Granite Ridge - Delaware Valley Development Company

Granite Ridge

125 Stewarts Lane, Kennett Square, PA 19348
Granite Ridge, Phase I: 56 Units
Granite Ridge, Phase II: 56 Units
General Occupancy

Sources of Funds

  • Low Income Housing Tax Credit (LIHTC) equity
  • Conventional Construction Loan
  • Conventional Permanent Loan

Project Description

Granite Ridge is a two-phase project located in affluent Kennett Township, Chester County. This project was unique in two respects. First, new affordable family housing in Chester County, and particularly in the wealthy southern part of the County, is extremely rare. Second, the architectural concept of this project was thoughtfully designed to be sympathetic to the surrounding community. Utilizing a "Big House" design, 8 units were designed into a single building that gives the appearance of a Chester County farmhouse. Additionally, half of the units include garaged parking within the apartment building. Finally, the project provided 24 ares of permanently preserved open space.

Granite Ridge was awarded Honorable Mention at the 22nd Annual Charles L. Edson Tax Credit Excellence Awards from Affordable Housing Tax Credit Coalition in Washington, D.C.

Project Status: Completed 2014