The Downtown Development Districts Rebate Program (DDD), administered by the Delaware State Housing Authority (DSHA), is proud to release its Fiscal Year 2023 (FY2023) Annual Report and Story Map.

 
During FY2023, 63 development projects – 13 large and 50 small projects — were completed, receiving $10.9 million in state funds and leveraging $170 million in private investment. 

Most projects were accomplished by rehabilitating long-vacant, existing buildings and restoring them to productive use. In addition, several historic properties were renovated to preserve the character of Delaware’s downtowns.

Roughly 60 percent of all completed projects were residential, followed by mixed-use and commercial. Notably, the mixed-use category increased the number and type of living options by developing commercial or retail space on the first floor and residential on the upper floors, a renovation model that developers are using more frequently. Combined with residential projects, these two categories resulted in 533 new or rehabilitated residential units added to Delaware’s housing market in FY2023.

Twenty projects, expected to use $9 million in state funds and $139 million in private investment, were started in FY2023 and will be completed in 2024. 

Altogether, approximately $20 million in DDD funds leveraged $309 million in private investment to stimulate job growth, improve the commercial vitality of Delaware cities and towns, and help build a stable community of long-term residents.

The program’s interactive Story Map shows detailed examples of successful DDD projects, including those that have received rebates or are currently in the pipeline.

The DDD program was created by legislation proposed by Gov. Jack Markell and passed unanimously in May 2014 by the General Assembly. Since its inception, the DDD program has paid out $35 million in rebates and attracted $527 million in private investment into Delaware’s downtown districts. The 12 districts, dispersed across the state, include Clayton, Delaware City, Dover, Georgetown, Harrington, Laurel, Middletown, Milford, New Castle, Seaford, Smyrna, and Wilmington.

DSHA Executive Director Eugene R. Young, Jr. said the FY2023 DDD Annual Report highlights “how the rebate program, along with strong partners and powerful incentives, are accelerating private investment in designated business corridors and surrounding neighborhoods throughout the state.” 

He added that the 63 completed projects “supported new and existing businesses, reduced blight, and created a range of housing opportunities.”

Applications for 2024 large projects are open until Feb. 27, 2024. Applications for 2024 small projects are being accepted on a rolling basis, subject to funding availability.  

To read the full Fiscal Year 2023 (FY2023) Annual Report or view the FY2023 Story Map, please visit the DSHA website.

About Delaware State Housing Authority

The Delaware State Housing Authority (DSHA), formed in 1968, provides quality, affordable housing opportunities and appropriate supportive services to low- and moderate-income Delawareans. In addition to its role as the State’s Housing Finance Agency, DSHA is unique in that it serves as a Public Housing Authority and a Community Development and Planning Agency. As a Public Housing Authority, DSHA receives funding from HUD to build, own, and operate public housing in Kent and Sussex counties, two of Delaware’s three counties. For more information about DSHA, please call (302) 739-4263 or visit www.destatehousing.com.