PROVIDENCE, R.I. (WPRI) — State leaders announced Thursday that more than $100 million in funding has been approved to help combat the housing crisis in Rhode Island.
The money will be used to finance affordable housing projects in 13 cities and towns. Officials said the plan is to build 1,481 units in total, about 1,200 of which will be for low-income households.
The majority of the funding ($82.9 million) comes from Gov. Dan McKee’s proposed 2023 budget, representing about a third of the $250 million allotted for affordable housing and homelessness support programs, according to McKee’s office. The remaining $18.1 million comes from “various federal and state resources,” his office said.
“For Rhode Island to be an attractive place to live, work, and raise a family, we must address the availability and quality of housing,” McKee said. “That means everything from providing supports to those experiencing homelessness to increasing affordable housing, to ensuring we build more workforce housing for our middle-class families.”
Here’s a map of the 23 approved projects, followed by a list:
- Central Street Development (Pawtucket/Central Falls) – 30 units
- Rosebrook Commons (Middletown) – 64 units
- Southpoint Commons (Westerly) – 72 units
- Reynolds Farm Senior Housing II (North Kingstown) – 40 units
- Broad Street Homes (Central Falls) – 47 units
- Ade Bethune House (Portsmouth) – 54 units
- Potters Tigrai Apartments (South Providence) – 57 units
- The Avenue (Providence) – 46 units
- Summer Street Apartments (Providence) – 76 units
- Lockwood Plaza Phase I (Providence) – 209 units
- Copley Chambers II & III (Providence) – 124 units
- Pocasset Reserve Phase I (Tiverton) – 275 units
- Ralph R. Russo Manor (Johnston) – 22 units
- Villages at Manville (Lincoln) – 72 units
- Millrace District (Woonsocket) – 70 units
- Studley Building (Providence) – 65 units
- East Point (East Providence) – 100 units
- Walker Lofts (Lincoln) – 126 units
- Georgiaville Place (Smithfield) – 9 units
- Bernon Mills (Woonsocket) – 60 units
- 24 Inkerman Street (Providence) – 3 units
- Hive Apartments (Providence) – 124 units
- 25 Bough Street (Providence) – TBD
So, what defines affordable housing?
According to Rhode Island Housing, 353 of these units will be set aside for those who are making 30% of the area median income. For example, a four-person household in Providence would need to be bringing in less than roughly $31,000 a year.
Another 784 units will be reserved for those making between $31,000 and $82,000 a year, while the remaining 344 units will be middle-income households.
Stefan Pryor, the state’s housing secretary, noted that it’ll take some time to get these homes built.
“These units will not sprout out of the ground overnight,” he said. “So full completion is, of course, years away.”
Below is a breakdown of the funding (click to enlarge):