Wellington Ridge - Chester, PA
Provided ServicesDevelopment Assistance and Advisory Services Private/Public Financing Assistance
In 1998, RHG guided the CHA to win a $9.7 million HOPE VI grant for the revitalization of McCaffery Village, now renamed Wellington Ridge. RHG supervised the entire HOPE VI redevelopment.
The residential portion of the redevelopment included the demolition of 350 ramshackle and obsolete rental units on site and the construction of 22 buildings with 110 new rental units. The 22-acre Wellington Ridge site now includes:
- 86 privately developed and managed family rental units
- 24-unit three-story building for elderly residents
- 26 on-site homeownership units and 50 off-site homeownership units in the adjacent blighted community of Highland Gardens, now called Wellington Heights
This project combined a wide range of funding sources that included:
- Planning grant
- HOPE VI funds
- Public housing capital funds
- Low-income Housing Tax Credits
- PennHOMES Loan from PHFA
- Federal Home Loan Bank funding
- Construction financing from Sovereign Bank
- Public housing operating subsidies
- Homebuyer assistance from the City of Chester
- Conventional mortgage financing to be obtained by homebuyers themselves
A final component of the Wellington Ridge HOPE VI project is the Shops at Wellington Ridge. These shops will be comprised of a 125,000 square foot retail center developed on a twelve acre vacant parcel owned by Chester Housing Authority (CHA) which, will include the construction of the first new retail complex to be built in Chester in the last 35 years.
CHA will be a limited partner in return for its land, owning a 33% interest. The development will create at least 200 jobs for local residents.