Lighthouse Cove Entering Next Phase of Redevelopment
October 25, 2016
October 7th, marked the groundbreaking for the next phase of the multi-use Lighthouse Cove Dewey Beach.
The Lighthouse Cove Development Company (LCDC) recently announced that the next phase of development of the multi-use Lighthouse Cove Resort project to commence this month, adding 27 additional bayside luxury condominium units, known as The Residences at Lighthouse Cove, expanded parking garage, a sunset Gazebo on the expanded Van Dyke public bayside beach and rooftop pool.
The Lighthouse Cove, situated on the bay side in Dewey Beach, is just one block from the Atlantic Ocean and offers beautiful views of Rehoboth Bay. As recently as 2006, the site was slated to become a gated, closed townhome community that would have forever precluded public access to Rehoboth Bay. At that time, the Town of Dewey Beach invited our company, Dewey Beach Enterprises/Lighthouse Cove Development Company, to consider alternatives, including a mixed-use commercial-and-residential resort project that would concurrently incorporate amenities the Town had sought for decades and would align with the Town’s comprehensive plan.
Thomas Harvey, III spoke at the ground breaking, sharing, “This is an exciting time to own property in Dewey Beach, because, as is famously said, ‘A rising tide lifts all boats.’ Shoulder season activity has accelerated in conjunction with the collaborative marketing efforts of the Town of Dewey Beach, the Dewey Business Partnership, and our Hyatt Place sales and marketing team. We are proud to be part of this shared effort.”
The mixed-used redevelopment project has already had a great impact on the community, and LCDC is happy to have award-winning, family-owned-and-operated Nason Construction, Inc serving as the General Contractor of the Lighthouse Cove project’s next phase.
“We are excited and proud to be working with such a quality company like Nason Construction,” said E. Thomas Harvey III, President of LCDC. He went on to share, “Their vision and commitment to quality, integrity and customer service is consistent with our business principles. This collaboration will continue our delivery of a quality product for Dewey Beach and the regional tourism industry.”
Nason Construction has been providing construction management, design-build and general contracting services since 1922 across three Mid-Atlantic regions (Wilmington DE, Philadelphia PA and the Delmarva Peninsula). The company’s impressive portfolio encompasses a wide range of sectors; educational, medical, corporate, government retail and more.
M&T Bank’s Manager of Commercial Real Estate in Delaware, Allison Kerwin said, “The Lighthouse Cove project is an exciting development in Dewey Beach that will transform part of the waterfront along Rehoboth Bay. As a community-focused bank, we are pleased to support development like this that provides quality residential options.”
M&T Bank will be providing the financing for this next stage of the redevelopment project.
The Residences at Lighthouse Cove experienced great success with its initial phases. The First phase of luxury condos are sold out – which has created a strong demand for the new units currently under construction. To date, 23 units have sold.
The multi-phased project is comprised of new luxury bayside condominiums and a world-renowned “award-winning” Hyatt Place Hotel (2016 Best Hotel in Sussex County- Coastal Style Magazine), two award-winning restaurants (Que Pasa Mexican Restaurant and The Lighthouse Restaurant) and commercial retail space. The Hyatt Place Hotel offers five-star accommodations, a 21st century conference center with banquet facilities and meeting space, and ample parking.
The Lighthouse Cove project has expanded the public bayside beach and brought hundreds of full-time, part-time and seasonal jobs to the community. It has added some quality restaurants, increased the community’s revenues and introduced resort-style living to the Dewey Beach area formerly known as Ruddertown.
Dewey Beach is an ideal blend of beach cottages, boutique shops and fine dining establishments. Dewey Beach, known for its family friendly beaches and award winning water quality, offers a way of life for all ages.
The Residences at Lighthouse Cove has brought new life to the area. Enjoy summer in style at The Residences at Lighthouse Cove. Call to set 302-212-0002 up a private showing or visit: www.theresidencesde.com