Chesapeake Community Advisors

Governor William Tharp Building

Governor William Tharp Building

The Governor William Tharp Building, more commonly know as the Tharp-Jewell House & Store, is one of the key structures of Delaware's North Milford Historic District, and is recognized as a building of historical significance by the National Park Service and the Delaware State Historic Preservation Office.

After several years of restorative work, this prior vacant building is now ready to house five families and three commercial office tenants. Simpson Properties Tharp, LLC acquired the property from the Milford Historical Society under a historic preservation easement.

As financial advisor, CCA provided advice on financing options, ownership structure and negotiating the terms of tax credit investments.

Project Details

Development Type: Historic Rehabilitation
Number of Units: 8
Type of housing: Family Apartments and Commercial Office Space
Total Development Cost: $1.1 Million
Financing: Conventional First Mortgage, Federal and State Historic Tax Credits, Grant awared by Downtown Milford, Inc.
Location: Milford, Delawre
Project Start: January 2005
Project Complete: March 2007
Development Role: Financial Consultant
Unit Mix: 5 Apartment Units and 3 Commercial Offices
Architect: LJ Miles Architecture & Interior Design
Contractor: Roberts Construction Company
Developer: Dan Bond
Owner: Simpson Properties Tharp, LLC
Investor: Corporate Investor
Lender: Artisans' Bank and Discover Bank

33 South Gay Street, Suite 200, Baltimore, Maryland 21202 (p)410-685-6005