Homes at Riverside - Delaware Valley Development Company

Homes at Riverside

1000 Block of Weiser Street, between West Spring Street and West Robeson Street, Reading, PA
46 Units

General Occupancy

Sources of Funds

  • Low Income Housing Tax Credit (LIHTC) equity
  • City of Reading HOME Investment Partnership Program
  • Berks County HOME Investment Partnership Program
  • Conventional Construction Loan
  • Keystone Opportunity Zone Loan
  • Geothermal and 45L Tax Credits
  • Conventional Permanent Loan

Project Description

Homes at Riverside is a 46-unit development ideally located next to Northwest Middle School in Reading, PA. Consisting of two- and three-bedroom units, the community is geared toward smaller families. Despite being located in a Qualified Census Tract, a Keystone Opportunity Zone, an Early Intervention Community, and an Act 47 Community, Homes at Riverside is the only general occupancy affordable community in the Primary Market Area. The financing structure includes funding from both the City of Reading and Berks County. Other sources of funds include tax credit equity, two conventional loans, and a general party equity contribution.

Project Status: Completed 2017