The entire Riverside redevelopment initiative contemplates (i) constructing 600+ high quality mixed income housing units to replace the existing 293 units of the Riverside public housing project, (ii) enhancing and expanding the existing facilities and programs of EastSide Charter School and Kingswood Community Center to establish a “cradle to college/career readiness education pipeline” to serve the community, and (iii) providing health, wellness and safety facilities and programs for the neighborhood. REACH is one of only 21 network affiliates in the nation of the nationally renowned Purpose Built Communities.
In 2022, HUD awarded the Wilmington Housing Authority and the City of Wilmington a Choice Neighborhood Iniaitive Grant for the Northeast Wilmington Transformation Plan (NEW Plan). The plan is focused on the redevelopment of the severely distressed Riverside public housing site, into a mixed-income, mixed-use community providing a range of housing choices. This initaitive builds upon the growth of Imani Village I & II. The Choice Neighborhoods Housing Plan completes the build out of the site in five remaining phases of development, delivering 552 mixed-income rental units. The master plan includes ground-floor retail, an open space plan centered around a new Town Green with playground and adult fitness amenities, and a central gateway at a new 26th Street extension that welcomes new residents and connects the site to the main commercial artery, Northeast Boulevard.
The first and second phase of the Riverside Initiative included the construction of 127 new units of high-quality, rental housing, and outdoor amenities including green space, a gazebo, community building, a tot lot and raised gardening plots. The Wilmington Housing Authority (WHA) owns the land and ground leases the property to Pennrose, who owns and manages the property.
The third phase of the Riverside Initiative, Imani Village Phase III, includes the construction of 163 new units of high-quality, rental housing, and outdoor amenities including green space, a gazebo, and raised gardening plots. 109 units will be income restricted under the Low Income Housing Tax Credit program and 54 will be “Workforce Housing” underwritten to be affordable to households under 80% of AMI, but not income restricted. Approximately 80 units of affordable housing will be subsidized by the Wilmington Housing Authority using the Section 18 RAD/PBV blend program. 9 units will be set-a-side for special needs residents including veterans and disabled. The WHA owns the land and will ground lease the currently vacant property to a to-be-formed affiliate of Pennrose LLC who will construct, own and manage the apartment units.
Additional phases are in pre-development.