The Falls Begins Leasing Second Building as First Fills With Residents
With The Falls first building open and filling with residents, apartments are starting to be leased for the second, expected to welcome new occupants within months.
The multifamily Capano project, built on the site of the old Bancroft textile mill along Brandywine Creek, has already sold out of studio and three-bedroom units, many of which overlook the creek and face Alapocas State Park.
Those leasing the units follow the national renting trends, says Christie Haupt, director of multifamily development for Capano Management Co.
A lot of the studios are going to younger people who want a place downtown that doesn’t feel downtown and is loaded with amenities, she said.
“I think a lot of young professionals are working a lot of hours. So it’s really a place to sleep,” Haupt said.
Lots of empty nesters are downsizing, she said.
“They’re selling their homes and they’re looking for a place to live that has little to no maintenance so they can enjoy life, travel, but have a place where they have all their belongings,” Haupt said.
“It really gives them the freedom to do what they’d like without having to worry about the maintenance of home.”
The apartments they’re getting are open and light-filled with wood plank flooring throughout and finishes that designers chose to reflect the area and the heritage in the site, including Delaware blue gneiss in the outside walls.
Haupt describes the interior design as an updated traditional look.
The kitchens have navy base cabinets, “which is definitely not your standard but feels a little more custom, less cookie cutter,” she said. Countertops are marbled quartz with Carrara marble backsplashes. Hardware is matte black with aged bronze lamps. The gas range features five burners with one under a griddle, and each kitchen has a sizeable pantry.
“So some of those classic materials with just a new modern twist to feel fresh and new,” she said.
A tour of the two-bedroom shows huge walk-in closets in both the master and second bedroom, big baths in both and a stacked washer and dryer in a hall closet. The master bedroom has floor-to-ceiling windows that open onto a balcony overlooking the water in one direction and the soon-to-be landscaped cliffside on the other.
“No matter what side you’re on, the views are spectacular,” Haupt said. “Whether you’re on the top or the lowest floor, the views are just incredible.”
Roller shades that disappear into the window sill help control light and offer even more privacy, although none of the units have sight lines to each other.
The complex offers street parking, but leases a few inside garage spots.
The four-story buildings also come with 10,000 square feet of amenity space inside and 14,000 outside, all of which will be located at the now-leasing second building.
Indoors that includes a fitness center, yoga studio, library quiet space and a mezzanine-level overlook. All were designed with floor to ceiling windows to showcase the view. Nooks and niches are tucked into several areas.
Outdoors, there will be a swimming pool, sun deck, barbecue area, fire pit and a terrace-level river deck with lots of seating and space for outdoor TVs. The river deck will be built on the existing mill foundation.
“So there’s a lot of space that could be used as an extension of your home here,” Haupt said. “I think a lot of people are interested in outdoor space right now, especially with COVID.”
The Falls offers 14 floor plans.
Prices depend on the floor plan of the unit, which side of the building it’s on and what floor it’s on.
A studio starts at about 600 square feet and rentals start at $1,450 a month. A one-bedroom ranges from 637 square feet to 1,118 square feet and rentals go For $1,600 to $2,150 a month. A two-bedroom ranges from1,269 square feet to 1,368 square feet, with rentals starting at $2,400. A three-bedroom is 1,531 square feet, always in a corner unit overlooking the water, and ranges from $2,900 to $3,300.
The Falls is one of 14 Capano multifamily projects. It’s been underway since 2016 and building began two years ago. The first building, which opened in February, included 96 units, and when the second is open, the complex will offer 181.F
The final two buildings of the project are winding up the design process. When they’re open, The Falls will boast 346 units. Haupt expects the newer buildings to include more three-bedroom units than were originally planned since they were so popular.
The location doesn’t hurt The Falls.
It’s quiet, and being located across the creek from Alapocas State Park means that property is unlikely to ever be developed.
“It’s just very different for city living,” Haupt said. “You would never expect this to be in city limits, just a few blocks from Trolley Square. You’re not staring at office buildings, are you? It’s just nestled back here in this secluded little niche. This does not feel like city living.”
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