The Helm and Deemer's Landing Apartments will be preserved as a high-quality asset for essential workers in New Castle, Delaware

CAMDEN, NEW JERSEY / ACCESS Newswire / December 18, 2025 / The Michaels Organization, a national leader in residential real estate and the country's largest privately held owner of affordable housing, has acquired The Helm and Deemer's Landing Apartments. A significant expansion of Michaels' Attainable Housing portfolio, the acquisition will preserve 220 units of much-needed middle-income housing in New Castle, Delaware.

"As housing costs continue to outpace wage growth across the Mid-Atlantic, this acquisition ensures that this community remains an asset to the neighborhood and continues to provide high-quality, stable housing for essential workers, including teachers, healthcare professionals, and first responders who often earn too much for traditional housing subsidies but are priced out of luxury market-rate rentals," said Kunal Chothani, The Michaels Organization's Senior Vice President of Acquisitions.

The Helm and Deemer's Landing comprise two apartment buildings, offering 220 apartment homes, along with modern amenities and a prime location in the heart of Old New Castle for the local workforce. Under the new ownership, Michaels will leverage its full-service capabilities - spanning investment, property management, and resident services - to ensure the community remains a vital, high-quality asset for the New Castle region.

Michaels, which is headquartered in Camden, New Jersey, has long been active in developing and managing communities in Delaware. By focusing on acquisitions as well as development, Michaels is spearheading solutions that expand housing opportunities for those who are often priced out of the areas where they want to live and work.

About The Michaels Organization

Michaels is a national leader in residential real estate, offering full-service capabilities in development, property and asset management, construction, and investment. Serving more than 200,000 residents in more than 600 communities across 39 states, the District of Columbia, and the U.S. Virgin Islands, Michaels is committed to crafting housing solutions that jumpstart education, civic engagement and neighborhood prosperity, and to creating Communities That Lift Lives.