Housing Developers Wanted in Riverside
27 Dec 2021
Scheduled to open in early 2025, the 255,000 sq. ft. expansion of our neighbor, Wright-Patterson Air Force Base (WPAFB) guarantees an expansion to the workforce. According to Senator Rob Portman, WPAFB’s current personnel of just over 30,000 will increase to 35,000 during the next few years. With new employees come new residents creating demand for housing. Residential developers will benefit looking to Riverside with available and affordable land options.
Since the announcement of WPAFB’s expansion, Riverside has gone from 28th to 21st in “Dayton’s Top 50 Places to Live,” and climbing. Population increased, as did median home values, median rents, and the ratio of homeowners-to-renters. Traction has begun!
Housing Development Sites Available
Two residential projects are in the planning review process, Glendean Multi-Family and Northern Circle, Major Subdivision, both within a 15-minute drive of the Base:
- Glendean Multi-Family offers 14.35 acres and is located near Stevenson Elementary School.
- Northern Circle, Major Subdivision offers 30 acres and is located just behind Thomas A. Cloud Park, also adjacent to Dayton, Ohio.
These three locations are for sale, each within a 15-minute drive WPAFB:
- 2512 Harshman Road offering 1.8 acres
- 2520 Harshman Road offering 3.0 acres
- 4740 Linden Ave., offering 13 acres
More than half of the staff at WPAFB live on the Base. The others commute from within and outside of Riverside. Over 4,000 people commute into Riverside from a different city. These employees could benefit from living within Riverside and improve their work-life balance simply by reducing their commute.
Housing Market Projections
According to Sharon Geier, board president of the Dayton Area Board of Realtors, “Two driving factors for this hot market are low interest rates and fewer homes on the market than there are buyers. … I see higher home prices maybe cooling the market a bit, but from red hot to only medium hot. … More millennials than ever are looking for homes right now. They’re looking for houses in all price ranges.” Riverside currently has a millennial population of 17% and is likely to grow with the Base expansion.
“There is so much demand that is pent up. We have clients that have been looking for over a year. We don’t see this high demand environment changing for a while,” said Austin Castro, realtor at Coldwell Banker.
For more information and to discuss the best options for your housing development needs, contact Lori Minnich via email firstname.lastname@example.org or call 937-233-1801, option 3.