April 25, 2019, Wilmington DE — With sitework underway at its most recent luxury apartment community in Delaware, Capano Residential continues to focus on the expectations of the increasing number of individuals and families for whom renting is a lifestyle choice and not a compromise.
“More and more, renting is becoming a first choice for young and old,” said Bill Krapf, chief development officer for Capano Residential. Capano Residential, part of Capano Management, Delaware’s leading real estate developer, has plans for more than 264 new apartment homes in the fast-growing Westtown area of Middletown. Construction will start soon on the 144 units of Phase 1, which will also include a club house and pool. The first 24-unit building will begin renting in fall, with additional buildings reaching completion about every four weeks through next spring. The site offers easy access to the new 301 Bypass and is in the desirable Appoquinimink school district.
The freedom of apartment rental with a sense of community and fine living “It used to be that renting was something done out of necessity, or during a phase in your life,” said Krapf. “The expectations for ‘home’ are changing; people don’t want to be tied down to a mortgage, maintenance and upkeep, but they do want a sense of community and the amenities of fine living. Our apartments are designed and managed with that in mind.” The newest Capano Residential community follows the success of its nearby 360-unit South Ridge project, which is 100% leased. “There is a need for quality housing at a price point that allows for quality amenities –kitchens with upgraded cabinets and stainless-steel appliances and luxury touches such as higher-end plumbing fixtures and ceramic shower surrounds – but is still affordable.” The new space will share some of the traditional look of South Ridge, but with its own touches. “As we move forward with each of our projects, we know what works well, but also know that trends change,” said Krapf. “We’re constantly evolving – adapting to the market and our clients’ needs with every new project.”
A long-term commitment to its properties and tenants Since Capano Residential both develops and manages properties, the company puts a premium on quality. “We don’t build and sell; we build and maintain,” said Krapf. “We put up a quality product because five, 10 years into the future, it’s still going to be our responsibility. That’s a commitment you don’t get with a company that is building with the intent to flip. We’re in it for the long-run.” Capano Residential also has rental communities in Claymont, Lewes, Newark, Ocean View and Wilmington, Del., as well Coral Springs and Vero Beach, Fla. “With all of our properties, we want to create a sense of place and community,” said Krapf. “We’re building places people call ‘home.’”
About Capano Management Capano Management develops distinctive office buildings, vibrant retail destinations, and quality multi-family housing and residential communities in Delaware and Florida. Our diverse real estate interests also include two construction divisions and hospitality businesses. Founded in 1947, we remain family-owned and family-led. With a focus on community, we pride ourselves on endeavors that create enduring value for generations to come. Capano Management Residential communities in Delaware and Florida include more than 6,000 existing and pending luxury rental units in more than 20 upscale communities. Learn more at capanoresidential.comGo back