In a very encouraging development,  Incyte recently filed a form 10-Q with the SEC in which it says that it does not expect to close on its planned purchase of the Wilmington Lower School parcel.  Simultaneous with this announcement, Incyte wrote off $5.6 million in assets related to the planned development.  More recently, the New Castle County Department of Land Use announced that it is recommending that New Castle County Council remove the lower school parcel from the comprehensive rezoning ordinance and require that any future rezoning of the parcel be accompanied by a development plan.

These developments go a long way toward ending Incyte’s proposed overdevelopment of the lower school parcel.

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