Waterfront! Exciting adaptive reuse opportunity of a former historic firehouse with a variety of options available. The potential highest and best use could be to transform into much needed apartments, or into a mixed-use project with office or retail on the first-floor apartments above. The exterior has been well preserved as seen in the photos. The building is located in the downtown core of Milford, DE just north of the rapidly expanding Delaware beach market, and is also alongside the Mispillion River. The building's interior is in a shell condition with vaulted ceilings in a portion of it.
This is within the Federal Opportunity Zone and also qualifies for several other programs including the historic district credits, National Historic Preservation, and the City of Milford Downtown Development District grants & credits. Grants and credits, not including the opportunity zone benefits, could total hundreds of thousands of dollars. Potential density is for first floor retail/office and 14 apartments above, or no mixed-use and 14 larger sized apartments.
Unique opportunity - Adaptive reuse of a historic waterfront firehouse
Ample grants & tax credits available ($100's K)
Apartment demand is high
Short distance to Delaware beach market