About

Learn about RIHousing, including Featured News, Key Projects, and The Team.

Established by RI General Assembly
1973
Annual Impact in 2019 on Rhode Island Economy
$708M
Bonds Outstanding (as of 6/30/2020)
$1.300 Billion

About RIHousing

RIHousing is a self-supporting public agency created by the General Assembly in 1973 to provide financing to increase the supply of affordable housing for families with low or moderate incomes.

Pursuant to its enabling legislation, RIHousing is authorized to issue bonds and other obligations to fulfill its corporate purpose. In addition to its bond programs, the corporation administers the Section 8 Housing Assistance Program, the HOME Investments Partnership Program, the federal Low-Income Housing Tax Credit, as well as other state and federal programs.

The corporation supports its staff and operating expenses through bond fund earnings, federal grant administration fees and interest income. RIHousing does not receive state appropriations for its operating budget.

Key Projects

Greenridge Commons, Burrillville

Developed by NeighborWorks Blackstone River Valley, Greenridge Commons features 96 rental homes in the village of Pascoag, helping the town meet the state goal of 10% affordable housing stock.  The total development cost, coupled with over 10,000 sq ft of commercial/community space, equates to $28.5 million dollars; 88% of which derived from private/equity sources.

View project
60 King Street Olneyville, Providence

Developed by Trinity Financial, 60 King represents the successful rehabilitation and reuse of a former industrial building into 60 units of much-needed housing across a range of income levels. With a total development cost of approx. $22.5 million, 60 King was financed with a blend of Federal Low-Income Housing Tax Credits, Federal and State Historic Tax Credits, RIHousing and City HOME funds, state and Brownfields Funding as well as construction financing.

View project
Branch Blackstone Pawtucket/Central Falls
Branch Blackstone Pawtucket/Central Falls

Developed by PCF Development, this 46-unit project has breathed new life into the community with the creation of 29 new apartments and the preservation of 17 existing homes. The development includes properties located on 6 sites in Pawtucket and Central Falls. Funding sources included Low-Income Housing Tax Credits (LIHTC), which leveraged more than $9 million in private equity.

View project
Georgiaville Village Green, Smithfield
Georgiaville Village Green, Smithfield

A joint venture between Gemini Housing Corporation and Coventry Housing Associates has developed 42 one-, two- and three-bedroom apartments on a former mill site. With a total development cost of $11 million, funding came from a variety of sources, including Low-Income Housing Tax Credit equity, construction and mortgage financing and state housing bond funding for the acquisition and revitalization of blighted properties.

View project
View Projects

The Team

Kara Lachapelle

Chief Financial Officer

(401) 457-1234

bonds@rihousing.com

Read bio
Bernadette MacArthur​

Director of Finance

(401) 457-1234

bonds@rihousing.com

Read bio
View Team