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LINCOLN, RI – Senator Jack Reed, Representative Gabe Amo, elected and housing officials, funders and community members joined RIHousing and developers Valley Affordable Housing Corporation and Lonsdale Memorial Holdings, LLC on Friday to mark the opening of 26 new homes in Lincoln. Every unit in Lonsdale Memorial Lofts, a mix of studio, one-, and three-bedrooms, is reserved for households earning up to 80% of the Area Median Income, which for a family of two in Lincoln is $73,200.

“Building more homes and incentivizing smart development is key to improving housing affordability. The Lonsdale Memorial Lofts development wisely repurposes the old Lincoln Memorial School to create 26 new, high-quality, low-cost homes for Rhode Islanders with quick and easy access to local transportation,” said Senator Jack Reed, a member of the Appropriations Committee who supported over $2.8 million in federal investments for the development.

“I’m thrilled to see the transformation of Lincoln Memorial School into new homes for Rhode Islanders to enjoy. It was a true group project that included state, local, and private partners,” said Congressman Gabe Amo. “Lincoln’s new Lonsdale Memorial Lofts will give families a safe and affordable place to call home, inside a beautiful and historic building.”

Lonsdale Memorial Lofts is the rehabilitation of the Lincoln Memorial School, built in the 1920s and most recently used as town administration offices. In converting the school into new apartments, the developers added modern touches for residents while maintaining the brick structure’s charm, preserving a piece of Lincoln’s history while introducing new housing opportunities for Rhode Islanders.

“Over the past five years, we’ve passed well over 40 new laws aimed at making homes available and affordable. Some have had widespread ramifications; others are more targeted to specific situations; but all of them have one goal — getting people into homes,” said State Representative Mary Ann Shallcross Smith (D-46). “Here in Lonsdale, we now see the results of those housing opportunities that the General Assembly has been working tirelessly to create.”

“By bringing new life to a valued local landmark while creating needed housing opportunities for individuals and families, the Lonsdale Memorial Lofts project represents the kind of approach we need to effectively take on our state’s housing challenges. As Chairman of the Senate Committee on Housing and Municipal Government, and on behalf of my Senate colleagues, I am grateful to all the partners whose hard work and commitment made this project possible,” said Senator Jacob E. Bissaillon (D-Dist. 1, Providence), Chairman, Senate Committee on Housing & Municipal Government.

“Today’s ribbon cutting at Lonsdale Memorial Lofts is a meaningful step toward ensuring that the people who work in our community can also afford to live in our community. These 26 new affordable housing units provide high-quality, accessible options that meet the needs of a wide range of residents,” said Philip Gould, Lincoln Town Administrator. “This adaptive re-use of the old Memorial School building offers a perfect opportunity for couples looking to downsize in their retirement years, as well as young professionals who are just starting out and not yet ready to purchase their first home. By preserving this historic building and creating much-needed housing, we are strengthening the fabric of our town and ensuring that those who contribute to Lincoln every day have the ability to call Lincoln home. I would also like to recognize the tremendous support from RIHousing and the developers, Valley Affordable Housing and Lonsdale Memorial Holdings, for their commitment to maintaining the character and charm of this historic landmark.”

The development utilized a variety of funding sources, including $2 million from RIHousing’s Acquisition Revitalization Program to assist in the purchase of the property, and the agency’s Middle Income Loan Program, funded by the over $200 million that RIHousing administered in State Fiscal Recovery Funds. The Middle Income program addresses the affordable housing needs of households who are increasingly caught in the gap between rising housing costs and ineligibility for other traditional state and federally financed affordable housing.

“Lonsdale Memorial Lofts will deliver 26 thoughtfully designed affordable homes, providing vital support to individuals and families who strengthen our communities,” said Secretary of Housing Deborah Goddard. “We extend our gratitude to all partners whose dedication made this project possible, creating safe, stable housing and new opportunities for 26 more households to build their futures, here in Rhode Island.”

“RIHousing was proud to provide funding to Lonsdale Memorial Lofts, including critical Middle Income Loan Program funds,” said Carol Ventura, CEO & Executive Director of RIHousing. “We look forward to continuing to support projects like Lonsdale, which take advantage of existing vacant structures to create more affordable housing for Rhode Islanders.”

Lonsdale Memorial Lofts is conveniently located along the Blackstone River Greenway, near retail and transportation, including the new Pawtucket/Central Falls train station. Units are still available; interested individuals and families can contact Pinnacle Property Management at 401-334-2802 or visit the Valley Affordable Housing Corp. site: https://www.valleyaffordable.org/lincoln-memorial-school/.

PROVIDENCE, RI – RIHousing recently announced the launch of the Contractor Training Grant Program, which will provide funding to help eligible contractors cover the cost of training and resources that build skills and support business growth. With $200,000 available, the program’s goal is to expand the pool of contractors who are qualified to work on RIHousing-funded residential construction projects.

Funded directly by RIHousing, the Contractor Training Grant Program will award up to $20,000 per applicant to Rhode Island-based contractors and/or their staff who want to increase their skills to work on residential construction projects within our state. Applicants will identify training or resources that would benefit their businesses and apply to RIHousing for the grant funding, which will be awarded on a rolling basis until program funds are expended.

RIHousing understands firsthand the difficulties of the current housing market. The agency is dedicated to providing funding and support for the many stages involved in housing development, including introducing this grant program to encourage contractors and their teams to augment and diversify their abilities and grow their businesses to handle larger or more complex projects.

Having an extended stable of amply qualified contractors will ultimately benefit all of Rhode Island. By offering this financial assistance, smaller businesses can acquire workforce training, like carpentry, plumbing and HVAC, and business capacity training, such as accounting, bookkeeping, and project management. These opportunities strengthen both companies and their employees while creating new job prospects. This also means there are more contractors with crews available to take on much-needed housing development projects.

“RIHousing is proud to launch our Contractor Training Grant Program, which will provide crucial financial assistance to contractors and their staff who want to increase their skills and business capacity,” said Carol Ventura, CEO & Executive Director of RIHousing. “It is critical that we provide support and resources for our contractors as we continue to work to meet the demand for more housing in Rhode Island.”

Eligible Activities
Program funds will be available for a variety of trainings and resources:

• Workforce training programs including: carpentry, plumbing, HVAC, electrical, mechanical, and weatherization.

• Business capacity training including: accounting and bookkeeping, construction estimating, insurance and bonding, RI MBE/WBE certification process, and project management.

• Resources to increase business capacity/worker skill including: translation services, HR and payroll, website development, marketing, and tools and equipment.

For more information, including a link to the application, visit the RIHousing website: Contractor Training Grant Program.

PROVIDENCE, RI – Governor McKee, the Executive Office of Housing (EOH) and RIHousing today announced the opening of a consolidated funding round focused on housing production. Building on previously announced funding programs from EOH and supported in part by the $120 million housing bond passed by voters in 2024, this Request for Proposals includes innovative new bond-backed initiatives plus staple programs to fund the acquisition, rehabilitation, and new construction of affordable housing.

“Production, production, production is the name of the game when it comes to tackling Rhode Island’s housing crisis,” said Governor Dan McKee. “Backed by a record-setting and voter-approved housing bond, we are bringing in innovative strategies to spur new housing opportunities that strengthen our workforce, bolster our economy, and help our families build prosperous futures.”

The programs provide financial assistance to a range of development stages and types, including for smaller scale projects that would not qualify for traditional Low Income Housing Tax Credit (LIHTC) financing. By leveraging these and other funding sources, developers will have ample support from the state to rehabilitate or build housing, adding to Rhode Island’s pipeline of new homes.

“The programs included in this consolidated round are designed to meet Rhode Islanders where they are — addressing the full spectrum of housing needs across our state,” said Secretary of Housing Deborah Goddard. “From new developments from small to large scale that expand our housing supply, to projects that preserve our existing affordable housing, each investment moves us closer to an improved housing landscape. Combined with $66 million in housing bond funds, the additional $47 million available today will accelerate the production and preservation of affordable homes, strengthen local partnerships, and ensure that Rhode Islanders at every income level have access to safe, quality, and affordable housing.”

“RIHousing is proud to release another consolidated funding round, which will provide over $113 million for housing activities in communities across our state,” said Carol Ventura, CEO & Executive Director of RIHousing. “With the inclusion of programs funded by the $120 million housing bond approved by voters last year alongside federal and state tax credits and programs like HOME, HTF, and HPF, this RFP offers developers a range of funding opportunities that will greatly contribute to housing production in Rhode Island.”

By combining these programs into one RFP, the process of applying for funding has not only been streamlined but simplified as well. RIHousing and the state worked together to adopt this consolidated process; interested parties can visit www.osa.rihousing.com to review and submit. Applications are due by 4 p.m. on December 18, 2025.

The programs included in this consolidated funding round are:

9% Low-Income Housing Tax Credit (LIHTC): Rhode Island’s annual allocation is approximately $3.5 million. Applicants are encouraged to review the 2026 Qualified Allocation Plan to ensure familiarity with program requirements, but Proposals must:

1. Meet the required minimum set aside requirement of the Section 42 program.
2. Create a minimum of 30 new units.
3. For applications proposing preservation, 30% of the overall units in an application or 20 units, whichever is greater, must be newly created affordable homes.
4. As the LIHTC is a highly competitive and scarce resource, no single development may be awarded more than 40% of Rhode Island’s annual small-state minimum allocation.

Tax Exempt Bonds and 4% LIHTC: RIHousing has traditionally accepted applications for bond financing on a rolling basis and will continue to do so. Completion of the consolidated application will be considered an application for tax exempt bonds. For proposals seeking tax exempt bonds and 4% LIHTC, applicants are encouraged to review the 2026 Qualified Allocation Plan to ensure familiarity with program requirements and priorities. Funding is available for rental housing only. RIHousing reserves the right to limit Tax Exempt allocations to determined financial feasibility of eligible bond basis and fund the balance of the construction loan with taxable debt.

Housing Production Fund (HPF): HPF is funded through state real estate transfer tax receipts. Approximately $1,500,000 in funding for production will be available under this RFP. While preservation of existing housing is an eligible use, new production is a priority. Developments must benefit low- and moderate-income individuals and families with gross annual incomes at or below 80% of Area Median Income (“AMI”) and there is a priority for households either exiting homelessness or earning no more than 30% of AMI. Mixed income developments are allowed under the HPF program. Funding is available for rental and homeownership opportunities.

HOME Investment Partnerships Program (HOME)*: RIHousing has approximately $3 million available in HOME funds. Awards will be capped at $1 million per project. HOME funds will be prioritized for successful 9% LIHTC applications.

Housing Trust Fund (HTF)*: The HTF program awards funding for the acquisition, rehabilitation, and new construction of rental housing for extremely low-income individuals and families. HTF funds will be prioritized first for successful 100% Permanent Supportive Housing Projects with less than 30 units using the Permanent Supportive Housing Program fund scoring criteria for applications requesting HTF, and second, if funding remains, for LIHTC applications that contain Permanent Supportive Housing units. Approximately $3 million is available.

*****Note – all HOME and HTF funded projects will be subject to the Build America Buy America (“BABA”) requirements as outlined in the Infrastructure Investment and Jobs Act signed into law on November 15, 2021.

Housing 2030 Permanent Supportive Housing Program: Housing 2030 PSH provides funding for the development of 100% new permanent supportive housing (“PSH”) multifamily projects for households with incomes at or below 30% of AMI. Further, this initiative will prioritize funding small scale developments which are too small for traditional low-income housing financing tools such as LIHTC. Up to $12 million is available.

Housing 2030 Small Scale Rental Program: Up to $12 million is available for new construction of income eligible rental units for households earning up to 120% AMI. Developments must be no fewer than 5 and no more than 30 units. At least 51% of units in any funded developments must be affordable units that are secured with a deed restriction of at least 30 years.

Housing 2030 Affordable Rental Housing New Development Program: Up to $27 million is available for new construction, rehabilitation, and/or adaptive reuse of income eligible rental units. All applications must include 51% or more new construction units. Developments must benefit low- and moderate-income individuals and families earning up to 120% of the AMI.

Housing 2030 Preservation Program: The source for Housing 2030 Preservation is $5 million in housing bond funds through the Rhode Island Executive Office of Housing and $5 million in RIHousing Affordable Housing Trust Fund funding. Up to $10 million is available for preservation of income eligible rental units for households earning up to 120% of the AMI.

Housing 2030 Acquisition and Revitalization Program: $10 million is available for strategically targeting foreclosed and/or blighted residential and commercial properties and vacant lots in need of redevelopment. Income of households assisted under the program is limited to 120% of the AMI. Eligible properties include residential, commercial and vacant lots located in Rhode Island that are determined to be blighted or are foreclosed and are part of a municipal revitalization plan or strategy.

State Low-Income Housing Tax Credit (State LIHTC): The purpose of the State LIHTC is to provide gap funding for the development of affordable housing in Rhode Island. Up to $30 million is available. Only projects with federal LIHTC awards (4% and /or 9%) are eligible to receive State LIHTC, which will be awarded prior to construction closing; the amount of credits will be sized to fill remaining gaps in the project funding.  The developer will receive the tax credits over five (5) years after the project is placed in service. The developer is also eligible to redeem the tax credits for 90 cents for each dollar of tax credits awarded. This cash redemption would also occur over five (5) years after the project is placed in service.

Zero Energy for the Ocean State (ZEOS): RIHousing has partnered with the Rhode Island Office of Energy Resources and Rhode Island Energy to provide funding to support the creation of energy efficient Zero Energy Building “ZEB” housing units in Rhode Island for low- and moderate-income residents earning up to 120% of the AMI. Project proposals must include heat pump technologies and onsite (or if available, community) solar in pursuit of ZEB status. Up to $1,558,000 of grant funding is available for new construction or rehabilitation of income eligible units.