Wednesday, June 12, 2024
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Delaware State University Gifted $4.7 Million Property


Delaware State University (DSU) has accepted an unusual gift from one generous donor — a six-story Wilmington building valued at around $4.7 million.

The school said it plans to use the facility donated by Capital One to expand its program offerings and create more opportunities for students. In return, DSU said it would help the company encourage students to pursue careers in technology, business, and product development at Capital One.

According to DSU President Tony Allen, the donation will allow the school and Capital One to reach more young people in Wilmington and create an “innovative pipeline to college and career.” He explained that the new facility will help the university to offer courses and workforce development training in an accessible location.

Built on 35,000 square feet, the building will initially be utilized by graduate, adult, and continuing education students. It will also house a workforce development center and an incubation hub for micro and small businesses.

The 146-year-old facility went on the market in 2018 when Capital One ceased using it. The company said that although some businesses showed interest in acquiring it, the COVID-19 pandemic greatly affected the market.

Championing Educational Equity

Capital One’s Delaware Market President Joe Westcott said the company is proud to be investing in DSU. He stated that the university has proven its capability to create innovative career pathways for students, champion educational equity and academic excellence.

US Senator Chris Coons expressed his excitement after learning about the donation, saying the new facility will help students prosper and elevate the stature of DSU as one of the country’s premier public Historically Black Colleges and Universities (HBCUs).

“As we work to deliver this transformational support for campus infrastructure, I’m thrilled to see Capital One and Delaware State partnering together to pave the way for future generations of Hornets to learn and grow along the Wilmington Riverfront,” he stated.

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