With inventory in the Philadelphia region at historically low levels, homebuilders are targeting Chester County for new development projects, writes Ryan Mulligan for the Philadelphia Business Journal.

Currently, new construction homes account for almost half of the properties available in the state’s most affluent and land-rich county.

Last year, the Chester County Planning Commission received applications to construct 4,366 new single family, apartment, and townhome units. This is almost three times as many as in 2022, when developers submitted applications for 1,549 units.

Increased demand for homes certainly justifies the boosted development. For example, West Chester was recently named the most popular market of 2023 in the nation by Zillow.

In addition to extremely low inventory, the other factors that are driving developers to consider Chester County for new home construction include the available larger swaths of land and low population density.

Also, Chester County’s population is expected to grow by 6.9 percent by 2050, which further underscores demand.

“You put all of those factors together and you’re going to see new development,” said Brian O’Leary, executive director of the Chester County Planning Commission.

Read more about the development projects planned for the county in the Philadelphia Business Journal.

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