Robert Rosenberg has spent more than 20 years in the business of development. Two years ago, he moved that experience to the Wilmington area, unveiling his first project: The Bridges.
Instead of razing the apartment building, Wilmington Development Group took the existing building and re-created it, re-using elements from the existing structure.
Michael Kersting, the architect hired to work on the project, said that with a limited budget and creativity, recycling was the best option. Creating slight floor plan adjustments as they went along, the developers intended to re-use everything removed from the building, including wall partitions.
“The building has a good structure, good bones, but it was truly ugly,” Kersting said.
Rosenberg said he approached and bought from local vendors and craftsmen as often as he could. The property has eight units – with 12-foot ceilings ranging from 600 to under 1,000 square feet – and is located at Red Cross and Second Street.
Prices start at under $200,000 for a one-bedroom and $239,999 for a two-bedroom unit. Two units are under listing with Gene Ingle and Keith Beatty of Intracoastal. Three units are being completed for listing and the rest are either occupied or under contract.
The property boasts amenities that seem to appeal to professionals interested in walking to work at PPD or driving a short distance to GE.
“People want to be downtown for the walkability,” Rosenberg said, admitting that he has also appreciated the building’s proximity to the river walk or the galleries.
He and Ingle say the property has received positive feedback – including comparisons to residential spaces completed by Todd Toconis or Dave Spetrino.
“I thought that was a really nice compliment,” Rosenberg said. “They have done a great job downtown and I have admiration and respect for them.”
Because the company is reusing an existing, older structure, taxes are lower. The property has parking for its residents. A public parking structure is planned to open down the block.