RI Invests $5M In Affordable Housing Redevelopment Projects

Cranston RI

01 April, 2022

4:57 PM

Description

PROVIDENCE, RI — The state will invest $5 million towards revitalizing blighted and vacant properties in Providence and Central Falls, Gov. Dan McKee's Office announced Friday. The funding will go towards 42 rental homes and a new public facility. "When Rhode Island voters went to the polls in 2021, they understood the positive impact affordable housing and community revitalization can have on our state," McKee said. "I thank them for having the foresight to recognize the kinds of long-term and strategic investments that Rhode Island needs." The money comes from the $65 million bond for affordable housing and community redevelopment passed by Rhode Island voters last March. RIHousing was designated to administer the program, using $15 million to redevelop blighted properties. "Replacing nuisance properties with community assets such as affordable housing units is a win-win for our residents," Lt. Gov. Sabina Matos said. "I applaud our voters for supporting these investments and our community partners for leading this important work." The following projects were selected from the pool of applicants: Community Music Works Center, Providence: Funding for a new, 24,000 square foot community facility at 1326 Westminster St., including performance space, classrooms, a music library, administrative offices, and a ground floor café open to the public.Copley Chambers Phase I, Providence: The project will convert the blightewd historic building at 206 Broad St. into a mixed-use space including 26 affordable housing units, commercial space and supportive services for residents earning between 30 percent and 80 percent of area median income. The building is on the National Register of Historic Places.Hannah Homes, Providence: The project will demolish existing buildings and build three two-family homes. Central Street Phase II, Central Falls: The project will redevelop an existing building and vacant lot into 10 affordable nits with three bedrooms each. They will be designated for homeless youth transitioning out of foster care.