PA Granite Ridge

Granite Ridge
125 Stewarts Lane, Kennett Square, PA 19348

56 Units (Phase I), 56 Units (Phase II)
General Occupancy
Placed in Service: 2014 (Phase I), 2015 (Phase II)

Granite Ridge is a two-phase project located in affluent Kennett Township, Chester County. This project was unique in two respects. First, new affordable 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 incorporated into a single building that gives the impression of a Chester County farmhouse. Additionally, half of the units include garaged parking within the apartment building. Finally, the project provided 24 acres of permanently preserved open space.
Granite Ridge was awarded Honorable Mention at the 22nd Annual Charles L. Edson Tax Credit Excellence Awards from the Affordable Housing Tax Credit Coalition in Washington, D.C.

Source of Funds:

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