- Location: Chester, Pennsylvania
- Number of Units: 86 family rental; 24 senior; 26 onsite homeownership; 50 offsite homeownership
- Total Development Cost: $35 million
- Status: Complete
D+B was part of the joint-venture team for the $35 million Wellington ridge development. The overall revitalization, which was funded through a wide range of public and private funding sources, will also include a 125,000 square foot retail center—The Shops at Wellington Ridge—that will provide a grocery store and other essential services sorely lacking in this formerly blighted neighborhood.
As a development partner on Wellington ridge, D+B was responsible for overall financial analysis and maintaining the master budget throughout the life of the project. The firm authored the mixed-finance proposals and worked closing with the housing authority and HUD to obtain approvals for the rental and homeownership components.
The Wellington Ridge community includes new rental apartments—86 family units and a 24-unit senior building—as well as 26 new homeownership units on site, as well as the redevelopment of 50 units in the adjacent Highland Gardens neighborhood. D+B worked closely with a marketing consultant on the homeownership phase with remarkable results: Homes were sold out even before the completion of the model unit, a testament to the long-term viability of this initiative.
For more detailed information on this and other D+B development projects, please download our full Development Qualifications document.