We're moving forward on two affordable housing developments, thanks to $5.1 million in awards from the State's Housing Resources Commission.
The State awarded $3,455,000 for The Avenue, our newest development, which will include 39 new apartments in the Federal Hill neighborhood and the preservation and renovation of 46 existing apartments in the Elmwood neighborhood of Providence. We are seeking other funding now for the $24 million development.
The State also awarded $1,676,000 for the Residences at Riverside Square in East Providence. The development, known as the “old Vamco site” at Bullocks Point, will create 16 new affordable apartments for extremely low- to moderate-income households, three of which will be reserved for youth aging out of foster care. The redevelopment of this site will revitalize a long-vacant and blighted property adjacent to the East Bay Bike Path.