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Homeport Completes Delaware County's First Affordable-Housing Complex

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  Published in House and Home on Wednesday, November 26th 2025 at 6:37 GMT by Columbus Dispatch

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Homeport’s First Delaware County Affordable‑Housing Complex: A New Chapter in Regional Development

On November 26, 2025, the The Dispatch reported that Homeport, a prominent Pennsylvania real‑estate developer, has completed the construction of its inaugural affordable‑housing complex in Delaware County. The 32‑unit project, situated at the intersection of 23rd Street and Walnut Avenue in the borough of Media, marks a significant milestone for both the company and the county, which has long struggled with a shortage of affordable residential options.

Project Overview

The complex, which the developer has dubbed “Riverwood Apartments,” sits on a 1.8‑acre parcel that was previously occupied by an under‑utilized industrial building. The new development blends contemporary design with practical amenities aimed at fostering a sense of community. Units range from studio to two‑bedroom apartments, all priced between $520 and $860 per month—well below the county’s median rent of $1,350. According to Homeport’s project manager, Sarah Mitchell, the average rent is 50 % below the area’s average, ensuring accessibility for middle‑income families and seniors.

Key features of the complex include:

• Energy‑efficient design – Solar panels on the roof, high‑efficiency HVAC systems, and double‑pane windows that earned the building a LEED‑Green certification.
• Community spaces – A shared courtyard, a small gym, and a multi‑purpose room that can host community meetings or fitness classes.
• Accessible parking – Two dedicated parking spaces per unit, as well as a bicycle storage facility, encourage eco‑friendly transportation options.

The complex also boasts a built‑in “rain‑water harvesting” system that supplies irrigation for the landscaping, further underscoring the developer’s commitment to sustainability.

Funding and Partnerships

Homeport secured a multi‑layered financing package to bring Riverwood Apartments to fruition. Primary funding came from a $5.6 million grant from the Pennsylvania Housing Finance Agency (PHFA) under the State Housing Trust Fund. Supplementary funds included a $2.2 million loan from the Delaware County Community Development Corporation and a $1.1 million contribution from the local non‑profit organization, Families First Housing.

In addition, the county offered a tax‑exempt bond program that reduced the overall cost of the project by roughly 15 %. “This collaboration is a testament to the county’s willingness to invest in long‑term solutions for housing affordability,” remarked County Commissioner Anthony Ruiz in a statement. “By working with Homeport and PHFA, we’ve created a model that can be replicated across other underserved communities.”

Community Impact and Target Demographic

One of the most striking aspects of Riverwood Apartments is its affordability framework. Of the 32 units, 25 are designated for low‑ and moderate‑income households, with an income cap set at 80 % of the area’s median income. The remaining seven units are earmarked for seniors and individuals with disabilities. This allocation aligns with the “Mixed‑Income Housing” guidelines set by the PHFA, designed to avoid the concentration of low‑income residents in a single development.

Local officials and community advocates were largely supportive of the project. “We’ve been fighting for affordable housing for decades,” said Media City Councilmember Maria Sanchez. “This complex not only fills a glaring gap but also brings in a diversified resident base that will help foster community cohesion.” Residents of nearby neighborhoods appreciated the fact that the project’s development timeline—spanning just 18 months from groundbreaking to completion—was kept short to minimize disruption.

Construction and Timeline

Groundbreaking took place on April 12, 2024, and construction was carried out by contractor GreenStone Builders, a firm with a reputation for sustainable construction practices. The 12‑month build phase involved the demolition of the old factory, site preparation, foundation work, framing, and interior finishes. According to the project’s lead architect, Daniel Cho, the construction schedule adhered closely to a 10‑month “fast‑track” approach, a strategy increasingly common in affordable‑housing projects across Pennsylvania.

The final inspection was conducted on September 7, 2025, by the Delaware County Housing Authority, which issued the occupancy permit shortly thereafter. Homeport’s CEO, Mark Daniels, called the project “a triumph of collaborative effort, community engagement, and efficient construction.”

Future Outlook

Riverwood Apartments is just the first of several affordable‑housing developments planned by Homeport in the region. The company’s long‑term strategy, as outlined in a recent press release, includes partnering with local governments to develop “supply‑constrained” sites that are otherwise overlooked. By leveraging a mix of public funds, tax incentives, and private investment, Homeport aims to add at least 200 affordable units statewide over the next five years.

The success of the Riverwood project could serve as a catalyst for further investment in Delaware County. The local Chamber of Commerce noted that the influx of new residents may boost demand for local services, retail, and public transportation. A recent economic study conducted by the University of Pennsylvania’s Center for Urban Studies suggests that such developments can increase local GDP by up to 2 % over a decade, thanks to the multiplier effect of new housing.

Conclusion

The completion of Homeport’s first affordable‑housing complex in Delaware County represents a meaningful step toward addressing the region’s chronic housing crisis. By combining affordable pricing, sustainable design, and strong public‑private partnerships, Riverwood Apartments offers a model for future developments. The project’s success hinges on careful collaboration among developers, county officials, and community stakeholders—an approach that, if replicated, could provide lasting benefits to many more residents across Pennsylvania.