Capano Management Announces Development of the Former Bancroft Mills 346-Unit Luxury Rental Apartment Development

Wilmington developer, Louis Capano III, announces the redevelopment of a 12-acre former mill complex dating from 1787 into an exclusive 346 unit apartment community. Rising above the beautiful Brandywine creek, the historic Gilpin Mill was once a paper mill, a textile mill and a Dye company closing in 2003. Developer Capano re-imagined it into a community of 346 exclusive apartments with sweeping vistas of the scenic Brandywine Creek. The community will be a prime example of a Class A multifamily development.

The adaptive use of the vacant mill property will inspire a vibrant residential community for walking and biking and will create a high-end rental product offering Studio, 1, 2 and 3 bedroom apartments. These exclusive units will be built in two phases with the first 182 apartments to be available for occupancy mid 2020. Residents will enjoy unparalleled amenities, carefully curated to enhance the resident’s experience. The proposed 7,000 square feet (sf) amenity space includes a multimedia club room with game tables, state of the art fitness center, yoga studio, library, outdoor resort style pool and rooftop deck with expansive views of Rockford Falls and Alapocus State Park.

The Reserve At Rockford Falls will contribute to Wilmington’s recent resurgence at the long abandoned Bancroft Mills. In conjunction with DNREC Division of Parks and Recreation, a new public pavilion, restrooms and entrance will be added to the 415-acre Alapocas Run State Park, across the Brandywine from The Reserve at Rockford Falls. Alapocas State Park features the Rock Manor Golf Course, hiking and biking trails and a well-known rock climbing wall.

“We are extremely excited about providing nearly 350 units of prime, class A rental housing to a key Wilmington location and know future residents will be delighted with both our quality of construction and attention to resident needs,” said Capano in announcing the project.