PA Homes at Riverside

Homes at Riverside
1029 Weiser St., Reading, PA 19601

46 Units
General Occupancy
Placed in Service: 2016

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 including funding from both the City of Reading and Berks County. Other sources of funds include tax credit equity, two conventional loans, and a general partner equity contribution.

Source of Funds:

• Low Income Housing Tax Credit (LIHTC) Equity
• City of Reading HOME Investment Partnership (HOME) Program
• Berks County HOME Investment Partnership (HOME) Program
• Conventional Permanent Loan
• Conventional Construction Loan