Property Acquisition Pilot Program

The Property Acquisition Pilot Program

The purpose of Jumpstart Wilmington is to promote the growth of local developer capacity through training and development to support neighborhood revitalization and community development solutions.

In 2022, the Property Acquisition Pilot Program was created to address barriers graduates may experience moving projects forward – accessing quality property to acquire and develop.

Cinnaire/Jumpstart Wilmington is partnering with City of Wilmington's Department of Real Estate and Housing, Wilmington Neighborhood Conservancy Land Bank (WNCLB), and the Delaware Affordable Housing Group (DAHG) to address this property sourcing challenge to develop a pipeline of properties that will be exclusively available for Jumpstart Wilmington graduates to acquire.


In addition, developers in need of financial assistance for acquisition, construction, predevelopment costs, renovation of single-family homes, multi-family or mixed-use properties located in Wilmington are invited to apply to Jumpstart Wilmington's Loan Program.

Click flyer to download as PDF.

HOW TO APPLY

This program is only available to developers who have successfully completed the Jumpstart Wilmington training program.

Eligibility Screening:

Prospective applicants will submit a request to apply to JumpstartWilmington@cinnaire.com to confirm eligibility. Eligible candidates will receive a link to an online application that will be submitted to the WNCLB for review.

Application: 

The application process will be streamlined to provide consistency for applicants interested in acquiring properties from these entities. The following process will be followed for both REH/WNCLB and DAHG properties.  

  • Jumpstart Wilmington developer will complete a WNCLB application.  
  • Applications will be reviewed on a first come first serve basis.  
  • Applications will be scored using WNCLB review and scoring criteria.  
  • Applicants recommended for approval will be presented to the WNCLB’s disposition committee for final review and approval of property disposition.  

The WNCLB application will be used to consider acquisition requests for all 12 properties under this program. Applicants will be asked to provide detailed information regarding the proposed project, including but not limited to:

  • Comprehensive scope of work
  • Proforma
  • Construction budget
  • Proof of funding

The completed application will be submitted to: Natalie DiCostanza at ndicostanza@wilmingtonlandbank.org

A maximum of one property will be awarded per Jumpstart Wilmington developer. You may submit applications for multiple properties. If submitting applications for multiple properties, please rank the preference of each property on the application.

Available Properties

7 properties will be provided by the City of Wilmington Department of Real Estate & Housing (REH)/Wilmington Neighborhood Conservancy Land Bank (WNCLB) and 5 properties available by the Delaware Affordable Housing Group (DAHG). 

REH/WNCLB Properties

          • 817 West 4th Street
          • 612 West 5th Street
          • 618 West 7th Street
          • 717 West 8th Street
          • 802 West 6th Street
          • 834 West 6th Street
          • 517 West 7th Street

DAHG Properties

Properties will be listed when available

The right is reserved to reject any and/or all proposals, to waive technicalities, to advertise for new proposals, or to proceed to do the work otherwise, if in the judgement of the WNCLB / COW the best interest of the City will be promoted thereby. 

Open house schedule

Jumpstart Wilmington developers who are eligible to participate in the Property Acquisition Program can visit the eligible properties to inspect the unity and create a scope of work. In order to visit the property you must complete this liability waiver and submit to Natalie DiConstanza at ndicostanza@wilmingtonlandbank.org

Open House 1 (4 units)
Thursday, June 9th 8:30a – 10:30a 

 Open House 2
Thursday, June 23rd 8:30a – 10:30a 

  • 817 West 4th Street 
  • 612 West 5th Street 
  • 802 West 6th Street 
  • 834 West 6th Street 

Open House 1 (3 units)
Friday, June 10th 8:30a -10:30a  

Open House 2 
Friday, June 24th 8:30a – 10:30a  

  • 517 West 7th Street  
  • 618 West 7th Street 
  • 717 West 8th Street 

Property Acquisition Pilot PROGRAM INFORMATION SESSIONS

Monthly information sessions will be held the 2nd Tuesday of the month (2p – 3p ET) to provide an overview of the Jumpstart Wilmington Property Acquisition Program, application, and approval process. See below for the current schedule: 

  • June 14, 2022, 2p – 3p EDT 
  • July 12, 2022, 2p – 3p EDT 
  • August 9, 2022, 2p – 3p EDT 

 To register for an information, please complete this form.

FOR MORE INFORMATION

Property Acquisition Program

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