White Chapel with accessible price points and Briar Creek, which is upscale.”
On the wish list is a 55-plus community within walking distance of downtown. “There are a lot of very fit and active people in that demographic who would enjoy leaving the car at home and walking to a nice restaurant,” Roser says.