Groundbreaking Held For $26.6M George Read Village Redevelopment In Newark

The construction for the Newark redevelopment is now underway.

A major affordable housing redevelopment is underway in Newark as officials broke ground last week on the George Read Village project, a $26.6 million initiative that will bring 72 affordable housing units to the city, including 18 new homes.

“It is my hope that this is just the beginning of a new era of commitment to this great need. It shows what can be accomplished when dedicated visionaries work hard and long toward a common goal for the good of a community and its deserving people,” said Marene Jordan, executive director of the NHA.

The project, led by the NHA in partnership with developer Ingerman, will replace an aging residential structure along Main Street with a modern, mid-rise, mixed-use building and five new family cottages.

The new units will be available to households earning between 30% and 50% of the Area Median Income (AMI), aiming to meet the needs of low-income families in a city known for its student-dominated housing market.

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Nikki Lane, chair of the NHA Board of Commissioners, noted the project’s importance in balancing the city’s housing landscape.

“This project will not only improve the need for affordable housing, it will enhance the diversity of the City of Newark, which is a unique college town with a strong emphasis on student housing,” she said. “Developing for individuals and families is refreshing,”

The redevelopment has received a wide range of funding support, including:

$5.39 million from the Delaware State Housing Authority
$3.985 million in federal American Rescue Plan Act (ARPA) funds
$1 million in New Castle County HOME program funds
$431,000 from the city of Newark
$1.06 million in Low Income Housing Tax Credits, generating roughly $10 million in equity

“This redevelopment of George Read Village shows what can happen with collaboration, investments and vision. Bringing 18 new units to this area of Newark will have a meaningful impact on the community and address our critical housing supply issues,” said Delaware State Housing Authority (DSHA) Director Matthew Heckles.

New Castle County Executive Marcus Henry called the project “a commitment to the people we serve,” emphasizing its role in providing safe and dignified housing.

David Holden, Development Principal at Ingerman, credited strong community support and partnerships for helping the project reach this stage.

“After much success with The Willows at Alder Creek, Ingerman is thrilled to partner once again with the Newark Housing Authority to bring additional high-quality affordable housing to the people of Newark,” Holden said. “We could not have reached this important milestone without the community’s support and our collaboration with the DSHA, city leadership and staff who share our vision to expand and improve the City’s affordable housing offerings,”

Construction is now underway, with officials hopeful the new development will serve as a model for future affordable housing projects across the state.

“The Newark Housing Authority is greatly appreciative to all those who contributed their time, efforts, talents and funds in bringing this to a reality,” Jordan said. “It is my belief that this will not be the last project and groundbreaking event for a deserving group in our community and the Newark Housing Authority will always be steadfast in its goal of greater achievements.”