One of Wilmington's historic downtown buildings, known through the years because of the companies and organizations that occupied it, will soon become an artist loft apartment complex known as ‘Shipley Lofts,' part of the new trend toward downtown living and recreation.

The property at 701 Shipley Street had been owned by Sts. Andrew and Matthew for at least 10 years until it was transferred recently to the Shipley Village Community Development Corporation, the community development arm of the Church.

When completed, Shipley Lofts will contain 23 loft apartments, each equaling 886 square feet. Each unit will have a studio/living room area, fully-equipped kitchen and bathroom. The building will also feature a first floor gallery for art shows and displays, for both residents and artists from the local community.

Visual and performing artists are the target population for the building, although occupancy is open to everyone. The monthly rent for a loft apartment is expected to range between $650 and $750.