Governor’s Conference on Housing...9.2.2016 Governor’s Conference on Housing . Brief Background...
Transcript of Governor’s Conference on Housing...9.2.2016 Governor’s Conference on Housing . Brief Background...
9.2.2016
Governor’s Conference on
Housing
Brief Background on BPG
• The Buccini/Pollin Group, Inc. (Buccini/Pollin) is a privately-held, full-service real
estate acquisition, development and management company that has acquired or
developed real estate assets having a value in excess of $4.0 billion. This includes
26 hotels, 6 million square feet of office and retail space, 10 major residential
communities, and multiple entertainment venues spread across Delaware,
Pennsylvania, Maryland, New Jersey, New York, Virginia, Tennessee, Oregon and
Washington, DC.
• While our company’s footprint spans the entire United States, we remain heavily
focused on development in Wilmington, Delaware.
Recently Completed Projects • Market Street Village:
• 76 1-Bedroom & Efficiency Units
• Mix of affordable and Market rate units
• Delivered October-December, 2015 (3 different buildings)
• Occupancy:
– 839 Market (Walgreens): 24 of 24
– 6 E 3rd : 15 of 15
– 838 Market (WSFS): 30 of 37
Citi First Mortgage 16,106,339.00$
HDF 3,015,878.00$
Deferred Developer Fee 229,482.00$
Seller Financing 5,510,055.00$
Tax Credit Equity 753,857.00$
Developer Fee from Equity 385,259.00$
26,000,870.00$
Citi First Mortgage 4,547,272.00$
Citi Subordinate Loan Program 531,559.00$
DSHA HDF 2,745,000.00$
Seller Financing 5,510,055.00$
Deferred Developer Fee 127,240.00$
Additional LIHTC Equity 4,347,905.00$
Federal Historic Tax Credit Equity 3,684,069.00$
State Historic Tax Credit Equity 4,507,770.00$
26,000,870.00$
Sources During Construction
Perm Sources
MARKET STREET VILLAGE
9th & Orange
Orange St. Façade Burton Place & Shipley
Projects Under Construction
Projects Under Construction
That’s a person!
The Big Picture .
365 2003 1,626 2016 1,954 2020
The Buccini/Pollin Group’s Multifamily Developments in Wilmington, Delaware