Tax breaks to lift impoverished Wilmington areas are being used to build luxury apartments
From Delaware Online
A new federal program promising lucrative tax breaks to help poor, disinvested neighborhoods is being used by developers to build luxury apartments and hotels in Wilmington’s business districts.
Census tracts designated by Gov. John Carney for the program include the southern portion of the city’s East Side and stretches of its Northeast, which have long struggled with crime, poverty and a crumbling housing stock.
They also include the booming Riverfront and resurgent downtown, which are already seeing a swell of development.
For now, it’s the latter areas that are attracting interest in the program.