The Riverfront Alliance is committed to improving the quality of life for Chester residents through the community development and the expansion of economic opportunities in Chester and neighboring waterfront communities.
Community Development
The Chester Economic Development Authority (CEDA) and the Riverfront Alliance of Delaware County (RADC) have formed a collaboration designed to improve the quality of live for Chester residents and expand economic opportunities for businesses located in Chester and neighboring waterfront communities. RADC is a 501(c) 3 organization made up of private sector corporations and non-profit institutions who are working together to implement physical, economic, and social programs to stimulate the development of the Delaware County waterfront. Chester initiatives include the purchase and installation of security cameras, an employer assisted housing program to help employees purchase a home in the City and help existing homeowners with exterior repairs, and the development of a Waterfront Master Plan to be used as a tool for economic development. CEDA is providing the managerial and administrative support necessary to carry out those initiatives. CEDA and RADC have also partnered with Chester Community Improvement Project to develop four (4) new units of affordable housing known as the Arbor Estates development.
Middle Neighborhoods
RADC is pursuing a middle neighborhoods concept as a housing development strategy. Middle neighborhoods are relatively stable communities which have the possibility of either increasing in value or declining due to disinvestment. The Nova Vista and Irvington Hills communities, located north of I-95, fall into this category. These residential neighborhoods are predominately owner-occupied but are starting to show signs of deferred maintenance as well as conversions from homeownership to rental properties. Funding from private grants and State tax credits will allow RADC to invest in exterior improvements that will act to stabilize the few remaining homeownership neighborhoods in Chester. These strategic investments will serve to enhance curb appeal in these low/moderate income neighborhoods. Moreover, it will support the significant investment being made in the development of the four (4) new homes at Arbor Estates located in the Nova Vista neighborhood.
Employer Homebuyer Assistance Program (EAH)
The Employer Homebuyer Assistance Program (EAH) encourages Chester-based employers to provide financial incentives for their employees to purchase homes in the city. Since 2008, seven Chester-based employers have provided financial incentives through EAH, normally in the form of forgivable loans averaging $5,000 each. This program has provided affordable housing for 23 households since its inception, and has involved primarily large-scale employers that can forgive the loan balance after five years. Based on feedback from current partners and collaborating businesses, The Riverfront Alliance has identified the need to expand EAH services and design a more flexible program that is appropriate for the resources of small- and mid-sized employers.
The Riverfront Alliance is committed to expansion of the Employer Assisted Housing program because we believe homeownership creates real and intrinsic value in stabilizing neighborhoods and communities. Further, homeowners have the potential to build equity in their properties, providing an opportunity to accumulate a financial asset.
Currently the following members offer an Employer Assisted Housing program: Chester Housing Authority, Chester Water Authority, Crozer-Keystone Health System, Delcora, Delaware County Community College, Harrah’s Chester Casino, Health Mats Company, and Widener University.
For Employers:
EAH Benefits:
- Reduced turnover costs
- Greater retention
- Attractive recruiting feature
- Controlled expense-set budget amount
- Community revitalization
- Eases tardiness and sick leave use
- Strengthens loyalty and morale
EAH Documents:
For Employees:
EAH Benefits:
- An interest rate one quarter percent (1/4 %) lower than the qualifying program rate.
- Combining the Employers benefit with a PHFA mortgage could save the employee thousands of dollars over the life of the mortgage loan. See: the PA Housing Finance Agency website for more information.
EAH Documents: