Delaware State Housing Authority touts success of Downtown Development District program in annual report
DELAWARE- The Downtown Development Districts (DDD) program, administered by the Delaware State Housing Authority (DSHA), recently released its Fiscal Year 2022 (FY2022) Annual Report , touting the completion of 64 development projects using $4.6 million in state funds and leveraging $44 million in private investment. A majority were accomplished by rehabilitating existing buildings, which had been long vacant, and placing them back into productive use.
In Milford, the project helped to create 9 affordable housing units in the City’s Northside in 2021, qualifying those invested for the FY2022 rebates close to the downtown and near areas of economic revitalization.
Delaware State Housing Authority Director of Development Stephanie Griffin tells 47ABC, that for each dollar of state funds the program gave out in refunds for private sector investment, ten dollars came back across all 12 designated development zones.
“We would love to see that number go up and incentivize the development of all kinds, mixed-use, residential, commercial if we can provide the affordable housing so our goal is to push this development of our neighborhoods communities and downtowns,” she said.
In Milford alone, since 2015 the program has spent $1,9699,337 in state funds to attract $14,045,345 in private investment over the course of 52 projects.
In 2022, DDD rebates were issued to 39 affordable homeownership units and 217 affordable rental units throughout Delaware.
The north side affordable units fall is one of those 52 projects, and residents in the buildings say the program resulted in spaces with greater amenities at a lower cost, as well as a chance to leave the rental market behind.
“I’m paying about the same for my mortgage as I was in rent- but I get an extra bedroom an extra bathroom and an end unit so it’s a pretty big bonus and you get to own it as well,” said resident Jason Zircher.
It’s a project that representative Bryan Shupe said he pushed hard for back in 2015 as the Mayor and is thrilled that they are contributing to a feeling of walkability and economic growth for the area.
“It capitalizes on creating affordable housing in downtown areas so the partners worked together to build these houses that would be sold at a discounted rate,” he said adding that “its a part of the downtown we want to make sure isn’t just a businesses community down there but that we also have people that are living there that are working there that are playing there that can walk to amenities and our businesses in downtown.”
He says having these projects also helps encourage new businesses that are not part of the DDD to invest in downtown as well.
‘It’s the opposite of the broken window theory you see an area on the up and up and businesses take advantage they want to grow with us,” Shupe said.
