News & Events

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.

PROVIDENCE, RI – Congressman Seth Magaziner, Providence Mayor Brett Smiley, and Housing Secretary Deborah Goddard joined the Preservation of Affordable Housing, Inc. (POAH) and RIHousing today to celebrate the start of rehabilitation work on Pocasset Manor in the Olneyville neighborhood of Providence. Built in 1982 as affordable senior and disabled housing, POAH purchased the property in 2006 to ensure that tenants would not be priced out of their homes.

Pocasset Manor is an 11-story, 82-unit development for seniors earning up to 60% of the Area Median Income, which for one person is up to $48,060. The purchase of Pocasset by POAH also included nearby Hillcrest Village, with units reserved for seniors, and Hillside Village, which has affordable housing for families. Pocasset was last renovated in 2007. Updates on this round of necessary rehabilitation will include upgrades to kitchens, baths, and finishes, a new roof, full-building WiFi, new washers and dryers, and elevator modernization.

Funding for changes to Pocasset include over $500,000 from the U.S. Department of Housing and Urban Development’s (HUD) Green and Resilient Retrofit Program (GRRP), which was inspired by Senator Jack Reed’s Green Retrofits Act. GRRP awarded funds specifically to existing affordable housing developments to implement or update energy efficient and climate resilience measures. Pocasset Manor is using their GRRP funds on a variety of green and energy efficiency upgrades that will bring the building up to current design and accessibility standards and improve quality of life for residents.

“This project is good news for the residents of Pocasset Manor and taxpayers alike. Through the Green and Resilient Retrofit Program that I helped create and other federal housing programs that I support, POAH is utilizing federal investments to preserve critical affordable housing here in Providence while smartly reducing our carbon footprint, lowering energy costs, and building on community assets at the property,” said Senator Jack Reed, who helped support over $12 million in federal funding for the upgrades.  “This rehabilitation project will help to ensure Pocasset Manor can continue to offer safe, healthy, affordable homes for older Rhode Islanders and people with disabilities for decades to come.”

“Every Rhode Islander deserves a safe and affordable place to call home,” said Representative Seth Magaziner. “The rehabilitation of Pocasset Manor is a major step toward ensuring that seniors and people with disabilities can continue to live safely and with dignity. This project shows what’s possible when local, state, and federal partners work together to invest in housing.”

RIHousing’s 2024 Low- and Moderate-Income Housing chart shows that Providence had the largest addition of newly deed-restricted units across the state last year; with the kickoff of renovation for Pocasset Manor and similar projects in the pipeline, the city is navigating the balance of building new affordable homes while preserving the ones that already exist.

“Investing in safe, affordable and sustainable housing for our seniors is a priority in Providence,” said Providence Mayor Brett P. Smiley. “The improvements at Pocasset Manor ensure that our older residents can age with dignity in modern, energy-efficient homes and reflect our broader commitment to environmental responsibility and community wellbeing. I’m grateful to POAH, RIHousing and our federal partners for their leadership in advancing housing that is both affordable and resilient.”

“We are excited to begin the renovations of Pocasset Manor and we are grateful to all of our funders, especially RIHousing, for the substantial investments they are making for our residents,” said Aaron Gornstein, President and CEO of Preservation of Affordable Housing (POAH). “We look forward to working together in the very near future to renovate additional POAH properties in Providence.”

In addition to GRRP, Pocasset Manor has secured renovation support from several sources, including an RIHousing First Mortgage and federal Low-Income Housing Tax Credits—a program administered by RIHousing that plays a vital role in both developing and preserving affordable homes across Rhode Island. As part of this transaction, the development has been placed under a new deed restriction, extending Pocasset’s affordability for another 30 years and ensuring a stable, long-term housing option for current and future tenants.

“As we work to build new affordable homes across our state, we must also protect the ones we already have,” said Secretary of Housing Deborah Goddard. “Preservation is the twin of production—we can’t meet our housing goals without both. Housing 2030 sets bold but achievable targets and reaching them requires the right balance between creating new units and preserving existing ones. I’m grateful to POAH for their commitment to this work and look forward to seeing preservation efforts continue across Rhode Island.”

“As we focus on the expansion of affordable housing in Rhode Island, we must continue to maintain and preserve the affordable homes we already have,” said Carol Ventura, CEO & Executive Director of RIHousing. “RIHousing is proud to offer funding support to assist in upgrades to existing affordable housing developments, bringing them to current standards and providing residents with modern, updated infrastructure and living spaces.”

Preservation of Affordable Housing, Inc., headquartered in Boston, MA, operates in 13 states and Washington, D.C., with 11 properties in Rhode Island.

MANVILLE, RI – Connolly and Partners, LLC, and RIHousing were joined by Senators Jack Reed and Sheldon Whitehouse, Congressman Gabe Amo, Governor Dan McKee, local officials and funding partners to mark the groundbreaking for The Village at Manville. The 72-unit building cluster will be located beside St. James’ Church, the original seller of the land.

“Strong, healthy, thriving communities need an adequate supply of housing options for everyone. I am pleased to deliver federal financing for this project, which will transform a vacant site into 72 new, affordable units in Lincoln. The Village at Manville is a testament to the private-public partnerships necessary to ensure people of all income levels can live, work, and put down roots here. It will be a great addition to a wonderful neighborhood,” said U.S. Senator Jack Reed, a member of the Appropriations Committee who created the national Housing Trust Fund (HTF), which contributed $1,174,331 to the project.

“Rhode Islanders are among the hardest hit by the nationwide affordable housing supply crunch,” said U.S. Senator Sheldon Whitehouse. “Our American Rescue Plan, together with federal Low-Income Housing Tax Credits and other federal investments, has been put to work providing 72 families a stable, affordable place to call home and helping ease cost pressures in the market.”

“Building more affordable housing is key to providing economic security for all Rhode Islanders,” said Congressman Gabe Amo. “Thanks to RIHousing’s dedicated work and public-private partnerships across all levels of government, I celebrate the groundbreaking for these 72 new units of affordable housing that residents in Lincoln will soon be able to call home.”

“My Administration is committed to increasing housing options in every community across our state—and that means investing in developments like The Village at Manville,” said Governor Dan McKee. “From launching the state’s first-ever Low-Income Housing Tax Credit to passing a historic $120 million housing bond and creating our Housing 2030 plan, we’re putting families and their futures first. The homes at The Village at Manville are a strong example of the progress we’re making.”

Comprised of three residential buildings and one community center, all 72 units will be affordable for individuals and families earning up to 80% of the Area Median Income (AMI). Eight of these units will be set aside for households earning up to 30% of the AMI – for a family of three that’s $30,900. These units will be supported by Section 811 vouchers through the U.S. Department of Housing and Urban Development’s (HUD) Supportive Housing for Persons with Disabilities Program, which ensures housing affordability, support, independence, and accessibility for program participants. RIHousing administers the program on behalf of HUD. Voucher holders pay 30% of their income to rent and utilities and receive supportive services from Department of Behavioral Healthcare, Developmental Disabilities & Hospitals-approved providers.

The Village at Manville joins an increasing number of affordable housing developments in Lincoln – like Lincoln Lofts, which opened in 2020 with 45 units. Including The Village, 130 new units of housing are currently in the pipeline for the town; they are supported by State Fiscal Recovery Funds (SFRF), among other funding sources. Together, these development activities are contributing to a significant increase in housing stock – the majority of them affordable — in an attractive, sought-after community, at a time when Rhode Islanders face a difficult housing market.

“We’re making real, substantive progress on addressing Rhode Island’s housing crisis. I am very pleased that towns like Lincoln are embracing the need for more affordable housing,” said House Speaker K. Joseph Shekarchi (D-23, Warwick). “Families who meet the threshold for ‘affordable housing’ are working families – teaching assistants, health care aides, public safety professionals, and more. They are the backbone of our communities and deserve to live in the area they serve.”

“Rhode Island’s housing crisis impacts people in every corner of our state, and it threatens the health and economic well-being of every community,” said State Senator Jake Bissailon, D1 – Providence. “The Villages at Manville will provide critically needed units in the Manville neighborhood and help ease the lack of access and affordability in the area. Additionally, its mixed-income approach and inclusion of various amenities makes it an example of the kind of development we need throughout our state. As Chairman of the Senate Committee on Housing & Municipal Government, and on behalf of President Lawson and my colleagues, I commend the many partners who made this project possible.”

“The Village of Manville project represents a significant investment in the future of our community, providing 72 much-needed units of affordable housing for families and individuals who want to call Lincoln home,” said Lincoln Town Administrator Philip Gould. “This development reflects our continued commitment to housing opportunities for all. I want to thank Rhode Island Housing, Connolly and Partners, and Governor Dan McKee for their leadership and support. I also deeply appreciate the efforts of Senators Jack Reed and Sheldon Whitehouse, as well as Congressman Gabe Amo, for their strong advocacy and continued investment in communities like ours. This is a proud moment for Lincoln and a meaningful step forward for Manville.”

Financing for The Village at Manville comes from multiple sources, including SFRF and the federal Low-Income Housing Tax Credits (LIHTC), both administered by RIHousing. The Governor and General Assembly’s historic investment of over $322 million of SFRF into housing and homeless programs has been critical in the effort to increase affordable housing across the state, creating new rental and homeownership opportunities. The federal LIHTC has been another important resource in the development of affordable homes, offering tax incentives to developers and investors and providing an additional funding stream to encourage companies to invest in affordable housing in Rhode Island. Additional construction financing was also provided by Bank of America Rhode Island as well as the Town of Lincoln.

“Connolly and Partners, a First Hartford company, would like to thank RIHousing and Bank of America for their efforts in the successful financial closing of the Village at Manville,” said John Toic, President of First Hartford Realty Corporation. “This is a significant investment in Rhode Island that will benefit the surrounding communities, residents, and environment. Furthermore, this allows Connolly and Partners to continue our ongoing commitment to the development and preservation of affordable, high-quality, safe, and accessible housing.”

“The Villages at Manville exemplifies the goals of Housing 2030—delivering affordable housing options across the income spectrum through innovative public-private partnerships, the strategic use of federal resources, and the repurposing of underutilized land to meet urgent housing needs,” said Rhode Island Secretary of Housing Deborah Goddard. “Housing is where it all begins, and if we don’t get housing right, we won’t get the rest right—but we’re getting housing right.”

“Bank of America Community Development Banking is pleased to provide a construction loan and tax credit investment to help finance much-needed affordable for families in Manville,” said Bank of America Rhode Island President Kevin Tracy. “The Village at Manville is a great example of the impact we can make through public-private partnerships to support the communities where we work and live.”

“RIHousing is proud to be a supporter of The Village at Manville, a development that will bring more affordable housing options to Lincoln,” said Carol Ventura, CEO & Executive Director of RIHousing. “We were happy to provide essential funding for this project and remain firmly committed to investing in affordable housing opportunities across Rhode Island.”

The Village at Manville is the first development in Rhode Island for Connolly and Partners, a subsidiary of First Hartford Realty Corporation. Their other communities are in Massachusetts, Connecticut, New York and Delaware.

PROVIDENCE, RI – RIHousing, the Rhode Island Office of Energy Resources (OER), and Rhode Island Energy announced the release of a Request for Proposals for the fourth round of funding from the Zero Energy for the Ocean State (ZEOS) program. This latest round offers over $1.2 million in funding to assist in the development of energy-efficient housing in Rhode Island.

“The ZEOS program continues to be a vital funding source for developers committed to building affordable homes in Rhode Island,” said Carol Ventura, CEO & Executive Director of RIHousing. “We’re proud to administer ZEOS alongside our program partners and remain dedicated to supporting the construction of energy-efficient developments throughout the state.”

ZEOS, a partnership program between RIHousing, OER and RI Energy, aims to support development teams that want to design and construct affordable, energy-efficient housing for low- and moderate-income Rhode Islanders. Zero Energy Buildings (ZEBs) are energy-efficient buildings with zero net energy consumption, meaning the total amount of energy used by a building on an annual basis is less than or equal to the amount of renewable energy created on the site. Including energy-saving technology — like air source heat pumps, solar arrays, and electric vehicle charging – help to make these homes truly affordable to the residents by drastically lowering utility costs.

“OER is committed to making investments in collaboration with RIHousing and RI Energy on energy efficient housing with our affordable housing community throughout Rhode Island,” said Acting Rhode Island Energy Commissioner Chris Kearns. “Energy efficient buildings provide long-term energy savings for households and contribute to the state’s energy emission reductions to meet our Act on Climate objectives.”

This fourth round of ZEOS funding is the highest yet since the program started in 2019. The most recent round, awarded in 2023, went to four developments across the state: Tempo and Summer Street in Providence, Sandywoods in Tiverton, and Cardinal Lane in Hopkinton. To date, ZEOS has supported the development of 418 net zero housing units.

“We take great pride in this effort, along with RIHousing and the OER, to support our communities as they pursue sustainable and efficient energy measures,” said Greg Cornett, Rhode Island Energy president. “The ZEOS program paves a path for more of our residential customers—including those of low and moderate incomes—to access the many benefits of energy efficiency.”

The over $1.2 million in funding is subject to availability. Submissions for this RFP will be accepted until April 7, 2025 via: https://osa.rihousing.com/funds/94. Total awards may not exceed $300,000 per project and are limited to $18,200 per unit for 1-4 family developments. Buildings must qualify as ZEB (according to US Department of Energy’s ZEB definition) and participate in RI Energy’s Residential New Construction Program.

Opportunity for RI homebuyers and homeowners to create an additional dwelling unit on their property

PROVIDENCE, RI – Last year the Rhode Island General Assembly passed, and the Governor signed, legislation to widen the net of qualified property owners who can add Accessory Dwelling Units (ADUs) to their homes. The bill was sponsored by Representative June Speakman and Senator Victoria Gu and spearheaded by House Speaker Joseph Shekarchi; it’s being supported by RIHousing’s Federal Housing Administration (FHA) 203(k) Loan program.

“Tackling the housing crisis takes a whole-of-government approach and bold strategies,” said Governor Dan McKee. “The loan program supports increased access to housing, which opens the door to better health outcomes and a stronger economy for Rhode Island. I’m proud to have worked with Speaker Shekarchi, Senate President Ruggerio, and the legislature on this important legislation.”

“Congratulations to RIHousing for developing this creative program to help homeowners and increase housing stock,” said House Speaker K. Joseph Shekarchi. “ADUs are a great way to increase density without changing the character of the surrounding neighborhood. I am thrilled that RIHousing is making it possible for more Rhode Islanders to benefit from the legislation we passed in the General Assembly.”

“I have spoken to homeowners in my area who want to renovate their garage or a space within their home into an ADU but don’t have the funds readily available, so I’m glad that RIHousing is supporting homeowners through the 203(k) financing program. ADUs offer the ‘missing middle:’ housing that is smaller, more affordable and smartly repurposes our existing buildings and garages. Whether homeowners use their ADUs to receive additional income through a long-term rental, or house a loved one, friend or onsite caregiver, it’s a win-win,” said Sen. Victoria Gu (D-Dist. 38, Westerly, Charlestown, South Kingstown).

“As the House sponsor of the ADU legislation, I have received many inquiries from constituents looking for help financing the construction of such accessory units,” said Rep. June Speakman (D-Dist. 38, Bristol, Warren). I am delighted that this program provides that needed assistance. ADUs are a great way to gently expand housing availability in our communities and an essential tool for addressing the housing needs of Rhode Islanders.”

RIHousing offers the FHA 203(k) Loan program to help Rhode Islanders take advantage of this financing opportunity. The program offers assistance to homebuyers or current homeowners who wish to renovate and/or expand their properties with an ADU. The addition of an ADU can mean multigenerational living on one property or a space to rent to generate additional income.

More on ADUs
ADUs are smaller, independent residential units located on the same lot as a primary single- or multi-family home. Rhode Island homeowners using the RIHousing 203(k) Loan can build an attached or in-home unit on their property if it meets certain criteria; each town may have its own specific regulations, so it’s best to consult a qualified contractor who is familiar with the local requirements.

“RIHousing is committed to expanding housing options across our state,” said Carol Ventura, CEO & Executive Director of RIHousing. “As we continue to deal with a tight housing market, creative ideas are key to increasing housing options that more Rhode Islanders can afford. Giving homeowners the option to build or renovate an ADU can open doors for homeowners and renters.”

ADUs are an additional, flexible solution to Rhode Island’s current housing shortage. They can be vital for a family, letting older members – like parents and grandparents – live beside younger members while still maintaining independence. ADUs also let younger members, like recent college graduates, be near family while having their own space. Or an ADU can become a rental opportunity for the property owner. In addition to expanding livable space on the property, ADUs can increase a home’s value. AARP has more information about the ABCs of ADUs: https://states.aarp.org/rhode-island/the-abcs-of-adus.

“Rhode Island’s housing needs are evolving, and we must be innovative in our approach to meet those needs,” said Secretary of Housing Deborah Goddard. “By supporting the development of Accessory Dwelling Units through programs like the FHA 203(k) loan program, we are empowering homeowners to enhance their properties while contributing to a more affordable and diverse housing market – strengthening multigenerational living and giving homeowners the opportunity to create new rental spaces that can support families and bolster the local economy.”

203(k) Loan
In addition to individuals or families purchasing a new home, RIHousing is now offering the FHA 203(k) as a refinance option for current homeowners who wish to build or renovate an ADU. Homebuyers or homeowners utilizing a FHA 203(k) Loan will receive a loan for both the purchase or refinance of the home and the proposed project.

Projects must be completed within 12 months of the purchase or refinance date. The homebuyer or homeowner must complete RIHousing’s FHA 203(k) homebuyer education class prior to closing, which is offered online for $15. The homebuyer or current homeowner must also select an FHA-approved RI 203(k) consultant and a RI licensed and insured contractor.

Interested homebuyers or homeowners can visit https://www.rihousing.com/adu/ or reach out to the RIHousing Loan Center or a RIHousing Participating Lender for more information.

RIHousing encourages community members to attend the public meetings and/or pop-up events to learn about the project and share ideas.

Providence, RI – RIHousing is holding multiple public meetings and pop-up events regarding the U.S. Department of Housing and Urban Development (HUD) FY 2025-2029 Consolidated Plan, FY 2025 Annual Action Plan and Analysis of Impediments to Fair Housing. The Consolidated Plan and Annual Action plan are required documents for the State’s federal funding programs of the Community Development Block Grant (CDBG), HOME, Emergency Solutions Grants (ESG) and National Housing Trust Fund. Meeting times and locations are as follows:

Public Meetings:

• Monday, June 10, 2024, 6:30PM-8:00PM at the Woonsocket Harris Public Library, 303 Clinton St, Woonsocket, RI 02895
• Tuesday, June 11, 2024, 12:00PM-2:00PM at Warwick Library Central Branch, 600 Sandy Ln, Warwick, RI 02889
• Tuesday, June 11, 2024, 4:00PM-6:00PM at the North Kingstown Free Library, 100 Boone St, North Kingstown, RI 02842
• Wednesday, June 12, 2024,12:00PM-2:00PM at the Barrington Library, 281 S. County Rd, Barrington, RI 02806

Pop-Ups:

• Tuesday, June 11, 2024, 9:00AM-10:45AM at the Warwick Library Central Branch Lobby, 600 Sandy Ln, Warwick, RI 02889
• Wednesday, June 12, 2024, 4:00PM-6:00PM at the Hope & Main Makers Market, 691 Main St, Warren, RI 02885

RIHousing is a self-supporting, quasi-public agency created in 1973 to provide financing and resources to offer housing options to Rhode Islanders. RIHousing works to ensure that all people who live in Rhode Island can afford an attractive home that meets their needs.

By May 2025, RIHousing will adopt the new Five-Year Consolidated Plan and Annual Action Plan which will describe Rhode Island’s affordable housing and community development funding priorities and goals for the next five years. It will also describe how the State will plan on using its federal funds for projects in FY 2025 to address the identified high priority needs. Additionally, the Analysis of Impediments to Fair Housing Choice (AI) will be completed in early 2025 and will identify barriers to housing choice for members of the protected classes. The AI will also include a fair housing action plan that identifies barriers to fair housing and a plan to address those barriers.

Public input is essential to the planning process to help shape future affordable housing and community development priorities in Rhode Island. The public meetings and pop-ups will give community members an opportunity to learn about the Consolidated Plan, the Annual Action Plan and Analysis of Impediments to Fair Housing and share their thoughts on the region’s existing housing and community development needs.

Attachment: Frequently Asked Questions – Analysis of Imediments to Fair Housing Choice and Five-Year Consolidated Plan 2025

Opening adds 79 new units of affordable housing in Providence

Providence, RI – Today Lieutenant Governor Sabina Matos, U.S. Department of Housing and Urban Development (HUD) Rhode Island Field Office Director Peter Asen, the Rhode Island Department of Housing Secretary Stefan Pryor, Councilwoman Mary Kay Harris, and State Senator Tiara Mack joined Omni Development Corporation, Wingate Companies, RIHousing, Citizens Bank, and other funding and local community partners at the ribbon cutting for the Joseph Caffey Apartments and Jordan Caffey Townhomes in Providence, marking a new start for the former Barbara Jordan II Apartments site.

“There is such a tremendous need for quality, affordable housing and so it’s exciting to cut the ribbon on this transformational complex and welcome home dozens of new residents and families. This ambitious project is a major win for Providence and is due to the hard work and teamwork of so many community partners. I was pleased to do my part at the federal level to help deliver funding and I commend RIHousing, HUD, the state, the city, and everyone who played a role in making this redevelopment work not just for new residents, but for the whole neighborhood,” said U.S. Senator Jack Reed, who has championed the Low-Income Housing Tax Credits, the HOME Investment Partnership Program, the Capital Magnet Fund, the Housing Trust Fund, and other federal sources of housing revenue to increase the stock of affordable housing in Rhode Island. Reed began working in 2000 to preserve these HUD units and keep them affordable for local tenants.

The completion of the Caffey development adds 79 units of new affordable housing to the Upper South Providence neighborhood. Homes will be available to individuals and families making 30%-80% of the Area Median Income, which for a two-person household is between $23,200 and $61,900.

“We know that investing in affordable housing is about building futures and strengthening communities. That’s why our Administration has made strategic, historic investments to grow Rhode Island’s housing stock and connect more Rhode Islanders with an affordable place to call home,” said Governor Dan McKee. “On behalf of the State of Rhode Island, I thank all the partners who came together to make this project possible.”

“This moment has been in the works since 2018. Long before housing was the top issue at the State House, Councilwoman Mary Kay Harris and RIHousing were working together with the community to build the housing that this neighborhood deserves,” said Lieutenant Governor Sabina Matos. “This is more than just 79 new affordable homes: it’s proof that community-led collaboration between cities, the state, and private companies can help us address our housing crisis.”

The Barbara Jordan II Apartments formerly at this location included 26 blighted and vacant two- and three-story apartment buildings over almost three acres. The buildings, constructed throughout the 1980s, had been abandoned and vacant since 2015; the U.S. Department of Housing and Urban Development (HUD) foreclosed on the apartments in 2018 and later the same year transferred ownership of the development to RIHousing.

“This is the beginning of a new chapter for a very long story at these developments,” said Peter Asen, Rhode Island Field Office Director for HUD. “HUD appreciates the many local, state and federal elected and career officials who worked over a decade to ensure that the resources would be there to rebuild much needed affordable housing in Upper South Providence.”

“Creating more affordable housing continues to be a top priority for Rhode Island,” said Rhode Island Department of Housing Secretary Stefan Pryor. “The Joseph Caffey Apartments and Jordan Caffey Townhomes were completed through extensive collaboration, a focus on community revitalization, and a commitment to serve the most vulnerable Rhode Islanders. Congratulations to RIHousing, Omni Development, and Wingate Companies on opening the doors to this much needed affordable housing development in Upper South Providence.”

After taking ownership, RIHousing and community partners embarked on an eight-month community engagement process, ensuring neighborhood residents, businesses, institutions, organizations, and other local stakeholders had key involvement in the redevelopment of the site and its surroundings. The discussions held during the engagement process informed RIHousing’s next steps in redevelopment.

“This development exemplifies what can be achieved when we engage with the community to transform underutilized properties into affordable living spaces for our neighbors,” said Providence Mayor Brett P. Smiley. “Increasing the housing supply in our city requires finding innovative solutions and getting creative with the historical buildings we already have. I am proud to join RIHousing in celebrating the completion of the Joseph Caffey Apartments and Jordan Caffey Townhomes.”

“I am incredibly proud to see this affordable housing development come to fruition and transform our neighborhood into one connected community here in South Providence,” said Providence Councilwoman Mary Kay Harris (Ward 11). “I vividly remember the deplorable housing conditions of the old buildings and the despair on the faces of those living here when I knocked on doors many years ago. This new community was built on a strong foundation of private and public partnerships working collaboratively to give folks safe and affordable homes.”

“These units will help ensure families in my district have affordable housing options,” said Rhode Island State Senator Tiara Mack. “The rising cost of rent has impacted too many in recent years. I am grateful for organizations like Omni that build beautiful, affordable homes that keep families in Providence who would otherwise be forced to leave.”

Incorporating feedback from the community engagement process, RIHousing released a Developer Request for Proposals (RFP) in 2019. After a diligent review of the developer submissions by RIHousing staff and the unanimous approval from an outside advisory committee, the final developer selection took place at the June 2020 RIHousing Board of Commissioners meeting. Omni Development and Wingate Companies were chosen as co-developers.

“The successful completion of this development is a powerful testament of perseverance and working collectively with others to address the housing needs in our community,” said Sharon Morris, Executive Director of Omni Development Corporation. “Quality affordable housing options transform communities, and I am excited that Omni Development and Wingate Companies was afforded this opportunity to build these apartments that will soon be called home for 79 families.”

“Wingate is grateful and proud to contribute to Providence’s revitalization and vitality; crafting affordable, high-quality apartments that echo the city’s spirit,” said Brian Kean, Senior Vice President of Wingate Companies. “Collaborating with our joint venture partner Omni Development, we’re dedicated to building homes where dreams thrive and communities flourish.”

A ceremonial groundbreaking in April 2022 marked the beginning of construction on the four-story apartment building and two-story townhomes.

Numerous funding sources made this redevelopment possible, including both 4% and 9% Low-Income Housing Tax Credits (LIHTC) and construction and permanent financing from RIHousing, Citizens Bank, and the Providence Redevelopment Authority.

“The redevelopment of the Barbara Jordan II Apartments into the Joseph Caffey Apartments and Jordan Caffey Townhomes has been a long and meaningful process for all of those involved,” said Carol Ventura, CEO of RIHousing. “RIHousing is proud to have provided funding and support in the transformation of blighted properties into beautiful new affordable homes for the people of this neighborhood. We remain committed to the development of more affordable communities across Rhode Island and look forward to working with our partners to expand our state’s housing inventory.”

The Joseph Caffey Apartments are a 54-unit, four-story building, named for the 24-year President and CEO of the Omni Development Corporation; Joseph Caffey was also the former Director of Housing Rehabilitation for the City of Providence and was the President of the National Leased Housing Association based in Washington, D.C.

The Jordan Caffey Townhomes are so named to honor both Joseph Caffey and the namesake for the original development on the site, Barbara Jordan, a trailblazing Congresswoman and a leader of the Civil Rights movement.

Residents of the Caffey Apartments and Townhomes will have access to an onsite digital learning center that was funded through a $500,000 investment from Citizens. Equipped with computers and high-speed Wi-Fi, the technology center will host wrap-around workforce development and education support to help residents achieve independence, self-sufficiency, and overall well-being.

“At Citizens, we are committed to strengthening our local communities and supporting the economic growth and success of Rhode Island and its vibrant communities like Upper South Providence,” said Keith Kelly, Rhode Island President at Citizens. “We’re honored to help finance the Caffey Apartments and Townhomes redevelopment project and to fund the construction of the new onsite digital learning center that will provide resources and wrap-around services to help residents achieve their goals.”

Block Party
Today, in celebration of the opening of the Caffey Apartments and Townhomes and in partnership with Omni Development Corporation and Wingate Companies, RIHousing is holding the South Side Spring Block Party from 12pm-4pm in the parking lot of the Joseph Caffey Apartments, 23 Portland Street, Providence. The block party has family-friendly activities, food trucks, resources from local companies and organizations, and more. This event is open to the public.

Providence, RI – The U.S. Department of Housing and Urban Development (HUD) awarded $354,369 to Rhode Island Housing and Mortgage Finance Corporation to assist youth with a history of foster care involvement who are homeless or at risk of homelessness and families whose lack of adequate housing is the primary reason their children are in foster care. This funding, offered through HUD’s Family Unification Program (FUP), will provide 28 housing vouchers to youth and families in Rhode Island.

“Rhode Island is fortunate to have excellent and dedicated service providers working with families and youth in the state,” said HUD New England Regional Administrator Juana Matias. “HUD is proud to partner with such strong allies for this important program that will assist youth and families with housing and critical services. We look forward to our continued collaboration with Rhode Island Housing, the continuum of care, state and nonprofit partners to increase access to resources and ensure we are placing families on a path towards permanent housing.”

As part of FUP, public housing authorities (PHA) partner with public child welfare agencies (PCWAs), and Continuums of Care (CoC) to offer Housing Choice Vouchers (HCVs) to two groups:

• Families for whom the lack of adequate housing is a primary factor in the imminent placement of the family’s child, or children, in out-of-home care; or the delay in the discharge of the child, or children, to the family from out-of-home care; and
• Youth aged 18 to 24, who have either exited foster care or will do so within the next 90 days, and meet the criteria outlined in Section 475(5)(H) of the Social Security Act, are eligible if they are homeless or at risk of homelessness and are 16 years or older.

PHAs administer the FUP in partnership with PCWAs, which are responsible for referring FUP families and youths to the PHA for the determination of eligibility for rental assistance. After the PCWA makes the referral, the PHA places the FUP applicant on its waiting list, assesses whether the family or youth meets HCV program eligibility requirements, and manages all other processes related to voucher issuance and administration.

“Ensuring every family and child has a safe and stable place to call home is a basic, core community commitment that helps give our youth the best possible chance to succeed. With these new federal housing vouchers, more Rhode Island families will be able to live together and thrive together and youth aging out of foster care will be better supported as they enter adulthood,” said Senator Jack Reed, a senior member of the Banking, Housing and Urban Affairs Committee. “I look forward to seeing these vouchers helping our most vulnerable Rhode Islanders.”

“These federal vouchers will help youth and families who have been through a difficult time get safe, supportive housing and most importantly, stay together with loved ones, as they regain their footing,” said** Senator Sheldon Whitehouse**. “Well done to RIHousing and DCYF on securing these vouchers, as this is the first time in years that Rhode Island has received them.”

“Every young person deserves a loving family and a stable home,” said Congressman Seth Magaziner. “I am excited that Rhode Island is receiving a federal Family Unification Voucher award, and am committed to working with my colleagues to ensure that all young Rhode Islanders can have a happy and safe childhood.”

“I am excited that our state has received over $350,000 in critical federal funds from the U.S. Department of Housing and Urban Development’s Family Unification Program to support our youth and families’ efforts to access more permanent and stable housing,” said Congressman Gabe Amo. “This program is vital to ensuring that families and children have the resources to remain together. I am eager to see the positive impact that these funds will have on the lives of Rhode Islanders and our critical mission to reduce and ultimately end homelessness.”

“Addressing family homelessness is a key area of focus, and through HUD’s Family Unification Program, we are providing essential support to Rhode Island’s vulnerable youth and families,” said Secretary of Housing Stefan Pryor. “This creative partnership will change lives and use resources more efficiently. We thank the collaboration of our federal partners, our congressional delegation, RIHousing, Department of Children Youth and Families, Foster Forward, Family Services of RI, and others.”

“RIHousing is proud to be an implementer and administrator of the federal Department of Housing and Urban Development’s Family Unification Program, in partnership with the state Department of Children, Youth and Families,” said Carol Ventura, CEO of RIHousing. “This program will provide crucial housing and supportive services to Rhode Island’s most vulnerable youth, ensuring families stay together. We look forward to administering and expanding this important program to provide Rhode Island youth and families with stability and opportunities for growth.”

“These FUP vouchers are critical to families and young people legally involved with DCYF who face housing instability challenges. This is a key step forward in DCYF efforts to ensure children are reunited with their parents when the only challenge is lack of housing,” said DCYF Director Ashley Deckert. “This also supports our efforts to ensure young people leaving our Voluntary Extension of Care (VEC) Program are able to continue to have a safe place to live. We appreciate the Governor and Secretary Pryor’s leadership on finding solutions to Rhode Island’s housing crisis and our ongoing partnerships with RIHousing, Family Services of RI and Foster Forward in addressing these needs.”

“A safe and affordable home is the cornerstone of stability and well-being for children and families,” said Family Service of RI CEO Margaret Holland McDuff. “These FUP vouchers are a tool to help families access a home and the support they need, so they can remain together or achieve reunification. I cannot think of more heartwarming news this holiday season! FSRI is truly excited and so thankful to HUD, RIHousing, DCYF and Foster Forward for their partnership that made this possible.”

“These federally funded vouchers are a transformational resource in our work to end homelessness for youth and families who are currently unhoused,” said Lisa Guillette, Executive Director of Foster Forward. “The vouchers make housing affordable, and our ability to couple this with comprehensive services to support their self-sufficiency strengthens our work with youth and families as well as all of our communities.”

Providence, RI – RIHousing, the principal housing finance agency (HFA) for Rhode Island for the past 50 years, received the 2023 Annual Award for Program Excellence in Management Innovation: Technology from the National Council of State Housing Agencies (NCSHA) for the submission ‘Expanding Agency Capacity Through Data Management.’ The winning entry highlighted RIHousing’s data warehouse, which has evolved into a critical resource that allows the agency to grow and improve its operations.

“It’s an honor to be recognized by a national organization that understands the hard work that HFAs are accomplishing,” said Carol Ventura, CEO of RIHousing. “Data management is a vital piece of our work and in understanding the impact we’re making across the state.”

The data warehouse server was developed by a team of IT and Research and Data Analysis professionals within the agency and is already being used throughout RIHousing’s various departments. The tool has expanded the agency’s capacities in reporting and analyses of housing insights and trends, keeping RIHousing as the leading resource for housing programs and information in the state.

“The dedicated team has been working on this system for the past couple of years,” said Ventura. “We’re proud of our accomplishments and are excited for the future updates and expansions to the server.”

The NCSHA Annual Awards for Program Excellence identify and elevate industry best practices as well as encourage continued HFA innovation. In 2023, more than 35 HFAs submitted entries to the awards program which were presented at NCSHA’s 52nd Annual Conference held in Boston in October.

Providence, RI –  Today, after successfully helping more than 1,700 Rhode Islanders stay in their homes, RIHousing announced its Homeowner Assistance Fund Rhode Island (HAF-RI) program is closing to new applications.

“We’re proud to have helped many homeowners across Rhode Island keep their homes in the wake of the pandemic,” said Carol Ventura, Executive Director of RIHousing. “While our HAF-RI program is now closed to new applications, RIHousing remains committed to helping homeowners in need through other existing resources, like our HelpCenter, which provides free counseling to Rhode Islanders facing foreclosure.”

Launched on January 10, 2022, HAF-RI provided much-needed financial assistance to eligible Rhode Island homeowners who struggled to pay their mortgage and/or other housing-related expenses due to the COVID-19 pandemic. Funded via the federal Homeowner Assistance Fund that was approved as part of the American Rescue Plan Act in spring 2021, Rhode Island received $50 million in program funds. Administered by RIHousing, HAF-RI helped prevent mortgage delinquencies and defaults, foreclosures, loss of utilities and home energy services, and displacement of homeowners.

While this program is closing, Rhode Island homeowners who are currently struggling to make their mortgage payments and/or facing foreclosure have several assistance options available:

• Contact a HUD-approved housing counselor such as the RIHousing HelpCenter. Dedicated housing counselors work with homeowners and their lenders to review and identify available options to avoid foreclosure. Options may include loan modifications, work-out agreements, repayment plans and/or referral to RI Legal Services. A list of HUD-approved counseling agencies is available online at: hud.gov/findacounselor. The RIHousing HelpCenter can be reached via the agency’s website at www.rihousing.com/homeowner-assistance or 401-457-1130.

• Directly contact their loan servicer about opportunities to restructure their mortgage.

• Contact a local Community Action Agency (CAP) about available utility assistance programs. A list of Rhode Island CAP agencies is available at: ricommunityaction.org.

Providence, RI – This month, RIHousing launched its new online database search system to better connect Rhode Islanders to available affordable housing units.

During the 2022 session, the Rhode Island General Assembly passed legislation (H-7944A/ S3051) calling for the creation of this new online database to be managed by RIHousing. The online searchable database, which went live in June, includes information on low-income rental units across the state, including contact information for developments, application information as available, and information relative to key populations a development may serve, such as residents who are elderly or disabled, or families impacted by domestic violence.

“The legislature is committed to providing the tools necessary to assist individuals and families have better access to affordable housing,” said Speaker K. Joseph Shekarchi. “I’m so pleased that RIHousing has completed this database, which will enhance our collective efforts to connect Rhode Islanders with the housing opportunities they need.”

The database includes helpful information for tenants such as pictures, a map of the development when available, rent level, unit characteristics, and site amenities. The site also features an affordability calculator and list of community resources.

“Affordable housing is one of the most important issues facing our state,” said Senate President Dominick J. Ruggerio (D-Dist.4, North Providence, Providence). “I was proud to support this effort to provide more readily available information to the public about affordable housing availability and development.”

The online database (housingsearchri.org) is an expansion of the pre-existing housingsearchri.org, a platform originally launched by RIHousing as a free resource for renters to look for housing in the state and for landlords and property owners to advertise available units. The bolstered site now includes a targeted search tool focused on connecting families to low- and moderate-income units.

“Too many families already face barriers to accessing a home that’s affordable – finding basic information on available units throughout our state and how to apply shouldn’t be one of them,” said Carol Ventura, Executive Director of RIHousing. “I want to thank Speaker Shekarchi, President Ruggerio and Representative Corvese for their leadership role on legislation that spurred the development of this technology tool to help Rhode Islanders access affordable housing.”

The database is available in English, Spanish, and additional languages. Learn more at Housingsearchri.org or call the toll-free call center for assistance at 1-877-428-8844 (open Monday-Friday, 9:00am – 8:00pm).

Providence, RI – RIHousing, the Rhode Island Office of Energy Resources (OER) and Rhode Island Energy (RIE) today announced the extension of the 2023 Zero Energy for the Ocean State (ZEOS) Program. The extension will allow additional developers to submit proposals for a competitive round of funding for grants of up to $500,000 to design and construct affordable, energy efficient housing for low- and moderate-income Rhode Islanders. Applicants will now have until 5:00 p.m. on August 31, 2023, to submit a proposal.

The deadline extension will allow additional time to raise awareness and encourage participation in the ZEOS Program to stimulate innovative, replicable solutions that utilize cost saving and clean energy technologies in homes. Qualified teams are encouraged to submit proposals to design and construct affordable, energy efficient Zero Energy Buildings (ZEBs).

ZEBs utilize technologies such as solar, air-source heat pumps and encourage use of systems to reduce energy consumption during peak demand to reach zero net energy consumption. The total amount of energy used by ZEBs annually is less than or equal to the renewable energy created on site.

Established in 2019, the ZEOS Program has supported the development of 186 Net Zero housing units in Rhode Island. In its most recent round of funding, three projects in Tiverton, Providence, and East Greenwich received funding to produce homes with innovative designs for several income levels.

This program is the result of a public-private partnership between RIHousing, OER, and RIE to stimulate innovative, replicable solutions that utilize cost saving and clean energy technologies in homes. Program partners are seeking proposals from qualified teams to design and construct affordable, energy efficient Zero Energy Buildings (ZEBs) that use technologies such as solar, air-source heat pumps and encourage use of systems to reduce energy consumption during peak demand.

The extended Request for Proposals will be publicly posted on the RIHousing website www.rihousing.com/rfps-rfqs on May 30, 2023. Eligible units may be new construction and/or renovation projects in 1-4-unit properties or larger multifamily homes. The ZEOS grant award will be limited to $17,000 per unit for 1-4-unit properties and $7,000 per unit for larger multifamily developments. Buildings must meet ZEB standards and participate in RIE’s Residential New Construction Program. The total award cannot exceed $250,000 for any individual project. Previously funded ZEOS projects are not eligible for this grant.

The program leverages multiple sources of funding, including a $250,000 grant from RIHousing, $250,000 in state Renewable Greenhouse Gas Initiative (RGGI) proceeds, and available utility-administered incentives. Individual organizations or teams composed of a lead organization and partner organizations are welcome to apply. Individual homeowners are not eligible to receive direct funding under this grant. Complete details on the program and RFP can be found online at: www.rihousing.com/rfps-rfqs.

Providence, RI – RIHousing announced its top-producing lender partners of 2022 as part of its annual recognition of industry partners. Working with more than 40 lender partners throughout Rhode Island, the agency helped over 1,300 first-time homebuyers purchase homes last year.

“While Rhode Island’s housing market experiences low inventory and higher interest rates, RIHousing has been working for the past 50 years to offer innovative products to help first-time homebuyers buy a home that fits their needs,” said Peter Pagonis, Director of Homeownership at RIHousing. “Our network of Participating Lenders has been critical for us to accomplish this.”

RIHousing announced Main Street Home Loans as the agency’s Participating Lender of the Year for the third consecutive year. In 2022, Main Street Home Loans funded more than $90 million in first mortgages for 263 families through RIHousing’s homeownership programs.

“We want to provide the best product for first-time homebuyers in Rhode Island,” said David Travers, Area Manager, Main Street Home Loans. “Not even just them, [but] anyone we can put into RIHousing programs, we will. It’s a local partnership and it means a lot.”

In addition to celebrating its partnership with Main Street Home Loans, RIHousing also recognized its Top Producing Loan Officers:

• Patricia Vargas, Main Street Home Loans (Gold Partner)
• Mauricio Garces, Primary Residential Mortgage Inc. (Silver Partner)
• Waldy Ripoll, Movement Mortgage (Bronze Partner)

Patricia Vargas, based in Providence, immigrated to Rhode Island from the Dominican Republic in 1993 and has been a loan originator for almost 7 years. She originated over $19 million in first mortgages with RIHousing and helped 52 Rhode Island families achieve their dream of homeownership in 2022. As a first-time homeowner herself, Patricia understands the overwhelming process of homeownership and emphasizes the importance of consistency, due diligence, follow-up and education during the mortgage process.

“It feels so good to know how many families I was able to help– I was so excited!” said Vargas, Senior Home Loan Consultant, Main Street Home Loans. “I feel very accomplished. Anyone who can take advantage of [RIHousing’s] programs, I offer it.”

Mauricio Garces, based in Cranston, came to the United States from Colombia at the age of 11 and has been originating in Rhode Island since 1999. In 2022, Garces has assisted 46 families reach their dream of homeownership and originated more than $16 million in first mortgages. As a Latino American, Garces takes pride in being able to assist other Latino and Hispanic people navigate through homeownership.

“It is about helping people,” shared Garces, Loan Officer, Primary Residential Mortgage. “It’s great to know I can help them with RIHousing. A big barrier is that they don’t have the money for down payment, but RIHousing programs makes it possible.”

Waldy Ripoll, based in Cranston, has originated mortgages for four years. Originally from the Dominican Republic, Ripoll credits his value in hard work to his entrepreneur parents. This year, Ripoll assisted 42 families and has originated more than $15 million in first mortgages. He shares that seeing first-time homebuyers reach their goals is the most fulfilling part of his job:

“I go above and beyond for my clients by providing consistency and education,” said Ripoll, Loan Officer, Movement Mortgage. About his success he shares, “I guide them in the right direction, be up–front and always tell what to work on if they’re not ready for homeownership yet. Sincerity has grown my business to be able to help many more first-time homebuyers– and that’s been a blessing.”

For the past 50 years, RIHousing has offered an extensive line of loan options for first-time homebuyers, current homeowners and Rhode Islanders looking to improve their homes. Since 1973, approximately 85,000 first-time homebuyers have received assistance in purchasing their home through the agency. RIHousing loans are available through the RIHousing Loan Center and a network of participating lenders across the state.

WEST WARWICK, RI – Joined by state and local leaders, Governor Dan McKee, Secretary of Housing Stefan Pryor, and RIHousing Executive Director Carol Ventura presented keys to new homeowners in West Warwick in honor of the first 100 closings under the RI Statewide Down Payment Assistance (DPA) Grant program. The homeowners, a family of four from West Warwick, received a $17,500 grant to help with down payment assistance and closing costs to purchase their new home under the statewide program, which aims to address financial barriers to homeownership.

“Congratulations to the Cruz family for becoming homeowners. This is what it’s all about – helping Rhode Islanders achieve their dream of homeownership,” said Governor McKee. “Programs like the RI Statewide DPA Grant are key priorities of my administration to create opportunities for Rhode Islanders to build wealth and invest in their future.”

As of February 2023, 41 first-time homebuyers have received $717,500 through the RI Statewide DPA Grant Program since its launch late January of this year. Funded through the next several fiscal years, the program is poised to provide grant assistance to hundreds more eligible homeowners interested in purchasing their first home.

“This program is opening new doors for economically-disadvantaged Rhode Islanders looking to invest in home ownership,” said Lieutenant Governor Sabina Matos. “Keeping housing affordable and accessible to local families is the key to a strong economy and a thriving state.”

“I worked hard to ensure Rhode Island has a flexible source of federal funding to help address the need for affordable housing.  We must do everything we can to help make homeownership more affordable for working families,” said U.S. Senator Jack Reed.

“I commend Governor McKee for putting this funding from Democrats’ historic American Rescue Plan to such good use,” said U.S. Senator Sheldon Whitehouse. “Rising housing costs have pushed homeownership out of reach for too many families in Rhode Island, and RIHousing’s Down Payment Assistance program is helping first-time buyers put down roots in communities across the state.”

“Every Rhode Islander deserves access to affordable housing, and thanks to the American Rescue Plan we are making critical investments in our communities that are creating new paths to homeownership,” said U.S. Congressman David Cicilline. “I’m thrilled for all of the first-time homebuyers who have benefited from the RI Statewide DPA Grant program and look forward to additional progress made possible through this vital investment of federal funds.”

“Saving the money for a down payment can be a huge hurdle for many prospective homebuyers,” said House Speaker K. Joseph Shekarchi. “Housing is my top priority because I know how transformational housing can be – all positive outcomes begin with a home that is stable, safe and affordable. Being able to save for a down payment is a challenge in today’s economy. By removing that barrier, Governor McKee and the legislature are enabling hundreds of Rhode Island families to achieve the dream of homeownership.”

“Between current conditions in the housing market and rising costs across the board, saving for a down payment on a home can be extremely difficult,” said Senate President Dominick J. Ruggerio. “This grant program makes a real difference for first-time homebuyers, opening doors to the life-changing and wealth-building benefits of homeownership. Housing in Rhode Island needs to be more affordable and accessible at every price level, and this program is a key part of our work to achieve those goals.”

“The Department of Housing is committed to expanding and enhancing housing opportunities for Rhode Islanders, homeowners and renters alike,” said Secretary Stefan Pryor. “We all know that homeownership is not just about finding a place to live, but it also provides an opportunity for financial security to be strengthened and passed across generations.”

“We are committed to providing affordable housing opportunities for all Rhode Islanders,” said Carol Ventura, Executive Director of RIHousing. “The impact of the RI Statewide DPA Program is just one of many ways that we are helping families achieve their dream of homeownership.”

Available to eligible Rhode Island first-time homebuyers, the program offers $17,500 in down payment and closing cost assistance grants. The program is being funded with $30 million of the $250 million in federal American Rescue Plan Act (ARPA) State Fiscal recovery funds earmarked to address housing issues in Rhode Island. RIHousing serves as administrator of the program.

“We are proud to offer this new statewide initiative that provides down payment and closing cost assistance to first-time homebuyers,” said Peter Pagonis, RIHousing Director of Homeownership. “It is a powerful tool to help families and individuals overcome the financial barriers to homeownership.”

Juan and Emelin Cruz, the new homeowners, had recently rented an apartment along with their two children in before purchasing their home. Juan, who supports through his work at the post office and a second job is positive of the support he received through the program.

“Without this assistance, my family and I would not have been able to afford our home,” said Juan Cruz, Jr. “I am thankful for my realtor and the staff at RIHousing for the opportunity to own my home and to be able to pass it down to our children.”

Eligible applicants must be first-time homebuyers purchasing a one-to-four family home or condominium in Rhode Island; meet income and credit score guidelines; and must live in the home as their primary residence. Homebuyers must also complete a RIHousing-approved Homebuyer Education class to prepare them for sustainable homeownership. The down payment assistance is a grant that does not need to be repaid.

FOR IMMEDIATE RELEASE

March 15, 2023

Media Contact:

Robert Beadle

robert.beadle@energy.ri.gov

401-400-7819

Providence, RI – RIHousing, the Rhode Island Office of Energy Resources (OER) and Rhode Island Energy (RIE) have released a Request for Proposals (RFP) for the 2023 Zero Energy for the Ocean State (ZEOS) Program. This program offers up to $500,000 in grants to design and construct affordable, energy efficient housing to serve low- and moderate-income Rhode Islanders.

This program is the result of a public-private partnership between RIHousing, OER, and RIE to stimulate innovative, replicable solutions that utilize cost saving and clean energy technologies in homes. Program partners are seeking proposals from qualified teams to design and construct affordable, energy efficient Zero Energy Buildings (ZEBs) that use technologies such as solar, air-source heat pumps and encourage use of systems to reduce energy consumption during peak demand.

“A necessary spotlight is on housing right now in Rhode Island, and we must use this moment and momentum to invest in more projects that help address the pressing needs of our neighborhoods and communities,” said Carol Ventura, Executive Director at RIHousing. “As we focus on making new affordable housing units available to families, it’s just as important to ensure these projects also help – not harm – our environment, and work toward meeting our state’s bold zero-emission goal. Our ZEOS Program does just that.”

Zero Energy Buildings are defined as an energy-efficient building with zero net energy consumption, meaning the total amount of energy used by a building on an annual basis is less than or equal to the amount of renewable energy created on the site.

This new grant funding is being made available following a successful second round of ZEOS in 2021 that resulted in the funding of three projects in Tiverton, Providence, and East Greenwich, with a variety of income requirements and innovative designs. Among the 2021 awards, Tiverton’s Bourne Mill III project, currently under construction and expected to be completed in April 2024, is a 59-unit new construction project featuring a clean energy all-electric building with a solar photovoltaic array and electric vehicle charging. The energy efficient design adheres to strict Passive House standards and is targeted to hit a Net Zero rating.

Since the ZEOS program began in 2019, it has supported the development of 186 units of Net Zero housing.

“The 2021 Act on Climate sets Rhode Island on a path to reach net-zero emissions by 2050 and the ZEOS program is an important part of that goal,” said Acting State Energy Commissioner Chris Kearns. “We must continue to develop affordable and sustainable net zero homes that reduce energy consumption, decrease costs, and create jobs in our local economy. This request for proposals represents another meaningful step forward in our successful collaboration with RIHousing and Rhode Island Energy to achieve these ambitious climate goals, while expanding affordable housing in our state.”

The Request for Proposals is publicly posted on the RIHousing website at https://www.rihousing.com/rfps-rfqs. Eligible units may be new construction and/or renovation projects in 1-4-unit properties or larger multifamily homes. The ZEOS grant award will be limited to $17,000 per unit for 1-4-unit properties and $7,000 per unit for larger multifamily developments. Buildings must meet ZEB standards and participate in RIE’s Residential New Construction Program. The total award cannot exceed $250,000 for any individual project. Previously funded ZEOS projects are not eligible for this grant.

"We’re excited to build upon the success the ZEOS initiative has achieved over the past few years in bringing more net zero energy homes to the affordable housing market in Rhode Island,” said Brett Feldman, head of energy efficiency strategy at Rhode Island Energy. “These grants and the projects are critical in helping to ensure we have a reliable, equitable and scalable roadmap to help more Rhode Islanders participate in the clean energy future.”

This program will leverage multiple sources of funding, including a $250,000 grant from RIHousing, $250,000 in state Renewable Greenhouse Gas Initiative (RGGI) proceeds, and available utility-administered incentives. While individual homeowners are not eligible to receive direct funding under this grant, individual organizations or teams composed of a lead organization and partner organizations are welcome to apply.

Complete details on the program and RFP can be found online at: www.rihousing.com.

**About RIHousing
**RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit RIHousing.com or follow us @RIHousing on Facebook and Twitter.

About the Rhode Island Office of Energy Resources

The Office of Energy Resources (OER) is Rhode Island’s lead state agency on energy policy and programs. The mission of OER is to lead Rhode Island to a secure, cost-effective, and sustainable energy future. OER works closely with private and public stakeholders to increase the reliability and security of our energy supply, reduce energy costs and mitigate price volatility, and improve environmental quality.

About Rhode Island Energy

Rhode Island Energy provides essential energy services to over 770,000 customers across Rhode Island through the delivery of electricity or natural gas. Our team is dedicated to helping Rhode Island customers and communities thrive, while supporting the transition to a cleaner energy future. Rhode Island Energy is part of the PPL Corporation family of companies addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions. For more information visit www.RIEnergy.com and stay connected on Twitter, Facebook, and Instagram.

Please use the below link to view The Bond Buyer’s recent article highlighting our upcoming Homeownership Opportunity Bonds, Series 79-A, Series 79-T-1, and Series 79-T-2 sale.

**RIHousing Receives National Honors for Energy Efficiency and Policy Efforts

Celebrate New Homes in Burrillville**

_Recognition demonstrates agency’s innovative efforts to address housing issues across the state

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Providence, RI – RIHousing, Rhode Island’s housing finance agency, has been selected as the recipient of two national awards for program excellence from the National Council of State Housing Agencies (NCSHA). The awards recognize RIHousing’s collaborative efforts to reduce energy and energy costs for low and moderate income renters and protect renters from discrimination based on income.

“It is an honor to win these national awards from our peers who understand that solving housing issues at a state-level is often a multi-faceted, multi-agency endeavor,” said Carol Ventura, Executive Director of RIHousing. “While RIHousing was singled out for this recognition, both our ZEOS program and advocacy to enact source of income discrimination protection would not have been possible without the key collaboration and partnership of state and local partners.”

The NCSHA Annual Awards for Program Excellence identify and elevate industry best practices as well as encourage continued HFA innovation. In 2022, 40 HFAs submitted entries to the awards program which were presented at NCSHA’s 51st Annual Conference in October.

RIHousing was recognized with a ‘Multifamily Management’ award for the Zero Energy for the Ocean State (ZEOS) pilot program, a public-sector partnership between RIHousing, the Rhode Island Office of Energy Resources (OER) and RI Energy (formerly National Grid) to explore innovative, replicable solutions to utilize cost saving, clean energy technologies in homes. Announced in 2019, the ZEOS program provides funding for the creation of highly energy efficient housing for low- and moderate-income Rhode Islanders. To date, the ZEOS program has provided $1,365,000 for the development of 138 units across 8 development projects.

“As we come to understand the impact of climate change, we recognize housing’s contribution to greenhouse emissions and seek to create a smarter model for the construction of homes,” said Carol Ventura. “This program allows us to support renewable energy efforts, but also ensures that Rhode Island families have access to energy and cost-efficient housing options.”

The award for ‘State Advocacy’ recognizes the agency’s efforts to advocate for the passage of the Fair Housing Practices Act that provides protection against Source of Income discrimination in housing. As a member of the Income Discrimination Coalition, a broad cross-sector coalition of over 40 organizations, RIHousing co-facilitated and led the implementation of a grassroots advocacy campaign. This advocacy effort documented the scope of Source of Income discrimination, shared compelling multi-media materials to engage policymakers and helped Rhode Island become the 16th state in the nation to pass legislation to protect Section 8 voucher holders from this form of discrimination.

“As we work to create innovative, energy-efficient homes, it is equally important to ensure that Rhode Island families have fair and equitable access to them,” said Ventura. “We thank the many partners and allies that worked with us and state leaders to ensure that legal protections against source of income discrimination became law.”

For information on the ZEOS pilot program, visit www.rihousing.com/rihousing-oer-announce-request-for-proposals-for-green-energy-efficient-housing/. For information on the Fair Housing Practices Act, visit www.rihousing.com/wp-content/uploads/SOI-Information-Sheet-4-29-21.pdf

Burillville, RI – Today, U.S. Senators Jack Reed and Sheldon Whitehouse joined Housing Secretary Josh Saal, NeighborWorks Blackstone River Valley (NWBRV), RIHousing, funding and community partners, and new homeowners to celebrate the completion of Phase III and start of construction for Phase IV at the Fernwood ‘Mutual Self-Help’ Housing Development in Burrillville.

“A good neighbor will let you borrow a hammer. A great neighbor will help build your house!” said U.S. Senator Jack Reed, a senior member of the Banking Committee and a strong Congressional backer of both the USDA Mutual Self-Help Program and HOME funding. “Housing affordability is a real issue right now and we’ve got to address it from every angle. With federal support, expertise from RIHousing and NeighborWorks Blackstone River Valley, and a priceless amount of sweat equity, these Pascoag families worked together to build their own homes, assist their neighbors, and build a wonderful neighborhood.”

Built, in part, by the homeowners themselves to preserve affordability, Fernwood is the development of a 30-unit homeownership neighborhood located in the village of Pascoag. Being developed in four phases, with the first three phases complete, to date, Fernwood has created 22 homeownership opportunities for families. Fernwood Phase III has recently been completed and is occupied by homeowners while Fernwood IV is set to break ground.

“Rising housing costs have pushed homeownership out of reach for too many Rhode Island families. Federal investment supported the Fernwood development, which pairs interested families with construction professionals to build their own homes,” said U.S. Senator Sheldon Whitehouse. “Innovative developments like this one increase affordable housing options while forging a sense of community among neighbors.”

The multi-phase development has been supported via USDA Rural Development’s unique ‘Mutual Self Help Housing’ program. The program gives qualified first-time homebuyers the opportunity to work under the supervision of a construction manager to help build their own homes. Families work in teams, committing to 30 to 35 hours of work each week to building each other’s homes until the development is complete. This ‘sweat equity’ cuts the cost of each home nearly in half, making the dream of homeownership affordable for low- to moderate-income families.

“The Fernwood Development is a great example of how neighbors can come together through innovative partnerships and create affordable homeownership opportunities,” said Rhode Island Secretary of Housing Josh Saal. “I commend NeighborWorks and its partners for helping us reach yet another milestone in this important development, which could not happen without the continued support of our federal and state officials. Most importantly, I congratulate each of the first-time homeowners who put much love and labor into building this wonderful community.”

”The homes at Fernwood are located on individual lots within a cul-de-sac neighborhood on George Eddy Drive off of Reservoir Road in the village of Pascoag in Burrillville. Each home includes three bedrooms, 1.5 baths and is set on 1/3 of an acre of land within the development. The houses are designed to reflect the character of historic homes in the area. In addition to physically building their homes, homeowners choose the color and style of their house (Saltbox or Early American) prior to construction. They select the layout, the colors, and finishes, making their houses truly their own.

“NeighborWorks is excited to offer the sweat equity model of affordable homeownership in Rhode Island” shares Joe Garlick, Executive Director of NeighborWorks Blackstone River Valley. “It is not for the faint hearted, but for those who are able to put in the time and effort, this is a great opportunity to own their own. The “Selfies” are the State’s frontline affordable housing do-ers. We celebrate them for their grit and determination to put a roof over their heads. We also acknowledge the support of our Federal, State & local partners who make it all possible with the financing and other financial support.”

According to the HousingWorks RI 2021 Fact Book, the median single-family home price in 2020 in Burrillville was $300,000, an increase of 32% since 2015. Given rising interest rates and limited housing stock, NWBRV’s Self-Help Housing program at Fernwood is one program keeping homeownership within reach. The homes are restricted to households earning between 50% to 80% of AMI (Area Median Income).

The development was funded through USDA Mutual Self-Help program funds, the federal HOME program, the Building Homes Rhode Island (BHRI) state bond referendum, the Federal Home Loan Bank of Boston’s affordable housing program (AHP), RIHousing’s Homeownership Investment Fund (HIF) program and funding from Neighborworks America and LISC (Local Initiatives Support Corporation). The property was held in RIHousing’s Land Bank while financing was secured.

“Celebrating newly constructed affordable homes for first-time homebuyers is a big deal,” said James Comer, Deputy Director of RIHousing. “Today, we are celebrating more than the completion of construction on these new homes. We are celebrating the families who recently moved into the homes they worked so hard to build, achieving their dreams of homeownership. Working together, utilizing innovative funding programs, and bringing together federal, state, local, for and non-profit partners we can open the doors to homeownership for even more Rhode Islanders.”

The development stands on roughly 14 acres, preserving the surrounding open space. The site allows residents to live in a rural setting, with all the amenities of downtown Pascoag nearby. The new structures are Energy Star rated, built to conserve water, and feature renewable materials. Fernwood was awarded a 2019 Outstanding Smart Growth Project Award from Grow Smart RI for its compact design and preservation of natural resources and open space. It’s location, particularly quiet and without streetlights, illustrates its commitment to these design principles.

“The experience has been so wonderful for my partner Cindy and me,” share June Degre, Fernwood III builder and homeowners. “We never thought we’d be able to build or afford our own home. It’s been hard work, but beyond well worth it. I highly recommend this program.”

_Redevelopment of mill property will add new housing options and commercial space while

preserving important piece of state’s heritage
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Providence, RI – Governor Dan McKee, U.S. Senator Jack Reed, Congressman Jim Langevin, Rhode Island Housing and state and local leaders today announced the beginning of the redevelopment and adaptive reuse of the historic Arctic Mill into rental housing and commercial space. The Arctic Mill development is the adaptive reuse of two separate historic textile mill buildings into a mixed-use complex comprised of both commercial space and residential rental apartments.

“As Rhode Island continues to lead the region in economic recovery, the Arctic Mill project promises to increase our state’s affordable and market-rate and housing supply while creating good paying jobs in the construction and aligned trades all while reinvigorating one of Rhode Island’s historic mills” said Governor Dan McKee. “For Rhode Island to be an attractive place to live, work, and raise a family, we must address the availability and quality of housing – 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. Our Administration’s quarter-billion-dollar housing proposal currently before the General Assembly will allow Rhode Island to do more projects like this and create much needed housing options at all levels.”

“This is about preserving our history, investing in the future, and revitalizing neighborhoods. I’m pleased that this project will utilize federal investments to breathe new life into this historic property and do so in a way that will ensure more working families can afford a place to live and new businesses can find a place to thrive,” said Senator Reed.

“Creating more affordable housing options for working Rhode Island families is essential to economic growth and development throughout Rhode Island,” said Congressman Jim Langevin. “The transformation taking place at Arctic Mill is a win-win for our state as it’s expanding rental housing options while also preserving a significant piece of our state’s history.”

Located along the Pawtuxet River in West Warwick, the 19th century Arctic Mill is currently being rehabilitated by Knight Street Capital, the developer responsible for the recent rehabilitation of Pontiac Mills in Warwick. The redevelopment effort will produce a total of 136 rental units, 105 which will be market rate and 31 for households earning up 100% of Area Median Income (AMI). Once completed, the development will also feature 10,000 square feet of office and retail space, including an onsite brew pub.

The funding for Arctic Mill comes from various sources, including Federal Historic Tax Credits, RIHousing’s Workforce Housing Loan, the Rebuild RI Tax Credit program, and developer equity. The total development cost is $32.7 million. Administered by Commerce RI, the RebuildRI Tax Credit program provides gap financing for commercial office, industrial, residential, mixed-use development, ground-up construction, and historic rehab, offering redeemable tax credits covering up to 20% – and, in some cases, 30% – of project costs. The state program helps qualified developers and business owners close financing gaps in projects that promise to deliver economic development benefits. The Rebuild Rhode Island tax credit is not paid out until the project has received a certificate of occupancy and then is paid out over 5 years.

“Adaptive reuse projects like Artic Mill exemplify the mix of creativity and determination needed to push the needle forward and address the shortage of units in communities across the State,” said Deputy Secretary of Housing Josh Saal. “The rehabilitation of this facility into a mixed-use, mixed-income development will assure we will create the housing infrastructure needed to ensure our communities continue to economically thrive, while paying homage to our State’s industrial history.”

“West Warwick is proud of our historic industrial past,” said West Warwick Town Manager Colonel Mark Knott. “Many of our residents remember working and growing up in the surrounding neighborhood, raising families, supporting one another and creating a tight-knit community in its shadows. The renovation of the property ensures this over 150 year old structure will play an important role in our town’s future.”

Built in 1865 using the stone walls of an earlier mill structure built in 1852 on the site, the main mill building sits alongside a stone dam on the Pawtuxet River in the Arctic section of West Warwick. In 1885, the property was bought by B. B. & R. Knight, who operated 35,824 spindles and 1,039 looms in the mill. The mill continued to be used for textile manufacture into the 20th century before being used by NATCO Products Corporation, which occupied the mill until recently. A second building on the site, a former guardhouse will be renovated for commercial use.

“It’s an exciting day to celebrate what will be a true transformation of this historic property,” said Larry Phillips, Knight Street Capital. “We recognize that Rhode Islanders need a range of housing options and at different price points. The homes we are creating here will meet a growing demand for both market rate and middle-income housing.”

RIHousing’s Workforce Housing program seeks to expand the range of housing options available in Rhode Island by addressing the affordable housing needs of a segment of the state’s population who are increasingly caught in the gap between rising market rents and ineligibility for other affordably assisted housing.

“There is a growing awareness of the challenges facing middle-income workers. Today’s high demand paired with low supply has driven housing prices up and out of reach for many middle-income workers, and many local governments are exploring and implementing strategies to stimulate the creation of workforce housing,” said Carol Ventura, Executive Director of RIHousing. “The WHIC program is one important tool that helps respond to the need for middle-income housing by filling a growing and significant gap in a tight housing market of rising rents that has been exacerbated by the COVID-19 pandemic.”

The new rental homes will help meet the need for rental options in the central part of the state. The property’s central location provides easy access to major highways as well as public transportation, shopping, recreational and educational facilities. Once completed, the property will include a variety of amenities including media rooms, a boxing gym, breakout rooms and more. The architects for the project are Urban Design Group, LLC.

_RentReliefRI program closes 14 months after its launch, having helped over 30,000 renter households to date

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Providence, RI – The federally funded RentReliefRI program closes to new applications at 11:59 p.m. on Wednesday, June 1, 2022. Launched in March of last year, the program provides financial assistance to cover rent arrears, forward facing rent, utility arrears and certain other housing expenses. Funded via the U.S. Treasury, the federally-funded RentReliefRI program provides financial assistance to eligible Rhode Island renters impacted by the COVID-19 pandemic.

“We launched the RentReliefRI program during a stressful time for Rhode Island renters due to job losses and the impact of the COVID-19 pandemic,” said Carol Ventura, Executive Director of RIHousing. “Now, 14 months later, thousands of Rhode Island renter households have been able to remain in their homes, stay current on their rent and utilities and look toward a brighter future.’’

The RentReliefRI program was funded via $200 million from the Emergency Rental Assistance (ERA) program in the Consolidated Appropriations Act, 2021 (P.L. 116-260) and an additional $152 million in ERA funding in the American Rescue Plan Act (P.L. 117-2). To date, over 30,000 Rhode Island renter households have been approved for more than $200 million in rental and/or utility assistance from the program.

RIHousing announced the closing of the program to new applications early last month as the agency anticipated that all remaining RentReliefRI funds allocated to financial assistance to renters would soon be depleted. Completed applications submitted prior to 11:59 p.m. on June 1, 2022, will continue to be processed and those that meet eligilibity guidelines will be eligible to receive assistance after the closing date, which will be limited to past due rent and utilities, current month’s rent and three (3) months forward-facing rent, after which time there will be no further financial assistance under the RentReliefRI program.

The program’s success was due in part to a vast network of partner agencies who supplied support and application assistance to renters as well as an outreach effort, which included in-person application assistance events at locations across the state. One of the most successful aspects of the program has been the eviction diversion efforts with partner staff located at all Rhode Island courthouses hearing evictions. Partners were able to meet one-on-one with renters and their landlords in order to assist with applications and avoid evictions.

“RIHousing is grateful for the support and partnership received from a wide variety of elected officials, municipalities, state agencies, utility carriers and the non-profit community,” noted Ventura. “Collectively, these partnerships allowed us to reach Rhode Islanders across the state, remove barriers, and assist renter households in accessing these important funds.”

Available statewide, to date, the top ten municipalities based on funding approvals are: Providence, Pawtucket, Woonsocket, Cranston, Central Falls, North Providence, West Warwick, Warwick, East Providence, and Johnston. Program data illustrates that of the approved applications, 61% of applicants represent minority populations, 68% are female heads of household, and 72% are households earning less than 30% area median income (AMI), which translates into roughly $26,500 annual income for a family of four in most parts of the State.

RentReliefRI staff will continue their review of program applications submitted prior to today’s deadline over the coming weeks and months. It is anticipated that the federal funds will all be depleted by September 2022.

Details and information on the status of program applications and funding approvals is available online at www.rihousing.com/rent-relief-ri-dashboard/.

_New effort will address healthcare and affordable housing needs in communities that require it most

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Providence, RI – Governor Dan McKee and RIHousing announced the award of $150,000 in funds to help Rhode Island develop a pipeline of sustainable, affordable and service-enriched housing developments that address specific healthcare and affordable housing needs in Rhode Island communities that require it most. The funds will help RIHousing, the state’s housing finance agency, to establish a Housing, Health and Equity Partnership with a broad range of entities and community organizations across the state.

“This work is timely and needed,” said Governor Dan McKee. “The intersection of housing and healthcare is important to our state and its residents. Where people live directly affects their well-being and future outcomes. These grant funds will help us to broaden the affordable housing conversation and partnerships to include healthcare leaders, funders, local community groups and others to further expand the available capital and commitment to affordable housing production.”

The grant funding comes from the National Council of State Housing Agencies’ (NCSHA) Healthy Housing, Healthy Communities (H3C) Partnerships initiative, made possible with funding from the Robert Wood Johnson Foundation and technical assistance and expertise from the Center for Community Investment. Rhode Island is one of six grantees to be awarded grant funding and technical assistance to support partnership efforts with hospitals and health systems to expand financing for affordable housing. Grant funding will help develop strategic partnerships with hospitals and other health organizations to finance affordable housing.

“Safe, stable, affordable housing is foundational to better health outcomes,” said Carolyn E. Belisle, Managing Director, Corporate Social Responsibility, Blue Cross & Blue Shield of Rhode Island (BCBSRI). “BCBSRI is excited to join this powerful partnership. The work ahead aligns with our commitment to finding new ways to finance and develop supportive housing and services that meet the needs of all Rhode Islanders. The grant creates a unique opportunity to strengthen the role of healthcare systems in addressing critical housing needs.”

H3C funding will leverage existing healthcare system investments in the housing sector, including a newly negotiated $4 million investment from BCBSRI to LISC Rhode Island. RIHousing will utilize grant funds to develop a health, housing and equity plan of action building on the work that five of the state’s Health Equity Zones (HEZ) have initiated, in partnership with LISC Rhode Island, healthcare providers, for and non-profit organizations and community groups.

Established by the RI Department of Health, HEZs are community-led, multi-sector collaboratives that work in the state’s most under resourced neighborhoods to address persistent health disparities and strengthen social determinants of health, including housing. The five partnering HEZs are in the six cities with the highest child poverty rates in the state: Central Falls, Newport, Pawtucket, Providence, West Warwick, and Woonsocket.

To ensure that local communities are effectively and highly engaged in the planning process and to ensure a deep commitment to racial and social equity, steering committee partners will work closely with the lead or “backbone” organizations from each of five HEZs.

“We’re excited to be part of this important effort to establish a formal housing and healthcare sector collaboration in Rhode Island,” said Jeanne Cola, Executive Director of LISC RI. “LISC fully understands that housing insecurity has emerged as the most impactful social determinant of health as healthcare costs have soared, vacancy rates have plunged, and incomes have remained stagnant. We are committed to leveraging our HEZ work, statewide outreach, and decades of affordable housing investment to help Rhode Island establish meaningful collaborations between housing and healthcare entities to broaden investment opportunities for housing production and services.”

The H3C grant aims to leverage the role RIHousing, LISC RI and BCBSRI to attract significant health institution involvement and elevate community-level leadership in addressing the housing affordability crisis in Rhode Island. Community-level leadership and engagement will play a key role in the effort partnership.

“RIHousing looks forward to facilitating an inclusive planning process to assemble and align resources across healthcare, housing, support services, and community-based providers to finance new affordable housing units in up to five Health Equity Zones (HEZs) across the state,” said Carol Ventura, Executive Director of RIHousing. “We are committed to creating a durable and replicable model that will leverage healthcare sector investments statewide to significantly expand Rhode Island’s supply of affordable and supportive housing while creating more healthy households and communities.”

By the end of the planning process, RIHousing will have developed a_ Housing, Health, and Equity Partnership Plan_ that specifies financial and other commitments the agency and its partners will make to develop or preserve affordable housing in a manner that improves community health and advances social and racial equity. A critical outcome of this effort will be the development of a diverse pipeline of healthcare supported affordable housing projects within the targeted HEZs. Additionally, the Housing, Health and Equity Partnership will work to establish a vehicle through which new projects can be identified and advanced within additional HEZs, cities and towns statewide.

Learn more about the NCSHA’s H3C Partnership initiative here.

Second round of funding awards broaden access and support digital literacy efforts

Providence, RI – RIHousing today announced a second round of funding awards as part of the agency’s “Bridging the Digital Divide” (Digital Divide) program, which provides financial resources to support projects to increase internet access for low- and moderate-income households across the state. The program provides financial resources to eligible organizations and municipalities in support of initiatives to expand and support internet access and digital literacy.

“We are thrilled to be able to offer a second round of funding awards to further reduce disparities in internet access, which can have adverse economic and social consequences on Rhode Islanders,” said Carol Ventura, Executive Director of RIHousing. “While there are a number of existing initiatives to help bridge the digital divide, there are still many residents who cannot afford adequate and long-term internet access. Too many low- and moderate-income households cannot access high-speed internet at home, resulting in barriers to their ability to access critical resources and information.”

In January 2021, RIHousing announced its initial round of Digital Divide Funds and awarded $250,000 in program funds to four applicants in May of last year. The agency issued a Request for Proposals (RFP) for a second round of Digital Divide funding in December 2021. Available funding for the second round totaled $450,000. RIHousing received 10 proposals in response to the RFP from 10 applicants representing housing developers, property owners and managers, and public housing authorities. Funding requested totaled $494,594.21.

With this second round of funding, the agency sought proposals that will provide low-and-moderate income Rhode Island residents with long-term, high-speed access to the internet to empower Rhode Islanders all across the state to take advantage of new opportunities and compete in the knowledge economy.

“We were excited with the variety and creativity of funding applicants in helping to bridge the digital divide for Rhode Islanders,” said James Comer, Deputy Director, RIHousing. “Our Digital Divide Fund represents RIHousing’s commitment to helping Rhode Islanders and complements existing initiatives from cable providers, the state, and non-profit community to provide tablets and hot spots and improve internet use and digital literacy.”

Many existing resources are earmarked to help build the infrastructure for high-speed internet, and typically cannot be used to pay for internet access. RIHousing’s Digital Divide program provides funding for organizations to provide or expand free or low-cost internet access to Rhode Islanders.

Award recipients of the second round of Digital Divide funding proposed a variety of initiatives, including free WiFi for affordable housing residents, updated hardware and devices and digital literacy training.

Funding recipients include:

• AS220: an arts non-profit located in downtown Providence; $39,480 to update their internet technology and provide one year of free internet for residents, who are artists and creative workers. Thirty-nine of their 49 units are designated as affordable.
• The Canning Group: a property management company; $29,959.21 to provide devices and internet to community rooms at four developments: Fox Point Manor in Providence; Canonchet Cliffs I & II and Canonchet Hills in Hopkinton.
• Central Falls Housing Authority: public housing authority of the city of Central Falls; $75,000 to assist public housing residents and housing choice voucher recipients, along with community members, in signing up for discounted internet plans.
• Church Community Housing Corporation: a community development corporation serving Newport County; $18,469 to provide 44 hotspots and 3 years of unlimited internet service at 44 properties, including 33 scattered site and 11 multifamily developments.
• Crossroads Rhode Island: statewide housing and homeless service provider; $61,940 for hardware, labor and installation of technology for in-unit internet at the Summer Street I & II developments.
• Fifty Square L.P.: Sponsored by Church Community Housing Corporation; $20,000 for the installation of access points for free wireless internet at 50 Washington Square, a low-income tax credit development in Newport.
• McAuley Ministries: non-profit providing social services and housing; $56,765.79 to provide internet access in each unit and common areas, as well as a computer, monitor and printer in each unit. This grant will support residents living at McAuley Village, a transitional housing program for homeless families led by women experiencing domestic and/or sexual violence.
• POAH, Inc.: a nonprofit housing developer; $75,000 for start-up costs toward providing free internet to all units at Oxford Place & Gardens in Providence.
• Providence Housing Authority: housing authority of the city of Providence; $73,386 to provide internet access to community rooms at seven developments.107 residents of high-rise developments, or participants in the PHA’s Workforce Development and Training Program, will receive devices, internet access and digital literacy training.

Launched in March 2021, RentReliefRI has assisted over 25,000 renter households to date

Based on the number of applicants currently under review, and those expected to apply for assistance between now and June 1, 2022, the agency anticipates that all remaining RentReliefRI funds allocated to financial assistance to renters will soon be depleted.

Providence, RI – RIHousing announced today that the federally-funded RentReliefRI program will close to new applications on June 1, 2022. Launched in March of last year, the program provides financial assistance to cover rent arrears, forward facing rent, utility arrears and certain other housing expenses. Funded via the U.S. Treasury, the federally-funded RentReliefRI program provides up to 18 months of financial assistance to eligible Rhode Island renters impacted by the COVID-19 pandemic.

“Today’s announcement highlights the fact that the rental assistance program has done what it set out to do: provide a lifeline to thousands of struggling renters across our state during the height of the COVID-19 pandemic,” said Carol Ventura, Executive Director of RIHousing. “The program was designed to respond to the economic impact on renters of the COVID-19 pandemic and help bridge the gap for those financially impacted.”

Based on the number of applicants currently under review, and those expected to apply for assistance between now and June 1, 2022, the agency anticipates that all remaining RentReliefRI funds allocated to financial assistance to renters will soon be depleted and therefore, is closing the program to new applicants on June 1, 2022. Completed applications submitted prior to June 1, 2022, will continue to be processed and those that meet eligilibity guidelines will be eligible to receive assistance after the closing date, which will be limited to past due rent and utilities, current month’s rent and three (3) months forward-facing rent, after which time there will be no further financial assistance under the RentReliefRI program.

The RentReliefRI program was funded via $200 million from the Emergency Rental Assistance (ERA) program in the Consolidated Appropriations Act, 2021 (P.L. 116-260) and an additional $152 million in ERA funding in the American Rescue Plan Act (P.L. 117-2). To date, over 27,000 Rhode Island renter households have been approved for rental and/or utility assistance from the program.

“RIHousing is grateful for the support and leadership we’ve received from Governor McKee and his team to be able to successfully launch and administer this important program for our state and its residents,” noted Ventura. “Through the hard work and commitment of program staff, our partners, elected officials and community members, we have been able to approve on average $2.8 million in rental and utility assistance funding per week and ensure these critical federal dollars are used to maintain housing stability for Rhode Island renters. RentReliefRI funds have helped families get back on track and stay in their homes.”

“While the program will soon be winding down to new applicants, we want to encourage any renters and landlords who have yet to apply, to take action today and apply for assistance prior to the deadline,” noted Ventura. “RentReliefRI staff and our community partners are available to offer support and resources to help renters apply for this assistance.”

Eligible renter households must be at or below 80% of Area Median Income (AMI), which translates into roughly $77,350 annual income for a family of four in most parts of the State. Applicants may apply for help with paying for utilities even if they do not need help paying for rent and there is no monthly cap on eligible rent relief. Assistance does not need to be paid back.

Available statewide, to date, the top ten municipalities based on funding approvals are: Providence, Pawtucket, Woonsocket, Cranston, Central Falls, North Providence, West Warwick, Warwick, East Providence, and Johnston. Program data illustrates that of the approved applications, 67% of applicants represent minority populations and 72% are households earning less than 30% area median income (AMI), which translates into roughly $26,500 annual income for a family of four in most parts of the State. Details and information on the status of program applications and funding approvals is available online at www.rihousing.com/rent-relief-ri-dashboard/.

Applicants are encouraged to review updates on the RentReliefRI program webpage at: www.RentReliefRI.com for complete details and information.

_Redevelopment of former Barbara Jordan II development to provide new affordable homes

and transform neighborhood_

Providence, RI – U.S. Senator Jack Reed, Governor Dan McKee, Lt. Governor Sabina Matos and Providence Mayor Jorge Elorza joined Omni Development Corporation, Wingate Companies, RIHousing, funding and community partners today for a ceremonial groundbreaking to celebrate the development of 79 new rental homes for families at Joseph Caffey Apartments and Jordan Caffey Townhomes in Providence.

“We’ve got an older housing stock in Rhode Island, and this project demonstrates that great things can happen when we’re willing to invest in the future of housing, all while maintaining historic affordability and bringing new amenities to the community. This development will not only create more affordable units in the neighborhood, but also bring in energy efficiency, community service providers, central laundry, community meeting space, and on-site management,” said U.S. Senator Jack Reed.

The Joseph Caffey Apartments and Jordan Caffey Townhomes project includes the redevelopment of the former Barbara Jordan II development into a total of 79 units of affordable housing located in Upper South Providence. The former Barbara Jordan II development included 26 blighted and vacant, two- and three-story apartment buildings situated on scattered sites located in Upper South Providence. The development was foreclosed upon by the U.S. Office of Housing and Urban Development (HUD) and the property was transferred to RIHousing in 2018; buildings had been vacant since 2015.

“I am excited to see this type of momentum in expanding our housing stock in Rhode Island,” said Governor McKee. “This development project will transform vacant space into a home for 79 families, helping us meet the housing needs of our residents. As we know, access to housing means more than just having a roof over our heads – it leads to increased opportunities for educational success, career pathways, and overall quality of life. I am grateful to Senator Reed, RI Housing and all of our partners who helped secure this investment to boost our affordable housing supply, transform the Upper South Providence neighborhood, and reinvigorate our economy.”

RIHousing and community partners kicked off an extensive, eight-month community engagement process, beginning in July 2018. Local residents, anchor institutions, neighborhood organizations and other stakeholders participated in a full range of public engagement activities over the eight-month period. Participants worked together to create a vision for the redevelopment of the properties and surrounding area.

“These apartments and townhouses will not only provide our capital city with much needed new affordable housing inventory, but also revitalize a once vibrant neighborhood in the heart of upper South Providence,” said Lt. Governor Sabina Matos. “I applaud the efforts of everyone involved to get us here, especially Councilwoman Mary Kay Harris who has long championed the need to revitalize this area for low-income housing.”

The community engagement process sought to engage in a meaningful dialogue about how the redevelopment of Barbara Jordan II properties could improve the community; develop a vision that will improve the quality of life for future residents, as well as current residents of Upper South Providence; prepare a Developer Request for Proposals (RFP) that incorporates feedback from the Community Engagement Process; and solicit a developer to successfully implement the redevelopment of Barbara Jordan II. Key takeaways from the engagement process were used to craft a Request for Proposals for redevelopment of the site.

“Barbara Jordan II is perhaps the most meaningful redevelopment that we have worked on during my time in office,” said Mayor Jorge O. Elorza. “It had been a blight on our city for too long, and now it will be a model for what is possible when you take a holistic approach to neighborhood revitalization. This project has been a priority of mine and I am thankful that RIHousing and other stakeholders have prioritized it as well.”

Following completion of the community engagement process, RIHousing released an RFP to designate a qualified developer for the redevelopment of Barbara Jordan II. Following rigorous staff evaluation of developer proposals and the review and unanimous approval from an outside advisory committee, final developer selection took place at the June 2020 RIHousing Board of Commissioners meeting. Omni Development and Wingate Holdings (an affiliate of Wingate Companies) were selected as co-developers of the site.

Providence Deputy Majority Leader Mary Kay Harris stated, “I want to thank RIHousing for listening to the needs and desires of my community. For too long, developers would come into our neighborhood and not ask us – the residents – what we needed or what we wanted to see. I believe that our community has had a chance to share our voices, and I look forward to this next chapter. This project is going to be a beautiful representation of what our community needs and will change the quality of so many people’s lives.”

“There’s no place like home. Safe, suitable, warm, affordable and finally yours,” said Representative Anastasia Williams.

Financing for the redevelopment project includes an array of funding sources, including both 4% and 9% Low-Income Housing Tax Credits (LIHTC) issued by RIHousing that were acquired by the National Equity Fund (NEF) to generate the equity necessary to build the development. In addition to the equity, construction and permanent financing were provided by RIHousing, Citizens Bank, and the Providence Redevelopment Authority. This financing will support the construction of 79 affordable rental units in 11 buildings.

“In order to address the housing crisis in the State of Rhode Island, we must be willing to develop properties are not always easy,” said Sharon Morris, Executive Director of Omni Development. “We are proud to have worked with the community and our partners to get to this point, and we look forward to delivering much needed affordable housing. Where a person lives effects their quality of life and it is my hope that this transformative development will have a positive impact on our families and the entire neighborhood.”

“Wingate is proud to have been selected, alongside our long-time client, Omni Development Corporation, to complete this development. It will be a transformational affordable housing community, designed to the most current standards of energy efficiency, injecting new life into the neighborhood where our residents will raise their families,” said Mark Schuster, CEO of Wingate.

Demolition of vacant buildings has begun as the developers work to clear the site for the new construction. Once the sites are cleared, buildings will be replaced with a new four-story mid-rise building containing 54 units and a series of two-story townhouse-style buildings containing 25 units. The development will feature a combination of one-four bedroom rental units ranging from 587 square feet to 1,433 square feet. Future residents will enjoy a community center featuring a computer lab intended to provide technology resources and training for its residents.

“Today is a celebration of hope, of brighter futures and dreams for the residents that will call Caffey Apartments and Townhomes home,” said Juana B. Matias, HUD New England Regional Administrator. “HUD is proud to join our Rhode Island partners in helping to deliver healthy, affordable housing for Providence families.”

Construction will soon commence on new buildings in Upper South Providence, which will provide safe and comfortable housing opportunities for families and have a transformational impact on their lives and on the broader community.

“This momentous groundbreaking epitomizes how government and developers like Omni and Wingate can successfully work with communities to start addressing past housing practices and disinvestment that have resulted in long-lasting inequities for communities that call the south side home,” said Deputy Secretary for Housing Josh Saal. “We need not accept history as a set of immoveable barriers or the challenges before us as insurmountable. I look forward to continuing our work with RIHousing, our development partners, and communities across the state to create a future where all Rhode Islanders have access to secure, safe, and accessible housing.”

Once completed, Jordan Caffey Townhomes will have 40 rent-restricted apartments, which will serve households earning at or below 60% of area median income (AMI). Joseph Caffey Apartments will be comprised of 39 rent-restricted apartments serving households earning 50%-80% AMI. In addition, Providence Housing Authority will provide a rental subsidy for 16 units, serving households earning below 30% AMI.

“As we break ground on these new homes, we are beginning a new chapter for South Providence and the residents that live here,” said Carol Ventura, Executive Director of RIHousing. “We are building on a process begun several years ago to transform this neighborhood and bring the vision created throughout the community engagement process to life. The demand for affordable housing in Providence is extremely high and these units will be indispensable for the community and a fitting legacy to the leaders they are named after.”

The development is named for Joseph Caffey, who served as the President and CEO of Omni Development Corporation for 24 years. He was the former director of Housing Rehabilitation for the City of Providence and was the President of the National Leased Housing Association based in Washington, D.C. In naming this project, the development team also wanted to preserve a link to Barbara Jordan for whom this project was originally named. Congresswoman Barbara Jordan was one of the first U.S. Congresswomen, a leader in the civil rights movement and a passionate advocate for all Americans.

The redevelopment effort represents a significant investment in the community and its residents. More information on the development and the community engagement process can be found here: https://www.rihousing.com/barbarajordan2/.

Investments will address housing shortage and boost the economy

Providence, RI – RIHousing’s Board of Commissioners approved investments at its April Board meeting that will create 431 affordable homes, significantly improve the neighborhoods where they are located, and support over 1,240 jobs. Funding awards were approved for five developments located in East Greenwich, Lincoln, Middletown and Providence.

“Addressing the housing crisis in Rhode Island is one of the top priorities of the McKee-Matos Administration and these awards represent a significant investment in addressing the housing needs of Rhode Islanders,” said Governor Dan McKee.  “These investments will create a range of affordable housing opportunities and well-paying jobs while reinvigorating the communities in which they are built. Ensuring that all Rhode Islanders have access to a safe and affordable home is critical to the success of Rhode Island families, our communities and our state. That’s why I’ve called for a once-in-a-generation investment in housing in Rhode Island using the American Rescue Plan Act’s State Fiscal Recovery fund. My Administration’s proposed $250 million-dollar investment works to address the availability and quality of housing – 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. I look forward to our team’s ongoing partnership with the Speaker, Senate President and the General Assembly as we continue to address the housing crisis in Rhode Island.”

The developments represent a diverse range of property types, all new construction, located in urban, suburban and rural communities across the state. When constructed, these developments will provide affordable apartments to individuals and families who are currently being priced out of the rental market.  Many of the developments will incorporate energy efficient aspects in their designs, helping to reduce the carbon footprint of these developments while reducing utility costs for residents.

“Housing is a critical issue for residents in every city and town in Rhode Island,” said RI House Speaker K. Joseph Shekarchi. “These investments will expand our state’s housing stock and offer residents at various income levels the kinds of safe, healthy and affordable homes that Rhode Islanders need and deserve.”

Of the 431 rental homes, 369 are affordable (for households earning less than 80% of Area Median Income (AMI)), 34 are middle income (for households earning between 100-120% AMI), and 28 will be market rate.

“Affordable housing is a major issue for Rhode Island, which has only been exacerbated by the pandemic,” said RI Senate President Dominick J. Ruggerio. “These developments will help alleviate the affordability crisis and will go a long way in helping our state address the need for affordable homes.”

All five developments received preliminary approval of more than $4.6 million in Low-Income Housing Tax Credits (LIHTC), the principal federal program for the construction and rehabilitation of affordable apartments. RIHousing allocates tax credits to developers of affordable apartments. Tax credits are a dollar-for-dollar credit against federal tax liability, which attracts further private investment to support housing initiatives.   Three of the projects also received allocations of tax exempt financing which will generate additional 4% LIHTC.

“I am excited and optimistic about RIHousing’s commitment to allocate federal resources towards the construction of over 400 new affordable units in 5 new developments,” said Deputy Secretary of Housing Josh Saal. “Once completed, the developments will bring online deeply affordable housing, including housing for families and individuals with incomes below $30,000 who are at most risk of becoming homeless due to the current shortage of housing. Reaching this critical milestone is a testament to what can be achieved when local housing authorities, municipalities, the U.S. Department of Housing & Urban Development, non-profits, developers and architects, work together towards a common goal – ensuring Rhode Islanders of all incomes have a safe and healthy place to call home.”

Three of the developments – Villages at Manville (Lincoln), Parcel 9 I & II (Providence) and Frenchtown Road I & II (East Greenwich) – are mixed-income projects, offering housing options at a range of price points.  The Villages at Manville will include the construction of three, three-story, garden-style walk-up residential buildings and a single-story clubhouse/community building. Of the 72 units, 57 will be affordable rental units, with 16 one-bedroom units and 41 two-bedroom units. The 15 market-rate units will consist of two one-bedroom units and 13 two-bedroom units. Eight of the affordable units will serve individuals and families whose incomes are at or below 30% Area Median Income (AMI).

Parcel 9 I & II in Providence is a mixed-use, mixed-income development to be constructed on currently vacant property at the edge of the Fox Point neighborhood in Providence. The 66-unit building will provide one- and two-bedroom apartments with sixteen units at 30% AMI, twenty-one at 60% AMI, and 15 middle income units up to 120% AMI and 14 market rate units. The project developer is partnering with Children’s Friend and will construct a Head Start daycare facility at the site.

Frenchtown Road I & II in East Greenwich will create 63 units of housing serving a range of incomes, including 16 units at 30% AMI, 28 units at 60% AMI, and 19 units at 100% AMI. The 30% AMI units will be subsidized with U.S. Department of Housing and Urban Development (HUD) Section 811 vouchers, providing supportive housing for persons with disabilities and project-based Section 8 vouchers. The building is designed to meet National Grid’s RNC Tier II and the latest Energy Star Multifamily New Construction standards. All the electricity for the property’s site and common area load will be powered by a combination of rooftop solar and renewable energy provided through community net metering.

Other developments include Summer Street I & II in Providence, which will include 176 rental units in a newly constructed building on Summer Street in the city’s West End. These units will replace the 176 single room occupancy (SRO) units at 160 Broad Street, which will then be converted by Crossroads RI to one-bedroom and studio apartments. The units at Summer Street I & II will serve extremely low-income individuals who are homeless or at risk of homelessness.

Lastly, West House II in Middletown will be a three-story addition to West House I, a 50-unit HUD Section 202 housing development built in 1996.  Residents of West House II will benefit from access to and use of the existing West House I parking and common area, which includes a chapel, nurses’ office, library, game and fitness room, double dining room and coffee shop and computer lab.  The development will be restricted to residents that are 55 and older.

“For almost 50 years, RIHousing has been working to provide a broad range of housing options for Rhode Islanders,” said Carol Ventura, Executive Director of RIHousing. “The need and demand for affordable homes has risen sharply as a result of the pandemic, and these investments are a smart and strategic way to meet the housing demands of our state, put people to work, and help reinvigorate our economy.”

Ribbon cutting celebrates renovation of 104 rental apartments for seniors

Narragansett, RI – U.S. Senator Jack Reed and R.I. Deputy Secretary of Commerce for Housing Josh Saal joined Preservation of Affordable Housing (POAH), RIHousing, community partners and residents to celebrate the completion of renovation work at Beachwinds Apartments in Narragansett on Monday, April 18.

Beachwinds Apartments, just blocks from Narragansett Sound, is a 104-unit affordable housing community consisting of two senior developments – Beachwood Apartments and South Winds Apartments. The properties were originally built in 1977 and comprise 4 buildings rented to low and moderate-income seniors containing 94 one-bedroom and 10 two-bedroom apartments.

“The renovations at Beachwinds bring a long list of improvements to this property. Not only have six of the units been converted for full ADA compliance, these buildings are also more environmentally-friendly, with improved energy efficiency and sustainability features,” said Senator Reed. “RIHousing has played a key role in distributing financing for these types of projects and by providing statewide leadership to ensure projects like this get done. I am particularly proud of the $9 million in federal Low-Income Housing Tax Credits that made this project possible. This tax credit serves as an incentive for private developers and
investors to provide more low-income housing by giving investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing.”

POAH acquired the properties in 2004 and completed a modest renovation at a cost of approximately $15,000 per unit. In late 2020, POAH applied for and received approval for and tax-exempt bonds from RIHousing which generated 4% low income housing tax credits (LIHTC) in order to re-syndicate the property and finance a major renovation. Fannie Mae via Boston Financial Investment Management purchased the tax credits.

“Like much of Rhode Island’s rental housing stock, the Beachwoods and South Winds affordable apartments for seniors were built more than 40 years ago. POAH’s substantial renovation will ensure a healthier and more sustainable future for current and subsequent residents of this senior community,” said Deputy Secretary of Housing for RI Josh Saal. “I’d like to thank Aaron Gornstein and the team at POAH as well as Carol Ventura and her staff at RIHousing for their partnership in preserving the long-term affordability while improving the accessibility and energy efficiency of these units.”

POAH’s $9 million ($87,000 per unit) renovation program included: new exterior siding, improved insulation, replacement and roof repair, new windows, new ventilation systems, kitchen and bathroom upgrades, two renovated and expanded community rooms and outdoor space, conversion of 6 apartments to fully compliant ADA units, common area and office upgrades, site work to improve erosion control, parking lot re-paving and striping and walkway repairs.

The renovation program focused heavily on improving energy efficiency, sustainability, and improved ventilation, along with improved kitchen and bathroom finishes and flooring. Construction commenced in March 2021 and was substantially completed in December 2021.

“The demand for affordable housing options for seniors is high,” said Carol Ventura, Executive Director of RIHousing. “In Rhode Island, as in much of the country, housing costs are rising, adding to the challenges seniors face when finding housing they can afford and in communities they wish to live. The renovations at Beachwinds Apartments ensure these rental homes remain affordable, safe and healthy for seniors for years to come.”

“We are grateful to RIHousing and Boston Financial Investment Management for partnering with us to substantially upgrade these affordable housing properties and to improve the quality of life for our residents who call them home,” said Aaron Gornstein, POAH President and CEO.

Rhode Island’s senior population has increased by 12.2% between 2016 and 2020 and is projected to increase by an additional 10% over the next 20 years. More than half (53%) of renters age 55+ in Rhode Island have incomes less than $25,000 per year, 39% of this population are considered cost burdened and 20% are considered severely cost burdened. Meanwhile, rent for the average two-bedroom apartment in Narragansett has increased almost 40% since 2015.

“This will help to ensure the long-term affordability of these properties in the face of growing housing needs in Rhode Island. We also appreciate the strong support from the Rhode Island Congressional delegation for boosting funding for affordable housing programs, including the federal Low-Income Housing Tax Credit Program, which made this possible,” Gornstein said.

Following record-breaking year, lender partners honored

Providence, RI – After a strong year in mortgage lending, RIHousing announced its top-producing lender partners of 2021. Working with more than 30 lender partners throughout Rhode Island, the agency helped over 1,700 first-time homebuyers purchase homes last year.

“While the single-family market experienced increases in pricing and low inventory, we’re proud that in 2021 we were able to exceed our 2020 mortgage numbers and help more families put down roots in Rhode Island,” said Peter Pagonis, Director of Homeownership at RIHousing. “We couldn’t do the work we do helping families in Rhode Island without our Participating Lenders.”

Strong relationships with lender partners helped RIHousing increase loan production and close 2021 with the highest mortgage volume in the agency’s nearly 50-year history. Lender partners accounted for nearly 91% of RIHousing mortgage originations in 2021.

As part of its annual recognition of top lender partners, RIHousing announced Main Street Home Loans as the agency’s Participating Lender of the Year. In 2021, Main Street Home Loans funded more than $86 million in mortgage loans for 266 homes through RIHousing’s homeownership programs.

“We couldn’t help the number of first-time buyers without the innovative lending products offered by RIHousing,” said David Travers, Area Manager, Main Street Home Loans. “We take this achievement to heart because it means we are meeting our mission to help first-time buyers realize their dream of homeownership while supporting our community.”

In addition to celebrating its partnership with Main Street Home Loans, RIHousing is also recognizing the following for their contributions:

• Top Producing Loan Officers:
  • Evelyn Perez, Guaranteed Rate Affinity (Gold Partner)
  • Juan Cerda, Shamrock Home Loans (Silver Partner)
  • Eric Maluk, Semper Home Loans (Bronze Partner)

Evelyn Perez, based in** Cranston**, has been the recipient of RIHousing’s Gold Partner Award for the past three years. She originated over $35 million in first mortgages with RIHousing and helped 117 Rhode Islanders achieve their dream of homeownership in 2021; the second year in a row she has broken records as a top RIHousing loan officer. As a person of Dominican descent, Evelyn takes pride in educating the state’s Spanish-speaking community on the steps to homeownership and building generational wealth.

“I am grateful to RIHousing for this recognition and also to the families I work with every day,” said Perez, Loan Officer, Guaranteed Rate Affinity. “Our partnership allows me to meet my professional goals while also helping first-time homebuyers along their journey toward homeownership, which is the most rewarding part of my job.”

Juan Cerda, based in Rumford, has offered RIHousing programs for over 20 years and attributes his bilingual team and focus on Spanish-speaking homebuyers as critical to his success. Cerda and his team originated more than $17 million in first mortgages with RIHousing last year, helping 59 households achieve homeownership.

“I love this award. We were able to help a lot of people last year because of RIHousing,” shared Cerda, Loan Officer, Shamrock Home Loans. “Almost 80% of my business utilizes the down payment and closing cost assistance offered by RIHousing. Our bilingual team paired with the down payment assistance have been the keys to our success.”

Loan Officer Eric Maluk, based in Warwick, originated more than $16 million in loans in 2021 and helped 57 families make Rhode Island their home. Maluk has been offering RIHousing programs for nearly 10 years.

“Honestly, my goal was to get on RIHousing’s top Loan Officer list for 2021,” said Maluk. “It’s rewarding to be able to help first-time homebuyers and also to be able to reach my own personal goal and get this recognition from a long-time partner agency.”

“With hundreds of loan officers using RIHousing Programs, the work of our top producing loan officers truly stands out,” said Carol Ventura, Executive Director of RIHousing. “The pandemic has added some challenges to the homebuying process, and we are grateful that these lender partners have helped our buyers overcome those hurdles. We look forward to what the 2022 homebuying market has to offer.”

RIHousing offers an extensive line of loan options for first-time homebuyers, current homeowners and Rhode Islanders looking to improve their homes. Since 1973, RIHousing has helped approximately 82,000 families purchase a home. RIHousing loans are available through the RIHousing Loan Center and a network of participating lenders across the state.

Local bank provides banking services to remove barrier for renters receiving direct payments

Providence, RI – RIHousing announced today a new partnership with Centreville Bank to assist RentReliefRI applicants who do not have access to a traditional bank account. RentReliefRI is a program that provides rental and utility assistance to help eligible renters maintain housing stability. The partnership provides banking access to applicants who receive direct rental payments but lack an account or an existing relationship with a financial institution. With the announcement of this new partnership, Centreville Bank will establish an account for direct payment recipients to deposit their RentReliefRI check and have the funds paid to their landlord(s) via cashier’s check.

“I commend Centreville Bank for stepping up to offer their services and expertise to help Rhode Island renters,” said Governor Dan McKee. “This innovative partnership between a quasi-public entity and a traditional banking institution is the kind of creative thinking and doing we need to remove barriers for Rhode Islanders requesting help.”

Typically, once a RentReliefRI application is approved for rental assistance, funds are distributed to participating landlords via direct deposit or check. In situations where the landlord refuses to participate, the rental payment goes directly to the tenant, who then pays the landlord to have any pending eviction dismissed or avoid an eviction filing altogether. For tenants who receive RentReliefRI checks but lack an existing banking relationship, it can be difficult, time-consuming, and expensive to convert a multi-thousand-dollar check into payment to their landlord, creating a significant barrier to their ability to remit payment and remain in their homes.

“I want to thank Centreville Bank for working closely with us to establish this relationship and provide a pathway for renters,” said Carol Ventura, Executive Director of RIHousing.  “The vast majority of RentReliefRI payments go directly to landlords, but in situations where landlords do not agree to participate, this partnership removes a significant barrier and allows renters to make their rental payments and remain stably housed.”

Transactions will be processed on the renter’s behalf through a dedicated account that allows tenants to manage the funds they receive for payment without incurring any deposit or withdrawal transaction fees.  The account allows a cashier check distribution of the funds with no fees associated with the issuance of the bank check. Centreville Bank will work closely with RIHousing to efficiently facilitate transactions and protect customer information, while offering a level of assurance and confidence regarding the validity of the checks for landlords.

“This partnership is truly representative of who we are as a community bank,” said Hal Horvat, President and CEO of Centreville Bank. “An opportunity to provide a financial service that addresses a need in our community, particularly around the area of economic security, is a natural fit that combines our expertise in banking and the efforts of the Centreville Bank Charitable Foundation. We are excited to partner with RIHousing to eliminate barriers that prevent Rhode Islanders from remaining in their homes.”

Centreville Bank has designated its Cranston branch location at 193 Comstock Parkway to handle all RentReliefRI-related account openings and transactions. The Cranston staff is an experienced, bi-lingual team of employees trained to support RentReliefRI clients with their needs. Renters can go directly to the branch with their RentReliefRI check to start the process at any time during regular business hours.

Launched in March of last year, the RentReliefRI program provides financial assistance to cover rent arrears, forward facing rent, utility arrears and certain other housing expenses. Information on the RentReliefRI program can be found at www.RentReliefRI.com.

**About RentReliefRI
**RentReliefRI is being supported, in whole or in part, by federal award number ERA0013 awarded to the State of Rhode Island by the U.S. Department of Treasury.

**About Centreville Bank
**Founded in 1828 and headquartered in West Warwick, Rhode Island, Centreville Bank is a full-service mutual bank operating through nine branch locations in Coventry, Cranston (two locations), East Greenwich, Narragansett, North Kingstown, West Greenwich, Warwick, West Warwick, and a loan production office in Providence. In addition, Centreville Bank serves the Eastern Connecticut market with eight offices located in Danielson, Gales Ferry (Ledyard), Griswold, Norwich, Plainfield, Pomfret, and Putnam (two locations). Centreville currently has total assets of $1.9 billion. For more information, please visit www.centrevillebank.com.

Investment will create replicable models for sustainable and affordable housing

Providence, RI – Rhode Island Governor Dan McKee, the Office of Energy Resources (OER) and RIHousing announced today the award of funds to develop highly energy efficient housing for low- and moderate-income Rhode Islanders. The demonstration program, Zero Energy for the Ocean State (ZEOS), is the result of a public-sector partnership between OER, RIHousing, and National Grid to explore innovative, replicable solutions to utilize cost saving, clean energy technologies in homes.

“Addressing climate change and creating more affordable housing are two key priorities for my Administration,” said Governor Dan McKee. “This effort is a perfect example of sustainable and innovative growth in those areas that in turn will provide affordable housing for Rhode Islanders and help us reach our bold but necessary climate change target. I want to thank the Office of Energy Resources, RIHousing, and all of the partners who collaborated on this program to benefit Rhode Islanders now and in the future.”

“As Rhode Island works to meet its net-zero emissions target by 2050, the state must accelerate its investment in cost-effective, clean energy solutions that reduce energy consumption and costs, shrink our carbon footprint, and grow good-paying jobs. The ZEOS project builds upon the momentum of recent successes in growing our green energy economy, while supporting the expansion of more affordable housing options for Rhode Islanders,” said State Energy Commissioner Nicholas S. Ucci.

“RIHousing is committed to developing affordable, well designed and sustainable homes and communities for Rhode Islanders,” said Carol Ventura, Executive Director at RIHousing. “This multi-agency investment will create replicable models for sustainable development while also helping to reduce the collective carbon footprint of the state and reducing energy costs for residents.”

OER and RIHousing have committed a total of $750,000 in funding to three developers who will produce a range of building types in rural, suburban and urban parts of the state.

All three recipients of ZEOS Demonstration funds will develop stock plans to ensure replicability of their zero energy designs. The projects are:

• Brookside Terrace II (Dakota Partners): construction of a 48-unit, garden-style rental housing development in East Greenwich. The development includes one-bedroom and two-bedroom units for households earning less than 60% AMI (Area Median Income). Dakota Partners will also be achieving PHIUS (Passive House) certification and is committed to providing much-needed affordable housing in the East Greenwich area.
• Lockwood Plaza (WinnCompanies): retrofit of sixteen (16) low rise, townhouse-style units in Providence. Lockwood Plaza will serve as a demonstration project for the state as the developer will rehabilitate existing brick buildings by adding exterior insulation, solar PV, and electrifying the building to reduce greenhouse gas emissions.
• Bourne Mills III (The Armory Revival Company (TARC)): construction of a 59-unit apartment building adjacent to Historic Bourne Mill in Tiverton. Forty-seven (47) units will be restricted to tenants that earn 60% or less AMI with the remaining 12 units restricted to tenants earning 120% or less AMI. TARC has also committed to meeting PHIUS certification and the RI Stretch Code.

To qualify for this program, developers must commit to designing and constructing affordable, Zero Energy Buildings (ZEBs). ZEBs are defined as any energy-efficient building with zero net energy consumption, meaning the total amount of energy used by a building on an annual basis is roughly equal to the amount of renewable energy created on the site.

In addition to meeting ZEB standards, developers must also participate in National Grid’s Residential New Construction Program (www.ngrid.com/save) and will work closely with program partners throughout the design, construction, and data collection phases.

“We look forward to supporting the 2021 ZEOS initiative to further accelerate the adoption of net zero energy homes for the affordable housing market in Rhode Island,” said Chris Porter, Director, Customer Energy Management, National Grid. “The principles of this grant – to create replicable designs incorporating strategies to reduce energy cost burdens, improve thermal comfort, and support the clean energy future – are critical to ensuring a reliable, equitable and scalable pathway to decarbonization for all Rhode Islanders.”

Funding awards were announced at the December meeting of the RIHousing Board of Commissioners. A Request for Proposals (RFP) was released in May 2021 with initial funding of $750,000 available. A portion of that amount, $250,0000, was made available thanks to the state’s participation in the Regional Greenhouse Gas Initiative (RGGI).

Grant program seeks innovative programs and partners

Providence, RI – RIHousing today announced the availability of a second round of “Bridging the Digital Divide” funds to support innovative and long-term sustainable projects to increase internet access for low- and moderate-income households across the state. The program provides financial resources to eligible organizations and municipalities in support of initiatives to expand and support free or low-cost internet access.

“We are thrilled to be able to offer a second round of funding awards to help bridge the digital divide for Rhode Islanders,” said Carol Ventura, Executive Director of RIHousing. “The COVID-19 pandemic greatly accelerated the shift to online services and virtual connections and digital access has become a necessity for employment, education, and day-to-day tasks. Too many low- and moderate-income households cannot access high-speed internet at home, resulting in barriers to their ability to access critical resources and information.”

In January 2021, RIHousing announced its initial round of Digital Divide Funds and awarded $250,000 in program funds to four applicants in May of this year. With this second round of funding, the agency is looking for creative proposals that will provide low-and-moderate income Rhode Island residents with long-term, high-speed access to the internet.

While there are a number of existing initiatives to help bridge the digital divide, there are still many residents who cannot afford adequate and long-term internet access. Many of the available resources are earmarked to help build the infrastructure for high-speed internet, and typically cannot be used to pay for internet access.

“Our Digital Divide Fund represents RIHousing’s commitment to helping Rhode Islanders and complements existing initiatives from cable providers, the state, and non-profit community to create and expand affordable access to the internet,” said James Comer, Deputy Director, RIHousing. “With this second round of funding, we hope to further reduce disparities in internet access, which can have adverse economic and social consequences on those left behind.”

Award recipients of the initial round of funding proposed a variety of initiatives, including expansion of WiFi for public housing residents, free mobile hotspots, programs targeted to youth and seniors, updated hardware and devices and digital literacy efforts. RIHousing is looking for innovative and creative programs that will empower Rhode Islanders all across the state to take advantage of new opportunities and compete in the knowledge economy and encourages partnerships, pilot projects, ‘out-of-the-box thinking’ and replication of successful projects from across the country.

A total of $450,000 is available in funding, with a maximum award amount of $75,000 per grant. The grant term is for one year and non-profit and for-profit organizations, public housing authorities, municipalities, faith-based organizations and community housing development organizations are eligible to apply. Applications will be evaluated on the proposed population served, need in the community, program sustainability, partnerships, organizational capacity, and program innovation, as well as several other key metrics.

Complete information on the program and how agencies and municipalities can apply, can be found online at: www.rihousing.com/rfps-rfqs. The deadline for submissions is January 26, 2022 at 3:00 pm EST.

Pilot program provides critical funding to expand range of housing options in the state

Providence, RI – RIHousing, the state’s principal housing agency, has been selected as recipient of a national award for program innovation by the National Council of State Housing Agencies (NCSHA). The award for ‘Rental Housing: Encouraging New Construction’ honors RIHousing’s Workforce Housing Innovation Challenge (WHIC) Program, which seeks to expand the range of housing options for Rhode Islanders.

“To win such a prestigious national award is an incredible honor, especially as it comes from our peers who understand the challenges faced when working to create housing at a range of price points,” said Carol Ventura, Executive Director of RIHousing. “The WHIC financing addresses the affordable housing needs of a segment of the state’s population, who are increasingly caught in the gap between rising market rents and ineligibility for other affordably assisted housing. Creating more affordable housing options for working Rhode Island families is essential to economic growth and development throughout Rhode Island.”

RIHousing’s WHIC program seeks to expand the range of housing options available in Rhode Island through the creation of rental homes for households earning up to 120% area median income (AMI), or $103,800 for a family of four in Providence. The term ‘workforce housing’ is most often used to indicate a program targeted at households that earn too much to qualify for traditional affordable housing subsidies typically limited to households at 60% or 80% of AMI.

In many cities across the country, it is increasingly difficult for middle-income workers (teachers, healthcare professionals, municipal employees, etc.) to buy or rent housing in the areas in which they work. This is due to both a lack of available housing options and wages not keeping up with the increased costs of living. Currently, the state’s housing stock and building activity aren’t adequately addressing the 80% – 120% AMI housing market.

“There is a growing awareness of the challenges facing middle-income workers. Today’s high demand paired with low supply has driven housing prices up and out of reach for many middle-income workers, and many local governments are exploring and implementing strategies to stimulate the creation of workforce housing,” said Carol Ventura, Executive Director of RIHousing. “The WHIC program is one important tool that helps respond to the need for middle-income housing by filling a growing and significant gap in a tight housing market of rising rents that is being exacerbated by the COVID-19 pandemic.”

To date, RIHousing has rolled out two funding cycles, receiving a total of 19 proposals requesting $25 million in financing. More than $9 million in WHIC funds have been awarded to six developments, helping to create 394 total units, 112 of which are considered ‘workforce’ homes.

The competitors for the national awards, which are given out annually at NCSHA’s national conference, were each of the 50 states’ Housing Finance Agencies plus four territories and districts. The NCSHA Annual Awards for Program Excellence was created to identify and elevate industry best practices as well as encourage continued Housing Finance Agency (HFA) innovation. In 2021, 33 HFAs submitted entries to the awards program. Awards were presented at NCSHA’s 50th Annual Conference, held virtually in September.

Almost 4,600 Rhode Island Renter Households Approved To Date

Providence, RI – RIHousing announced today that the RentReliefRI program has approved over $50 million in rental and utility assistance funds to almost 4,600 renter households. The federally-funded program serves as a lifeline for struggling Rhode Island renters and provides up to 18 months of rental and utility assistance for tenants impacted by the COVID-19 pandemic. The funding also includes over $16 million in new commitments to low- and moderate-income customer electricity and gas utility bills.

“I worked hard to make these federal rent relief funds available to help Rhode Islanders facing financial hardship due to the COVID-19 pandemic. I commend RIHousing for accelerating efforts to get these funds out the door to prevent evictions and keep people stably housed,” said U.S. Senator Jack Reed, who helped include $200 million for Rhode Islanders through the Emergency Rental Assistance (ERA) program in the Consolidated Appropriations Act, 2021 (P.L. 116-260) as well as $152 million in additional ERA funding for Rhode Islanders in the American Rescue Plan Act (P.L. 117-2).

“I am pleased that we are celebrating this important milestone and that thousands of Rhode Island households can go to bed tonight with one less worry,” said Governor Dan McKee. “It is critical we keep our foot on the gas and continue recent efforts to distribute these funds to those most in need. Rhode Island renter households are relying on this lifeline to keep them housed this winter and landlords rely on these funds to help them meet their financial responsibilities. Utilizing these federal resources as effectively and strategically as possible will help Rhode Island and Rhode Islanders come out of this pandemic stronger.”

Funded via the U.S. Treasury, RentReliefRI has undergone significant changes in recent weeks to create a more streamlined application and review process. On August 26, Treasury released guidance providing additional flexibility for these federal funds and in response, RentReliefRI staff developed streamlined application and review processes. The combination of changes to the application and review process and expanded partner outreach and application assistance have resulted in dramatic increases in the number and amount of approvals.

“The COVID-19 crisis continues to impact Rhode Islanders across the state,” said RI House Speaker Joseph Shekarchi. “Rhode Island renters have felt the brunt of job losses, financial hardship and housing instability due to the pandemic. RentReliefRI funds offer an opportunity for us to help families get back on track and stay in their homes. These recent changes will allow us to help even more families remain in their homes.”

Launched in March of this year, the program provides financial assistance to cover rent arrears, forward facing rent, utility arrears and certain other housing expenses. Eligible renter households must be at or below 80% of Area Median Income (AMI), which translates into roughly $69,200 annual income for a family of four in most parts of the State. Applicants may apply for help with paying for utilities even if they do not need help paying for rent and there is no monthly cap on eligible rent relief.

“I’m excited that the streamlined process has resulted in improvement in finally getting this available assistance into the hands of Rhode Islanders in need,” said RI Senate President Dominick Ruggerio. “This important milestone demonstrates that increased cooperation can improve results for everyday Rhode Islanders. It’s imperative that we continue working together to ensure these dollars are distributed efficiently to keep families in their homes this winter.

Of the $50 million in approved assistance, over $19.4 million has been approved to cover rental arrearages while over $10 million has been awarded for future rental payments. To date $2.7 million has been awarded and an additional $16 million has been committed to cover electricity and gas utility arrearages, because of a collaboration between RentReliefRI and National Grid. The assistance will reduce or clear the utility arrearages of many low- and moderate-income customers, helping these households get back on track from the effects of the pandemic.

“We are proud to be working alongside RIHousing to get these critical funds into the hands of Rhode Island customers,” said Brian Schuster, Director of Customer and Community Management at National Grid. “This innovative joint venture can help to keep the lights and heat on for thousands of Rhode Island renter households.”

Recent changes to the program application requirements and review process have helped to streamline the approval process and get more funds out the door. Weekly funding approvals averaged $500,000 in June 2021, increasing to $2 million by August and are now averaging $1 million/day in approvals. The average assistance approved per household is $7,678.

“Updated guidance from the U.S. Treasury offers us the opportunity to be flexible in assisting more Rhode Island renters, and assisting them more quickly,” said Carol Ventura, Executive Director of RIHousing, the agency charged with administering the program. “RIHousing is committed to continuing our efforts alongside state and community partners to respond to the housing challenges facing Rhode Island families.”

Available statewide, to date, the top ten municipalities based on funding approvals are: Providence, Pawtucket, Woonsocket, Cranston, North Providence, Central Falls, West Warwick, Warwick, East Providence, Johnston. Program data illustrates that of the approved applications, 63% of applicants represent minority populations. National Grid customers will still be required to provide an attestation of eligibility to RIHousing to have the assistance funds credited to their account.

Complete details and information on the status of program applications and funding approvals is available online at www.rihousing.com/rent-relief-ri-dashboard/.

New initiative will help save homes and achieve housing stability for Rhode Island families

Providence, RI — RIHousing has been awarded just over $112,000 in funds from NeighborWorks America’s new Housing Stability Counseling Program (HSCP) to help Rhode Island homeowners facing foreclosure and housing instability. The HSCP aims to help eligible nonprofits and agencies provide direct housing counseling services to individuals and families facing housing instability, such as foreclosure and homelessness.

“These funds come at a critical time for Rhode Island families,” said Carol Ventura, Executive Director of RIHousing. “Many Rhode Island homeowners are struggling to make their mortgage payments as a result of the COVID-19 pandemic and forbearance protections for many homeowners will soon be expiring.”

Funded via the American Rescue Plan Act of 2021, NeighborWorks America designed the HSCP for nationwide implementation, making more than $88 million in funding awards to 131 organizations. There was a very high demand for HSCP funds as NeighborWorks received grant requests totaling over $348 million, more than 4 times the amount of funding available. RIHousing is one of only 18 state Housing Finance Agencies (HFAs) to be awarded funding from this new program.

RIHousing will use the funding to provide counseling services to Rhode Island homeowners via the agency’s HelpCenter. Funding will support additional staffing and outreach to underserved and low-income homeowners. More information on the HSCP can be found here.

“The RIHousing HelpCenter has been an important resource for Rhode Island homeowners since its opening in 2007,” noted Ventura. “Since that time, HelpCenter counselors have helped thousands of families remain in their homes and we will be able to expand our reach with these critical funds.”

Rhode Island homeowners will soon have a new mortgage assistance program available to them with the upcoming launch of RIHousing’s Homeowner Assistance Fund Program (HAF-RI). Once launched, eligible homeowners struggling due to the COVID-19 pandemic can apply for financial assistance for a range of housing-related expenses including: mortgage arrearages, monthly mortgage payments, principal reduction and other housing-related expenses such as utilities, flood or mortgage insurance, property taxes, homeowner association fees, and condominium association fees. Homeowners can visit www.HAF-RI.com to sign up for updates on the HAF-RI program, including the program launch date.

Coordination with Courts and Partners Helps Tenants in Eviction Process

Providence, RI — The recent United States Supreme Court decision to allow eviction proceedings to resume has left many Rhode Island renters at risk. Fortunately, renters have a lifeline available to them via RentReliefRI, a federally-funded program that provides up to 18 months of rental and utility assistance for tenants struggling as a result of the COVID-19 pandemic. For renters facing eviction, a network of agencies and partners are working together to provide on-the-ground support and assistance to prevent eviction and help Rhode Islanders maintain their housing stability.

“The COVID-19 pandemic has placed significant health and financial burdens on Rhode Islanders and their families,” said Rhode Island Governor Dan McKee. “Additionally, the recent Supreme Court decision overturning the Biden Administration’s eviction mortarium leaves many Rhode Islanders on the brink of eviction and facing homelessness. With over $200M in Federal assistance for Rhode Island families, no tenant should be evicted for non-payment of rent and no landlord should be struggling due to an inability to collect rent as a result of these resources. RentReliefRI program funds are a meaningful and tangible way we can work together to keep families in their homes and we are committed to continuing our efforts to help Rhode Islanders, especially those most at risk of homelessness.”

A network of organizations and partners are working with RIHousing, the state agency tasked with administering the RentReliefRI program, to help tenants at risk of eviction due to non-payment of rent. Working with program partners, RIHousing has established a presence in the state District Court where eviction actions are heard to help renters with program assistance while in the Court House. Program partners operating in the state’s District Court work one-on-one with landlords and tenants in the eviction process to help them apply for assistance, complete required documentation or check the status of an application for rental assistance.

“It is critical that we do all we can to support Rhode Island families at risk of homelessness,” said RI House Speaker K. Joseph Shekarchi. “18 months into this pandemic and Rhode Islanders are hurting. Fortunately, these federal funds provide a lifeline to renter households, helping them stay in their homes, keep their families in a stable environment and move forward to a better and brighter future.”

The partnership with the courts also allows RentReliefRI program staff to send mailings directly to those households facing eviction for non-payment, promoting the availability of RentReliefRI program funds and highlighting available assistance provided by Rhode Island Legal Services and the Center for Justice, two important partners of the RentReliefRI program. Information on households facing eviction also means that RentReliefRI program staff can identify and prioritize any applicants in the system that may be facing eviction.

“It’s important that we continue with our efforts to help those families impacted by the pandemic remain in their homes and get back on their feet,” said RI Senate President Dominick J. Ruggerio. “The RentReliefRI program has helped thousands of Rhode Island renter households and is poised to help many more. Reaching tenants on the verge of eviction is an important and integral step to helping renters remain in their homes and avoid homelessness.”

RIHousings’s partners, Rhode Island Legal Services and the Center for Justice assist tenants who are in the eviction process into the RentReliefRI program, provide legal representation for tenants applying for assistance and work with both the tenant and the landlord to try to work through the program to address arrearages and avoid eviction. Another program partner, Housing Network of RI, has dedicated its staff to assist tenants currently in the eviction process with application assistance and filing.

On a daily basis, RentReliefRI staff shares with the Court information on the status of all applicants for rental assistance who have a hearing for non-payment scheduled the following day as well as anyone in the eviction process who has had their rental assistance application approved so that their cases can be removed from the court calendar. Additionally, program partners and staff coordinate weekly mailings to households who received eviction notices alerting them to both the legal aid available and the RentReliefRI program.

“The relationships we’ve built with partners and the District Court has already proven effective in stopping eviction proceedings, helping renters remain in their homes and landlords getting the payments they need to meet their financial obligations,” said Carol Ventura, Executive Director of RIHousing. “We are particularly grateful for the assistance that District Court Chief Justice Jeanne LaFazia and her fellow District Court Justices and magistrates have provided to us and our partners. We are focused on getting the money out the door to eligible applicants and helping families remain in their homes.”

As a condition of receiving rental assistance, landlords must agree to drop pending eviction cases and may not evict the assisted tenant for non-payment for as long as they are eligible for assistance under the program.

Investments will expand range of housing options for more Rhode Islanders

Providence, RI – RIHousing has approved awards for the creation of workforce housing under the agency’s Workforce Housing Innovation Challenge (WHIC) program at its June Board meeting. The awards will help build or preserve 301 rental units, of which 74 will be workforce-assisted units, at developments in Providence and West Warwick.

“Creating more housing options at a range of price points that Rhode Island families can afford is essential to economic growth and development throughout the state,” said Governor Dan McKee. “I’m pleased these awards will help build and preserve 300 units of much needed housing in our state.”

RIHousing’s Workforce Housing Innovation Challenge (WHIC) program seeks to expand the range of housing options available in Rhode Island through the creation of rental homes for households earning up to 120% area median income (AMI), or $103,800 for a family of four in Providence. In many cities across the country, it is increasingly difficult for middle-income workers (teachers, healthcare professionals, municipal employees, etc.) to buy or rent housing in the areas in which they work. This is due to both a lack of available housing options and wages not keeping up with the increased costs of living.

“The term ‘workforce housing’ is most often used to indicate a program targeted at households that earn too much to qualify for traditional affordable housing subsidies typically limited to households at 60% or 80% of AMI” said Carol Ventura, Executive Director of RIHousing. “The WHIC financing addresses the affordable housing needs of a segment of the state’s workforce, who are increasingly caught in the gap between rising market rents and ineligibility for other affordably assisted housing.”

Currently, the state’s housing stock and building activity aren’t adequately addressing the 80% – 120% AMI housing market. Like many states, in Rhode Island most new unrestricted housing has been built in the ‘luxury’ segment of the market and housing targeted to people who cannot afford ‘luxury’ rents has typically only been built when subsidies were available. However, subsidies are almost always reserved for units that serve families with incomes below 60% of AMI, about $43,260 for a family of four in Providence. Households who need workforce housing may not always qualify for subsidized housing.

In January of 2021, RIHousing issued a Request for Proposals for WHIC Program funds, the second round of funding for the program. The initial round provided $3.4 million in funds to two developments in Providence to assist the construction of 93 rental units, 38 of which are workforce assisted. The second round provides $5.9 million to four proposals.

Funded developments include:

• Studley Building, Providence: Substantial rehabilitation of an existing building; will retain commercial use on ground floor while creating 65 rental housing units on floors two through six. There will be 14 workforce units comprised of two one-bedroom and 12 studio apartments. The workforce units will be restricted to 100% AMI.
• Arctic Mill, West Warwick: Adaptive reuse of two separate historic textile mill buildings built in 1854 into a mixed-use complex comprised of both commercial space and residential rental apartments. The existing mill complex is situated along the Pawtuxet River in West Warwick, Rhode Island. 105 of the units will be rented at market rates, which are estimated at 98% AMI and 31 workforce units will be restricted to 80% AMI.
• Strive Lofts, Providence: Located in the Olneyville neighborhood of Providence, includes the rehabilitation of an existing mill building with 56 residential units and two commercial suites with a ground floor parking garage. Twenty (20) WHIC units will be rented to tenants between 80% and 100% AMI and the remaining 36 units will be market rate.
• Case Mead, Providence: Restricting nine existing market rate units as workforce housing in a currently occupied mixed-use building located in downtown Providence. The building was rehabbed in 2018 into a mixed-use building with ground floor retail and residential units on the upper floors. Seven (7) studio units and two one-bedroom units will be designated as eligible workforce housing units.

Program provides educational and financial resources to help homeowners succeed

Providence, RI – RIHousing today announced the launch of a new pilot program that provides a pathway to sustainable homeownership for first-time buyers. RIHousing’s HomeSecure Grant program offers educational and financial resources to support new homeowners and is offered in conjunction with a RIHousing mortgage. The program features a robust financial literacy program via a network of partner agencies as well as access to an emergency fund reserve to assist borrowers in the first three years of owning a home.

“RIHousing doesn’t just help people buy a home, we also provide the tools and resources to help buyers keep the home they worked so hard to obtain,” said Carol Ventura, Executive Director of RIHousing. “New homeowners can have unexpected emergencies that make it difficult to make their mortgage payments. This new program helps prepare buyers to become successful homeowners and also acts as a ‘safety net’ if needed.”

The intent of the grant program is to encourage homeownership for first-time homebuyers and ensure that Rhode Islanders have access to credit and a stable and affordable primary residence. The grant provides an emergency fund reserve in the amount of three months of mortgage payments (Principal, Interest, Taxes and Insurance) for a period of three years from the closing on the first mortgage loan. Homeowners can access the reserve funds to make their mortgage payment(s) if they experience an emergency and/or temporary short-term event during the term of the grant.

“The grant program provides emergency funds to ensure homeowners have adequate money available in the event of an unforeseen financial outlay,” said Peter Pagonis, RIHousing’s Director of Homeownership. “Coupled with an extensive homebuyer and financial literacy curriculum, the reserve funds are a critical resource in helping homeowners avoid mortgage delinquency.”

The program is being rolled out in partnership with a network of partners who provide pre-purchase homebuyer education and financial literacy courses. Grant recipients must meet certain eligibility requirements and income limits in order to qualify for a mortgage loan via the RIHousing Loan Center.

Grant recipients must also:

• Complete a Financial Literacy Course offered by a designated RIHousing Community Partner prior to applying for the first mortgage loan;
• Be a first-time homebuyer;
• Have income that does not exceed $97,646 for a 1-2-person household or $112,393 for a 3 or more-person household;
• Complete RIHousing’s Post Purchase Counseling prior to the first payment due date for the first mortgage loan; and
• Enroll in RIHousing’s automatic mortgage debit payment program.

“Financial literacy is key to successful homeownership,” said Ventura. “Partner agencies will help prospective buyers understand the importance of budgeting, examining their spending habits, how to purchase and finance a home, and how to plan for their financial future.”

Interested homebuyers should begin by reaching out to one of the partner agencies offering the homebuyer education/financial literacy courses: Community Action Partnership of Providence County; Financial Opportunity Center in Providence; Pawtucket Central Falls Development; Providence Housing Authority; SWAP, Inc. and West Elmwood Housing Development Corp.

Program details and contact information for each partner agency can be found online at www.RIHousing.com/Home-Secure.

Ribbon cutting celebrates 42 new rental homes

Providence, RI – U.S. Senator Jack Reed, U.S. Congressman David Cicilline, Governor Daniel McKee, and Smithfield Town Manager Randy Rossi joined leaders from Smithfield Housing Authority, Coventry Housing Associates, RIHousing and funding and community partners today to celebrate the completion of new rental homes in Smithfield.

“I’m proud to have been part of the public-private partnership that revitalized this former iron foundry site into beautiful, affordable homes. From planning to development to remediation work to infrastructure upgrades and construction, this project was a true team effort that was many years in the making and will be a tremendous community asset for many years to come. I salute the Town of Smithfield, the Smithfield Housing Authority, Coventry Housing Associates, Gemini Housing Corporation, RIHousing, and many others who made this project a reality. There is a real need for quality, affordable housing and this development offers so much for residents who call it home as well as a blueprint for successful revitalization and building stronger, healthier communities,” said Senator Reed, a senior member of the Appropriations Committee. “I also want to salute the development architect for this project, the late John Robinson, whose vision was realized here and whose legacy of service includes many contributions, including as a member of the United States Air Force.”

“These beautiful new homes are providing more Rhode Islanders with safe and affordable housing and a great place to raise a family. Affordable housing is key for expanding opportunity and economic growth,” said Congressman David Cicilline. “These new units are helping more Rhode Island families achieve that important goal.”

Located in the heart of the historic village of Georgiaville, a mill village along the Woonasquatucket River in Smithfield, Georgiaville Village Green has successfully remediated a brownfield site while introducing much-needed affordable, family housing into the northern part of the state. A joint venture between Gemini Housing Corporation and Coventry Housing Associates Corporation, the development includes 42 new rental homes and has been recognized by Grow Smart RI and the RI Chapter of the American Planning Association.

“Providing safe, affordable housing to families in Rhode Island is a top priority, and it takes a team effort to make it happen,” said Governor Dan McKee. “The Georgiaville Village Green not only gives 42 families a place to call home, but it also plays an important role in the revitalization of historic Georgiaville. I am thankful to our congressional delegation as well as our housing and funding partners for coming together to complete this project.”

The 42 apartments are available to individuals and families earning less than 60% of the area median income (AMI), approximately $51,900 for a family of four. Five of the units are reserved for individuals and families earning less than 30% of the area median income.

“The Town of Smithfield is proud to be a part of the Georgiaville Village Green Project, having been awarded ‘Outstanding Smart Growth Project’ by Grow Smart RI,” said Randy Rossi, Smithfield Town Manager. “With the help of project partners Coventry Housing Associates Corporation and Gemini Housing Corporation, this neighborhood revitalization project has strengthened the community by providing affordable housing in the heart of the historic village of Georgiaville.”

The property was formerly the Narragansett Gray Iron Foundry mill site, which was demolished by the previous owner and was designated a brownfield site by the State. Site remediation was completed as part of the development.

“Affordable housing is our mission, but moving families into a place they can call home, is our passion,” said Clare Fortin, Executive Director of the Smithfield Housing Authority.

Funding for Georgiaville Village Green came from a variety of funding sources, including $7.95 million in Low-Income Housing Tax Credit (LIHTC) equity, $750,000 in Thresholds funding, a $650,000 Community Development Block Grant (CDBG), a $200,000 grant from RIDEM, a construction loan from Citizens Bank, a first mortgage from RIHousing, and $906,000 from the state-funded Acquisition and Revitalization Program (ARP). Georgiaville Village Green was one of the first projects to make use of funds from Rhode Island’s ARP, funded via state bond funding approved by Rhode Island voters in November 2016.

“Projects such as Georgiaville Village Green provide important affordable housing options for Rhode Island residents,” said Keith Kelly, Rhode Island President, Citizens. “As a funding partner, Citizens sees this project as a great way to support the community and put the bank’s capital to good use. We would like to welcome the residents to their new homes.”

“Today we are celebrating more than the completion of 42 new rental homes,” said Carol Ventura, Executive Director of RIHousing. “We are celebrating a community and the families who live here. Georgiaville is the kind of development we need more of in the state. Fortunately, we have the support from our federal, state and local leaders to make these kinds of developments a reality for more Rhode Islanders. Our families and our state will be made stronger with each new development.”

The event also included a flag raising ceremony and dedication in honor of the late John Robinson of Robinson Design, who served as the development architect for the project. Robinson passed away in February 2021 at the age of 73. He honorably served in the U.S. Airforce and was a member of the American Institute of Architects and the National Society of Professional Engineers. Members of the Robinson family were in attendance at the dedication ceremony.

Awards program supports and opens doors for tomorrow’s housing leaders

Providence, RI – RIHousing’s Board of Commissioners approved the Spring 2021 Michael S. Van Leesten Memorial Awards at its June meeting. The awards program honors the life and work of Michael S. Van Leesten, a longtime advocate dedicated to improving the lives of Rhode Islanders through his business leadership, civil rights activism, and public service. The awards program supports students from diverse backgrounds who are pursuing academic fields or careers related to the housing industry.

“Michael’s legacy can be seen across Rhode Island and beyond,” said Nicolas P. Retsinas, Chairman of the RIHousing Board of Commissioners. “These scholarship awards are ensuring his legacy lives on with the next generation of housing professionals and leaders.”

RIHousing released applications for the awards program in March 2021. A committee consisting of agency staff and Jill Van Leesten, Van Leesten’s daughter, reviewed each proposal in accordance with scoring criteria and made recommendations to the Board of Commissioners. As a result, $5,000 scholarships were approved for two students pursuing a degree related to housing. Recipients include: Temidayo “Dayo” Akinjisola, pursuing a degree from Roger Williams University School of Law, and Diana Figueroa to continue her studies at Tufts University for a Master of Arts in Urban and Environmental Policy & Planning.

“I am deeply grateful and humbled to be a 2021 recipient of the Michael S. Van Leesten Scholarship,” said award recipient Dayo Akinjisola. “Mr. Van Leesten was a remarkable example of someone who valued truth telling, collaboration, and service, all of which I hope to exemplify throughout my law school career and beyond.”

“There is a need for local urban planners in the state of Rhode Island who are involved in the communities they work in, and acknowledge what is at stake,” said award recipient Diana L. Figueroa. “The Michael S. Van Leesten Award is bridging that gap by supporting my pursuit of obtaining a Masters in Urban Policy and Planning at Tufts University.”

Born and raised in Providence, Van Leesten was one of the founders and the Executive Director of Opportunities Industrialization Center of Rhode Island, a non-profit corporation offering career coaching, job training, and support for small businesses in urban communities. He served as the Chairman of the Board of Commissioners of RIHousing from 1987-1991 and held leadership positions with the Providence Branch of the NAACP, Urban League of Rhode Island, and the Rhode Island Black Heritage Society.

“We were excited about the quality of applications for the inaugural awards program,” said Carol Ventura, Executive Director of RIHousing. “Opening doors and expanding access to individuals seeking to enter the housing field is an important step in growing and supporting the next generation of leaders in Rhode Island.”

Investments will address housing shortage and boost the economy

Providence, RI – RIHousing’s Board of Commissioners approved investments at its May Board meeting that will create 452 affordable homes, significantly improve the neighborhoods where they are located, and support over 500 jobs. Funding awards were approved for five developments located in Exeter, Providence, Tiverton, and Woonsocket.

“Affordable housing is a major issue for Rhode Island, which has only been exacerbated by the pandemic,” said Governor Daniel McKee. “Ensuring that all Rhode Islanders have access to a safe and affordable home is critical to the success of Rhode Island families, our communities and our state. This is why I am committed to creating a permanent funding stream for the construction of affordable housing in Rhode Island.”

The developments represent a diverse range of property types, from preservation to new construction, located in rural, suburban and urban communities across the state. When constructed, these developments will provide affordable apartments to families who are currently being priced out of the rental market.

“Long before the COVID-19 pandemic reached us, Rhode Island was facing a profound housing crisis,” said RI House Speaker K. Joseph Shekarchi. “We cannot wait any longer to sound the alarm and make affordable housing a top legislative priority for Rhode Island. In the meantime, these investments will help alleviate the housing shortfall and affordability crisis while reinvigorating our state’s economy.”

Housing production in Rhode Island has not kept pace with the demand for affordable homes. Utilizing a variety of funding sources to attract private investment, RIHousing is working alongside developers to breathe new life into these communities while creating hundreds of well-paying jobs in the construction and allied fields.

Three of the developments received preliminary approval of more than $3.7 million in Low-Income Housing Tax Credits (LIHTC), the principal federal program for the construction and rehabilitation of affordable apartments. RIHousing allocates tax credits to developers of affordable apartments. Tax credits are a dollar-for-dollar credit against federal tax liability, which attracts further private investment to support housing initiatives.

“Rhode Island’s housing situation is dire and there is no ‘one size-fits-all’ solution to addressing the lack of affordable housing options,” said RI Senate President Dominick J. Ruggerio. “Housing is a critical issue for residents in every city and town in Rhode Island and these investments go a long way in helping our state address the need.”

Two of the developments are located in Providence and will provide housing options for families making less than 60% of the Area Median Income (AMI), or $51,900 for a family of four. The Joseph Caffey Apartments (the development previously known as Barbara Jordan 2 apartments) will introduce 79 affordable rental units in 11 buildings in South Providence. Braeburn Chatham Apartments will rehabilitate 91 units in two existing Section 8 developments in the city’s Wanskuck neighborhood.

Other developments include The Millrace District in Woonsocket, which entails the adaptive reuse of a historic mill complex into a mixed-use and mixed income development with 70 units of affordable housing alongside 21,439 square feet of co-office, retail, and arts fabrication space. Bourne Mill III will introduce 59 units (47 of which are affordable to households earning less than 60% AMI) of mixed-income rental housing in a single newly constructed 4-story building located on the site of the redeveloped Bourne Mill complex. Lastly, Pine View Apartments features new construction of 40 units of housing for households with incomes ranging from 30% to 60% of AMI. In addition, 2 other projects in early stages of development (Living East Bay and Riverside Townhomes) received preliminary approval for HOME and Housing Trust Fund awards.

“For almost 50 years, RIHousing has been working to provide a broad range of housing options for Rhode Islanders,” said Carol Ventura, Executive Director of RIHousing. “During the pandemic, the need and demand for affordable homes rose sharply, making our work even more critical to ensuring housing is affordable to Rhode Island’s residents. Last year, RIHousing provided funding to develop and preserve more than 1,110 rental homes and we are committed to continuing our efforts to create housing options that is within financial reach of Rhode Islanders.”

Project created 30 apartments for formerly homeless families as the number of local families experiencing homelessness continues to climb

Providence, RI –

U.S. Senator Jack Reed, U.S. Senator Sheldon Whitehouse, Governor Daniel McKee, Lt. Governor Sabina Matos and Providence Mayor Jorge Elorza joined leaders from Crossroads Rhode Island, RIHousing, the Providence Housing Authority and other community organizations today to celebrate the completion of 30 newly-renovated housing units for formerly homeless families.

“There’s nothing more heart-breaking than seeing a child have to pick up the school bus outside of a homeless shelter because of a housing shortage,” said Karen Santilli, President and CEO of Crossroads Rhode Island. “I’d like to thank our entire congressional delegation, our leaders in state government and our community partners for supporting this housing project. Ending family homelessness in Rhode Island is entirely possible given adequate funding and the creation of more housing like this that families can actually afford.”

The recently-completed project, which is the result of a partnership between Crossroads Rhode Island, RIHousing and the Providence Housing Authority, comes as the number of families experiencing homelessness in Rhode Island increased by 12 percent over the last year. Economic fallout from COVID-19, as well as a critical shortage of housing that families with very low incomes can afford, have both contributed to the rise in family homelessness.

“I created the national Housing Trust Fund to provide a dedicated source of federal funding to help increase the supply of affordable housing and I’m pleased this money is being put to good use here in Rhode Island. Investing in quality, affordable housing goes hand-in-hand with building stronger communities and smart economic development. I will continue working to deliver federal funding to Rhode Island and we must build off of the success of the Housing Trust Fund,” said U.S. Senator Jack Reed, a senior member of the Appropriations Committee who created the National Housing Trust Fund in 2008.

“A parent’s ability to hold a steady job and get kids off to school on time starts with having a safe, comfortable place to call home,” said U.S. Senator Sheldon Whitehouse. “These newly renovated apartments will allow families who have experienced homelessness to get back on their feet.”

Crossroads Family Housing features 30 extensively-renovated apartments located in 14 different buildings in Providence. These homes provide permanent, safe, affordable and respectful housing for families with very low incomes who were homeless or at risk of homelessness, as well as case management and other services as needed to help these families thrive. Apartments will be affordable to households earning less than 30 percent of Area Median Income (AMI), or $29,950 for a family of four.

“A safe, suitable home is something we should never take for granted, yet so many families and children struggle to afford a place to live,” said Governor Dan McKee. “I want to thank the congressional delegation, Crossroads Rhode Island, RIHousing and the Providence Housing Authority for completing this project to give 30 families a new beginning. Rhode Island is facing a housing crisis, which is at the root of so many issues in our communities, and this is a major step towards creating a more equitable future for all Rhode Islanders.”

“Over the past 15 months, we have seen how important reliable and safe housing is for our residents,” stated Lieutenant Governor Sabina Matos. “I want to thank the partners and funders for their hard work to leverage public and private dollars to create homes for hardworking Rhode Islanders. I firmly believe that housing is a basic human right, and I look forward to seeing more projects like this come to fruition. To our 30 families, I say, welcome home!”

The extensive renovations included new interiors, appliances, insulation, heating, exterior renovations, and handicap accessibility The work was funded by a combination of federal and state funding sources including almost $4 million in total from the federal Housing Trust Fund and Capital Magnet Fund (CMF) programs, $2.5 million from the state bond program Building Homes RI (BHRI), and $627,378 from the Preservation Revitalization Deferred Loan Program, which provides funding to address capital repairs.

“This project represents another milestone for an equitable housing future in Rhode Island,” said Mayor Jorge O. Elorza. “This historic investment is an important step towards a just and equitable future for our residents, and by increasing access to safe and affordable housing, we are laying out a blueprint to build a more resilient community. I am thrilled that these units will see new life as homes for families who need them most right here in Providence.”

“Creating the kinds of thoughtful, affordable and safe homes you see here today takes numerous partners, years of hard work and dedication, and funding from a variety of sources,” said Carol Ventura, Executive Director of RIHousing. “Every dollar of financing goes a long way to ensuring Rhode Islanders have a roof over their heads, individuals working in the construction and allied fields remain employed, neighborhoods are revitalized, and our state is made stronger.”

In addition to providing permanent supportive housing for residents, Crossroads Family Housing secured support from the Providence Housing Authority (PHA) to ensure tenants’ rent will not exceed 30% of their income. PHA has provided project-based vouchers that will subsidize 19 of the units in the project through its Section 8 funding for a twenty year period.

“This is such a challenging time for Rhode Islanders to find affordable housing, and it is particularly difficult for families who are experiencing homelessness,” said Melissa Sanzaro, Executive Director of the PHA. “We are thrilled to be able to help subsidize this project through our Project Based Voucher program and expand the availability of quality, affordable housing in the community.”

Awards broaden access and support digital literacy

Providence, RI –

RIHousing today announced funding awards to support innovative and long-term sustainable projects to increase internet access for low- and moderate-income households across the state. The agency’s new “Bridging the Digital Divide” (“Digital Divide”) program provides financial resources to eligible organizations and municipalities in support of initiatives to bridge the digital divide.

“While there are a number of initiatives to broaden access and remove barriers, there are still gaps in access to high-speed internet,” said Carol Ventura, Executive Director of RIHousing. “We recognize that high-speed internet access is now considered a key utility and sought proposals that will provide low-and-moderate income Rhode Island residents with free or low-cost, long-term access to the internet as well as digital capacity and literacy.”

RIHousing issued a Request for Proposals (RFP) for awards of Digital Divide funding in February 2021. A total of $250,000 in funding, with a maximum award amount of $75,000 per grant, was made available. The agency received proposals from 20 applicants representing service organizations, housing developers, public housing authorities, municipalities, a university, and privately owned entities. Funding requests received totaled $969,904.

“The COVID-19 pandemic greatly accelerated the shift to online services, making digital access a necessity for participation in society and economic well-being,” said Nicolas P. Retsinas, Chairman of the Board of Commissioners at RIHousing. “Disparities in broadband access can have adverse economic and social consequences on those left behind. Award recipients presented innovative and creative programs that will empower Rhode Islanders all across the state to take advantage of new opportunities and compete in the knowledge economy.”

Applications were evaluated on the proposed population served, need in the community, program sustainability, partnerships, organizational capacity, and program innovation, as well as several other key metrics. Program grant terms are for one year.

The following organizations were approved for funding by the RIHousing Board of Commissioners at its May Board meeting:

• City of Central Falls: $50,000, Mobile hot spots and payment for hot spots, Central Falls
• NeighborWorks Blackstone River Valley: $75,000, Outdoor public WiFi; upgraded hardware for youth centers; devices, WiFi and digital literacy for seniors, Northern Rhode Island
• Newport Housing Authority: $75,000, Expanded WiFi for public housing residents, Newport
• University of Rhode Island: $50,000, Devices and digital literacy via URI students for seniors, East Greenwich, Jamestown, Newport, North Kingstown, North Smithfield, South Kingstown, Providence

The program represents RIHousing’s commitment to helping Rhode Islanders and complements existing initiatives from cable providers, the state and non-profit community to provide tablets and hot spots and improve internet use and digital literacy.

Providence, RI – RIHousing and the Rhode Island Office of Energy Resources (OER) will be releasing a Request for Proposals (RFP) on May 26 for the 2021 Zero Energy for the Ocean State (ZEOS) Program. This program offers up to $750,000 in grants to design and construct affordable, energy efficient housing to serve low- and moderate-income Rhode Islanders.

This program is the result of a public-private partnership between RIHousing, OER and National Grid to stimulate innovative, replicable solutions that utilize cost saving, clean energy technologies in homes. Program partners are seeking proposals from qualified teams to design and construct affordable, energy efficient Zero Energy Buildings (ZEBs) that use technologies such as solar, storage, and electric heat pumps, and enable demand response participation.

“This multi-agency investment will create replicable models for sustainability across our state,” said Carol Ventura, Executive Director at RIHousing. “RIHousing is committed to developing housing that Rhode Islanders can afford. The energy efficient features in these homes will result in reduced energy costs for residents, thereby increasing their disposable income to meet other expenses.”

Zero Energy Buildings are defined as any energy-efficient building with zero net energy consumption, meaning the total amount of energy used by a building on an annual basis is roughly equal to the amount of renewable energy created on the site.

This new grant funding is being made available following a successful first round of ZEOS in 2019 that resulted in the funding of three projects with a variety of income requirements and innovative designs. Of those projects, Sheridan Small Homes, developed by ONE Neighborhood Builders, is currently constructing a community of five affordable passive-house units.

“As Rhode Island works to meet its net-zero emissions target by 2050, the state must continue to lead the nation in developing cost-effective, clean energy solutions that reduce energy consumption and costs, shrink our carbon footprint, and grow good-paying jobs. The ZEOS project builds upon the momentum of recent successes in growing our green energy economy, while also expanding affordable housing for Rhode Islanders,” said State Energy Commissioner Nicholas Ucci.

The Request for Proposals will be publicly posted on the RIHousing website https://www.rihousing.com/rfps-rfqs/ on May 26. Eligible units may be new construction and/or renovation projects in 1-4 family or multifamily homes. The ZEOS grant award will be limited to $15,000 per unit for 1-4 family properties and $6,000 per unit for multifamily developments. Buildings must meet ZEB standards and participate in National Grid’s Residential New Construction Program. The total award cannot exceed $250,000 for any individual project. Previously funded ZEOS projects are not eligible for this grant.

“We look forward to supporting the 2021 ZEOS initiative to further accelerate the adoption of net zero energy homes for the affordable housing market in Rhode Island,” said Chris Porter, Director, Customer Energy Management, National Grid. “The principles of this grant – to create replicable designs incorporating strategies to reduce energy cost burdens, improve thermal comfort, and support the clean energy future – are critical to ensuring a reliable, equitable and scalable pathway to decarbonization for all Rhode Islanders.”

This program will leverage multiple sources of funding, including a grant from RIHousing, state Renewable Greenhouse Gas Initiative (RGGI) proceeds, and available utility-administered incentives. While individual homeowners are not eligible to receive direct funding under this grant, individual organizations or teams composed of a lead organization and partner organizations are welcome to apply. Complete details on the program and RFP can be found online at: www.rihousing.com.

Tenants and Landlords Encouraged to Sign up for Program Information

Providence, RI –

RIHousing today announced the launch of a new webpage and sign up form for Rhode Island renters and landlords interested in the state’s new rental assistance program. RentReliefRI is the agency’s new rent relief program scheduled to be rolled out at the end of March. Interested applicants can sign up now to receive email notifications once a launch date has been announced.

Funded via $200 million in rent relief funds from the federal Emergency Rental Assistance (ERA) Program, the new rental assistance program known as RentReliefRI will help eligible Rhode Island renters struggling to pay their rent or utilities as a result of the COVID-19 pandemic.

“The COVID-19 crisis continues to impact Rhode Islanders across the state,” said Carol Ventura, Executive Director of RIHousing. “These new federal funds will help struggling renters remain in their homes.”

Previous rental assistance programs known as HousingHelp RI and Safe Harbor have expended all of their available funding and have closed. Those renters who previously applied for rental assistance through those programs but did not receive assistance due to lack of funding, will be prioritized in this new program.

When the new program launches later this month, applicants will be able to sign up for assistance using an online portal. Assistance completing applications will be available via a network of partners throughout the state. Interested tenants and landlords may sign up to receive email alerts for when the program launches. Program information, eligibility criteria and the sign up for e-alerts can be found online at: www.RentReliefRI.com.

“We understand the urgency and the need for help and are working to launch the program and to provide Rhode Islanders with the help they need,” said Ventura. “In the meantime, we encourage both tenants and landlords to go online, sign up for our email notifications, and review the information and eligibility criteria so they can be as prepared as possible when the program launches.”

This program is only for renters and their landlords. It does not provide assistance to homeowners having difficulty making their mortgage payments.

Nonprofit developer and RIHousing recapitalize two senior affordable developments in Narragansett

Preservation of Affordable Housing (POAH), a nonprofit affordable housing developer with 12 properties in Rhode Island, has closed on a second stage tax credit recapitalization for two senior communities in Narragansett with the support of tax-exempt bonds issued by RIHousing. The two senior housing communities – South Winds Apartments and Beachwood Apartments – are located a half mile apart, just blocks from the Narragansett sound.

The properties comprise 104, one- and two-bedroom apartments that were originally preserved by POAH in 2004. As part of the recapitalization, the two properties will be combined under one common ownership, renamed Beachwinds Apartments, and undergo a $9 million renovation program. By combining the two properties, POAH and its management company subsidiary, POAH Communities, will achieve operational efficiencies and maximize the dollars invested in renovations.

POAH has engaged Union Studio Architecture and Community Design and Pariseault Builders, two local Rhode Island partners, as the architect and general contractor for the $9M renovation. The rehabilitation scope includes apartment upgrades, building systems replacements, siding and roofing improvements, and site repairs all with a focus on energy efficiency and long-term stewardship of the properties.

RIHousing is providing the tax-exempt bond financing of $17.5M with Boston Financial contributing $12.1M in Low Income Housing Tax Credit equity. Construction is expected to be completed by the end of 2021.

“We are grateful to RIHousing and Boston Financial for partnering with us to substantially upgrade these affordable housing properties and to improve the quality of life for our residents who call them home. This will help to ensure the long-term affordability of these properties in the face of growing housing needs in Rhode Island,” said Aaron Gornstein, POAH President and CEO. “We also appreciate the strong support from the Rhode Island Congressional delegation for boosting funding for affordable housing programs, including the federal Low-Income Housing Tax Credit Program, which made this possible,” Gornstein said.

“Rhode Island’s senior population is growing, and housing affordability poses a substantial barrier to those wanting to age in their community,” said Carol Ventura, Executive Director of RIHousing. “The renovations at Beachwinds Apartments ensure these rental homes remain affordable, safe and healthy for seniors for years to come.”

New grant program seeks innovative programs and partners

Providence, RI – RIHousing today announced the availability of funding to support innovative and long-term sustainable projects to increase internet access for low- and moderate-income households across the state. The new program provides financial resources to eligible organizations and municipalities in support of initiatives to bridge the digital divide.

“High-speed internet is increasingly considered a basic necessity for employment, education, and day-to-day tasks, particularly in light of the COVID-19 pandemic and the shift to remote work and school,” said Carol Ventura, Executive Director of RIHousing. “However, many low- and moderate-income households cannot access high-speed internet at home, resulting in barriers to their ability to access critical resources and information.”

One important aspect of the “digital divide” centers around access to high-speed internet, also known as broadband. Broadband is provided by a series of technologies that give users the ability to send and receive data at volumes and speed that support applications such as telemedicine, distance learning, remote work, public safety and civic engagement. Disparities in broadband access can have adverse economic and social consequences on those left behind.

“Imagine a highway that leads to jobs, to education, to political participation, to information about the country and the world,” said Nicolas P. Retsinas, Chairman of the Board of Commissioners at RIHousing. “You need the internet to travel that highway. Today, a ‘digital divide’ bars a swathe of us from that road.”

In Rhode Island, 49,573 families or 12.2% of households, are not connected to the Internet and another 34,936 families or 8.6% only have access via a smartphone and data plan, making nearly a quarter of Rhode Islanders under-connected (2019 American Community Survey).

While there are a number of initiatives to help bridge the digital divide, there are still gaps in access to high-speed internet. In response, RIHousing has created the Digital Divide Fund and is seeking proposals that will provide low-and-moderate income Rhode Island residents with long-term, high-speed access to the internet. Partnerships, pilot projects, ‘out-of-the-box thinking’ and replication of successful projects from across the country are strongly encouraged.

“In today’s increasingly technological and connected world, too many people are being left behind when it comes to internet access,” said James Comer, Deputy Director, RIHousing. “The internet is now a necessity for all, from school-age kids needing to do their homework, to adults looking to gain employment. This new funding will help close the digital divide for Rhode Islanders, further reducing barriers to learning, quality of life and future success.”

The program represents RIHousing’s commitment to helping Rhode Islanders and complements existing initiatives from cable providers, the state and non-profit community to provide tablets and hot spots and improve internet use and digital literacy.

A total of $250,000 is available in funding, with a maximum award amount of $75,000 per grant. The grant term is for one year and non-profit and for-profit organizations, public housing authorities, municipalities, faith-based organizations and community housing development organizations are eligible to apply.  Applications will be evaluated on the proposed population served, need in the community, program sustainability, partnerships, organizational capacity, and program innovation, as well as several other key metrics.

Complete information on the program and how agencies and municipalities can apply, can be found online at: www.rihousing.com/rfps-rfqs. The deadline for submissions is Friday, March 12, 2021 at 3:00 pm EST.

RIHousing Launches New Investor Transparency Initiative and January Bond Sale

New Investor Website www.RIHousingBonds.com will be used to Attract More Municipal Bond Investors

Providence, RI – December 18, 2020

Rhode Island Housing and Mortgage Finance Corporation (RIHousing) today announced a new investor outreach initiative aimed at attracting more investors to their municipal bond offerings. In advance of its upcoming bond sale, RIHousing launched a new, open-access Investor Relations (IR) site, which provides a single location for investors to access the data and documents that outline the credit features of the agency’s financing programs.

The new IR website is free to all investors at www.RIHousingBonds.com. It is being powered by BondLink, a financial technology company that has set the standard for investor transparency across the $4 trillion municipal bond market.

RIHousing is currently planning its next Multi-family issuance, which is expected to come to market in January 2021. Information regarding the sale will be accessible on the agency’s new site.

“We are committed to providing investors with easy access to our financial data,” said Kara Lachapelle, Chief Financial Officer at RIHousing. “How data is provided is a key part of being transparent: using an investor website allows us to reach more investors, and to provide financial updates in a much more user-friendly format, whether investors are using a Bloomberg terminal or a mobile phone.”

“Given how difficult market conditions have become, and how credit sensitive investors are now relative to six months ago, we’re excited to work with RIHousing to reach more investors and raise investor demand for its bond programs,” said Colin MacNaught, co-founder and CEO of BondLink. “Sophisticated issuers like RIHousing understand a commitment to transparency includes providing a better digital experience for investors online, and we look forward to partnering with them.”

Academic research shows that better, more accessible disclosure can lead to lower bond yields for municipal issuers and lower trading costs for investors. Enhanced issuer transparency has also been a continued point of emphasis from market regulators.

RIHousing Issues Inaugural Social Bonds to Support Affordable Housing

Proceeds will open doors to homeownership for low-to-moderate income RIers

Providence, RI – RIHousing announced the issuance of $142 million of new bonds, the first ‘Social Bonds’ to be offered by the agency. Social Bonds are bonds that raise funds for new and existing projects that address or mitigate a specific social issue and/or seek to achieve positive social outcomes.  The sale of the bonds will finance affordable home loans and down payment assistance to low-to-moderate income first-time homebuyers in Rhode Island.

“Building upon the growing interest in socially responsible investments, these bonds will enable RIHousing to open the doors to homeownership to more low-and-moderate income first-time homebuyers,” said Kara Lachapelle, RIHousing’s Chief Financial Officer. “Offering these bonds as ‘Social Bonds’ allows investors to invest directly in bonds that achieve positive social outcomes.”

For almost 50 years, RIHousing has worked to ensure that all Rhode Island residents have access to safe and healthy homes in livable and sustainable communities. The agency finances affordable housing through a variety of channels, including its longstanding Homeownership Opportunity Program (“HOP”), where RIHousing issues bonds to finance mortgage loans to first time homebuyers of low-to-moderate income and provides down payment assistance.

“We recognize that homeownership is a meaningful way for families to build wealth and equity, and we are committed to helping more Rhode Islanders invest in their future and achieve the dream of homeownership,” said Carol Ventura, Executive Director of RIHousing. “The proceeds from the sale of Social Bonds will allow us to continue fulfilling our core mission of helping our state and its residents.”

Social Bonds support projects with clear social benefits aimed at addressing or mitigating a specific social issue and/or seeking to achieve positive social outcomes. RIHousing’s Social Bonds designation reflects the use of proceeds of the bonds in a manner that is consistent with the “Social Bond Principles” as promulgated by the International Capital Markets Association (“ICMA”) and mapped to the United Nations Sustainable Development Goals.  The designation reflects the use of the proceeds to meet the goals of reducing poverty and inequalities, expanding access to financial services and supporting sustainable cities and communities in the state. Mortgage loans funded by the bond proceeds will be originated by the agency’s network of Participating Lenders and the RIHousing Loan Center.

“RIHousing has a deep commitment to social responsibility,” said Ventura. “Social Bonds are an important opportunity for investors seeking to make socially impactful investments and critical for attracting funding to benefit some of the most vulnerable Rhode Islanders.”

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

FOR IMMEDIATE RELEASE

September 16, 2020

Contact: bonds@rihousing.com

RIHousing Launches New Down Payment Assistance Program for First-time Homebuyers

$10,000 in down payment assistance available to eligible homebuyers

Providence, RI – RIHousing today announced a new down payment assistance program for first-time homebuyers. The “10kDPA” program provides a $10,000 down payment assistance loan to eligible homebuyers in Rhode Island.

“We’re excited to be able to offer this new program to help first-time homebuyers with what is often the biggest hurdle to homeownership: the down payment,” said Carol Ventura, Executive Director of RIHousing. “Approximately 90% of our mortgage customers receive some form of down payment assistance, which greatly reduces the out-of-pocket expenses incurred during the mortgage process.”

Prospective homebuyers must obtain a RIHousing mortgage through a Participating Lender or through the RIHousing Loan Center. Homebuyers must have a minimum credit score of 660, occupy the home as their primary residence and be a first-time homebuyer purchasing a 1-4 family home or condominium in Rhode Island. The 10kDPA program is structured as a second mortgage and certain income limits and eligibility criteria apply.

“While the COVID-19 pandemic has negatively impacted many renters and existing homeowners, it has also intensified the desire by many to buy a home,” said Peter Pagonis, RIHousing’s Director of Homeownership. “While homebuying activity slowed due to the pandemic, it has significantly rebounded since May. Record low mortgage rates are providing opportunities for buyers to lock-in low monthly mortgage payments for future years.”

In order to participate in the program, homebuyers must complete a RIHousing-approved Homebuyer Education class. The course covers a number of topics, including budgeting, understanding credit, the closing process, and the costs associated with homebuying.

“RIHousing has been opening the doors to homeownership for almost 50 years. In that time, we’ve helped over 85,000 homebuyers invest in their future and achieve the dream of owning a home,” said Ventura. “For those who are in a position to do so, now may be a great time to purchase a home. In fact, for many, owning a home is an important first step to building wealth and investing in the future.”

More information on the 10kDPA program is available online at: www.rihousing.com/10kDPA.

FOR IMMEDIATE RELEASE

September 8, 2020

Contact: bonds@rihousing.com

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RIHousing Launches New Program to Assist Rhode Island Renters

Financial assistance provides housing stability for vulnerable families

Providence, RI –RIHousing today announced a new rental assistance program for eligible Rhode Island renters struggling to pay their rent as a result of the COVID-19 pandemic. The agency’s HOME Emergency Tenant Based Rental Assistance Program (HOME E-TBRA) will help low-to-moderate income families negatively impacted by the unprecedented loss of jobs and income due to COVID-19.

“Rhode Islanders are facing unprecedented challenges as a result of COVID-19, and we should be making every effort to help families stay safely in their homes,” said U.S. Senator Jack Reed, the Ranking Member of the Appropriations Subcommittee responsible for funding federal housing programs. “This new program is a win-win because it will help families remain in their rented homes while also ensuring landlords and property owners are able to meet their own financial obligations. I will continue fighting for additional federal foreclosure prevention, rental assistance, and eviction prevention resources. This is why I have introduced S. 3620, the Housing Assistance Fund, to provide $75 billion in additional federal resources help keep families in their homes.”

To address the challenges, RIHousing is utilizing $500,000 in funding from the HOME Investment Partnerships Program (HOME) to establish the COVID-19 E-TBRA program to provide housing stability for vulnerable Rhode Island families. The HOME program funds a wide range of affordable housing activities, including building, buying, and rehabilitating rental and single-family homes and providing direct rental assistance to low-income people. HOME is a federal block grant to state and local governments designed exclusively to create affordable housing for low-income households.

“The inability to pay rent threatens housing stability for our state’s renters in addition to the financial viability of owners and operators of affordable housing,” said Carol Ventura, Executive Director of RIHousing. “RIHousing is committed to helping Rhode Island families weather this storm. We are working hard to offer creative and effective solutions to the housing challenges facing Rhode Islanders.”

Tenants that meet income eligibility guidelines and live in multi-family rental units, duplexes and single-family residential units owned and operated by individuals or apartments owned by corporate landlords are eligible to apply. Preference will be given to households that are experiencing homelessness or are at risk of imminent homelessness as a result of COVID-19, and/or have experienced a loss of job/income as a result of the pandemic.

The E-TBRA will assist approximately 60-100 income-eligible households with security deposit and/or housing payment assistance from April 1, 2020 through December 31, 2020. Assistance payments will be made directly to landlords, who will be required to meet certain housing standards and enter into a contract with the agency.

Funds for the HOME E-TBRA program are limited. Applications will be accepted beginning Tuesday, September 8 through Tuesday, October 6, 2020. Rhode Island renters facing homelessness and/or struggling to make their rent payments due to a loss of income resulting from COVID-19 are encouraged to reach out today. Program information and an application for assistance can be found online at: www.rihousing.com/emergency-rental-assistance/.

The HOME ETBRA Program is one of several assistance programs launched by RIHousing in response to the COVID-19 pandemic. As part of the Hardest Hit Fund Rhode Island, which is also federally funded, the agency recently launched the COVID-19 Mortgage Payment Assistance Unemployment Program for Rhode Island homeowners who experienced unemployment or underemployment due to the COVID-19 health crisis and are struggling to make their mortgage payments. Earlier this year, the agency launched its HomeSafe Initiative, which provides one-time temporary financial assistance to eligible Rhode Island residents facing a short-term housing crisis. For information on COVID-19 resources and programs, visit www.rihousing.com/covid-19.

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August 18, 2020

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RIHousing Launches Mortgage Payment Assistance Program to Help RIers

Federal Hardest Hit Funds offer COVID mortgage relief for homeowners

Providence, RI – RIHousing today announced $2 million in available mortgage payment assistance funding through the federally-funded Hardest Hit Fund Rhode Island (HHFRI) program. The new program provides financial assistance to Rhode Island homeowners negatively impacted by the COVID-19 pandemic and struggling to make their mortgage payments. Borrowers must have experienced unemployment or underemployment due to the COVID-19 pandemic to be eligible.

“During this public health emergency, housing is one of the best forms of personal protective equipment,” said U.S. Senator Jack Reed, a senior member of the Appropriations Committee. “Too many Rhode Islanders have already lost their jobs during this pandemic, and we can’t afford to have families lose their homes as well. This federal funding will help more families stay safe as they navigate the evolving challenges of COVID, and I will continue fighting for additional federal foreclosure prevention and eviction prevention resources. This is why I have introduced S. 3620, the Housing Assistance Fund, to provide $75 billion in additional federal resources help keep families in their homes.”

Senator Reed was instrumental in securing federal resources for Rhode Island through the Hardest Hit Fund (HHF), which was established by the Federal government in February of 2010 to provide targeted aid to families in states hit hard by the economic and housing market downturn. Rhode Island is one of 18 states and the District of Columbia that received money from the U.S. Department of the Treasury to help homeowners avoid losing their homes to foreclosures. During the last economic recession, RIHousing was able to utilize the Hardest Hit program to help almost 6,000 families in all 39 cities and towns keep their homes.

“It is critical that we do everything that we can to keep Rhode Islanders in their homes during this period of economic uncertainty.” said Governor Gina M. Raimondo. “There’s no question that during this crisis, the hardest hit families have been those who can least afford it. The HHFRI program provides meaningful relief to those Rhode Island homeowners.”

The HHFRI program offers a five-year, zero interest forgivable loan for eligible homeowners to pay up to six months of mortgage payments. This program helps qualified homeowners make monthly mortgage payments and/or catch up on their payments if they have fallen behind due to a recent involuntary loss of employment or reduction in employment income. Payments can also cover arrearages if the homeowner fell behind because he/she is unemployed or underemployed due to the pandemic. All borrowers must have been current on their mortgage payments as of March 1, 2020 and must meet certain income and eligibility criteria. Applicants currently in a forbearance agreement with their lenders are eligible for the program.

“The COVID pandemic has put many homeowners in a tight financial spot, making it hard to keep up with housing costs,” said Carol Ventura, Executive Director of RIHousing. “RIHousing is proud that we can offer this assistance to help Rhode Islanders remain in their homes. Since the start of the pandemic, RIHousing has been working to roll out new programs to provide relief for both renters and homeowners.”

Funds for the program are limited and will be reserved on a first-come, first-served basis. The program will be offered until full allocation is reached. Rhode Island homeowners struggling to make their mortgage payments due to a loss of income resulting from COVID-19 are encouraged to reach out today. Information and applications for assistance can be found online at: www.rihousing.com/HHFRI.

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June 25, 2020

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Developer Selected to Revitalize Barbara Jordan II Apartments in South Providence

Decision follows extensive community engagement effort

Providence, RI – RIHousing’s Board of Commissioners today announced the selection of Omni Development Corporation and The Wingate Companies (Omni/Wingate) as co-developers of the Barbara Jordan II development in Upper South Providence. The developer selection process began over two years ago and included an extensive community engagement component, rigorous staff evaluation of developer proposals and the review and unanimous approval from an outside advisory committee. Final developer selection took place at last week’s RIHousing Board of Commissioners meeting.

“The redevelopment of Barbara Jordan II marks a major milestone in our long-term vision for promoting sustainable, inclusive growth throughout Providence neighborhoods,” remarked Mayor Jorge Elorza. “By creating new housing, and particularly new affordable housing options, we are building stronger communities and taking bold action to provide homes for our residents.”

Barbara Jordan II includes 26 two- and three-story apartment buildings situated on scattered sites totaling 2.75 acres. The 26 buildings contain a total of 74 apartments, all of which are currently vacant. In 2018, the U.S. Department of Housing and Urban Development finalized a foreclosure of the properties and in June of that year ownership was transferred to RIHousing. Developer selection marks the next phase of an extensive effort to redevelop these foreclosed and vacant properties.

“We’re incredibly excited to see the redevelopment of the properties move forward and are thankful for the level of resident participation in the community engagement process,” said Carol Ventura, RIHousing Executive Director. “Now more than ever we need to develop safe, affordable homes in neighborhoods where families can thrive. The extensive outreach and developer selection process ensure the redeveloped sites will meet the needs of residents and have a transformational impact on their lives and on the broader community.”

Local residents, anchor institutions, neighborhood organizations and other stakeholders participated in a full range of public engagement activities over a seven-month period. Participants worked together to create a vision for the redevelopment of the properties and surrounding area.  Key takeaways from the engagement process were used to craft a Request for Proposals for redevelopment of the site.

“The community is encouraged about Barbara Jordan II being brought to fruition,” said State Senator Harold M. Metts. “I am both thankful and elated that families will get decent and affordable housing, and that the present blight that has haunted us for years will be replaced by new units that will visually uplift the neighborhood.”

“We are living in a time for new beginnings,” said State Representative Anastasia Williams. “I’m thrilled to see the redevelopment plans and efforts for Barbara Jordan ll moving forward to improve families’ lives, employ local workers and significantly re-shaping a whole neighborhood on Providence’s south side, resulting in a sweet community victory for everyone.”

An advisory committee composed of representatives from the City of Providence, Providence Housing Authority, LISC Rhode Island, the Rhode Island Housing Resources Commission, and a retired executive with Enterprise Community Investment, Inc., reviewed developer submissions, interviewed candidates and made the unanimous decision to select the Omni/Wingate team.

“As a City we are in need of affordable housing, and I am very happy to see that this project has come to fruition,” stated Providence City Council President Sabina Matos. “I know how hard Deputy Majority Leader Mary Kay Harris worked to bring her community together over the course of several years.  By doing so, she ensured that those who live in the neighborhood were able to have their voices heard, and that the design will reflect the needs and wants of her neighbors. This is a great new chapter in the neighborhood, and I want to say thank you to Deputy Majority Leader Harris for leading the way.”

Providence Deputy Majority Leader Mary Kay Harris stated, “I want to thank RIHousing for listening to the needs and desires of my community. For too long, developers would come into our neighborhood and not ask us – the residents – what we needed or what we wanted to see. I believe that our community has had a chance to share our voices, and I look forward to this next chapter. This project is going to be a beautiful representation of what our community needs and will change the quality of so many people’s lives.”

The development team’s selection was based on several factors, including: their strong presence in the neighborhood, significant experience and expertise in housing development and property management, design proposal and commitment to hiring local MBE/WBE construction firms.

“Work on the Barbara Jordan properties provide a once-in-a-generation opportunity to transform this neighborhood and significantly improve the lives of local residents,” said Jeanne Cola, Executive Director, LISC Rhode Island. “This project was named for one of our country’s leaders in the civil rights movement. Barbara Jordan was one of the first U.S. Congresswomen and was a passionate advocate for all Americans. To properly restore and revitalize these homes for the community will honor the legacy she left to our country. Efforts such as these are successful because community members, stakeholder groups, for- and not-for-profit entities come together to create a shared vision. The Omni/Wingate development team is the right partner to see through that vision.”

The Providence-based Omni Development Corporation has created over 1,400 units of affordable housing at 20 developments within Rhode Island, Massachusetts and Connecticut over the last 29 years. The Wingate Company has over 30 years of property management experience, managing over 15,000 residential apartments in 18 states and 1,500 units in 19 developments in Rhode Island.

“This development will allow Omni to continue our work in the neighborhood, which was a primary focus of Joseph A. Caffey, who served as Executive Director for 24 years,” said Sharon Morris, Executive Director of Omni Development Corporation. “Omni is an experienced developer and has transformed some of the city’s poorest neighborhoods, replacing vacant lots and abandoned properties with high-quality, safe and affordable housing. Like myself, Joe was committed to the community.  Barbara Jordan II is an exciting opportunity for Omni Development Corporation and Wingate Companies.  We look forward to transforming the neighborhood and enhancing the quality of life for the residents of South Providence.”

The redevelop effort represents a significant investment in the community and its residents. More information on the development and the community engagement process can be found here: https://www.rihousing.com/barbarajordan2/.

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December 23, 2019

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Funding Awards will Support the Development of Zero Net Energy Housing for Rhode Islanders

Multi-agency investment will create replicable models for sustainability

Providence, RI – RIHousing and the Rhode Island Office of Energy Resources (OER) announced today the award of funds to develop highly energy efficient housing for low- and moderate-income Rhode Islanders. The pilot program, Zero Energy for the Ocean State (ZEOS), is the result of a public-private partnership between RIHousing, OER and National Grid to explore innovative, replicable solutions to utilize cost saving, clean energy technologies in homes.

“RIHousing is committed to developing housing that Rhode Islanders can afford,” said Carol Ventura, Executive Director at RIHousing. “Energy efficient features in these homes will result in reduced occupancy costs for residents, thereby increasing their disposable income to meet other needs in their lives.”

RIHousing and OER have committed a total of $675,000 in funding to three developers who will produce a range of building types in rural, suburban and urban parts of the state.

All three recipients of ZEOS Demonstration funds will develop stock plans to ensure replicability of their zero energy designs. The projects are:

• Caldwell & Johnson: to construct a single-story duplex rental for seniors 55+ in North Kingstown. The development includes two, one-bedroom, one-bath units. Caldwell & Johnson has built this model previously and are committed to providing much needed affordable housing for seniors in the North Kingstown area.
• Church Community Housing Corporation (CCHC): to construct eight, single-family homes in Jamestown and Aquidneck Island. Seven of the homes will be new construction and one includes the rehabilitation of an existing building. CCHC will also develop a building manual that will be easily replicable by small homebuilders.
• One Neighborhood Builders: to construct five, small single-family, solar-powered homes in the Olneyville neighborhood of Providence. Homes will be constructed as part of a training program with Providence-based, non-profit Building Futures and in partnership with the Rhode Island School of Design and the City of Providence.

“Expanding access to cost-effective energy efficiency measures is vital to Rhode Island’s clean energy future,” said State Energy Commissioner Carol Grant. “The state has made great strides to expand our energy efficiency programs to more people. The ZEOS program is one more way we are working to support renewable and green energy efforts.”

Developers will design and construct affordable, Zero Energy Buildings (ZEBs).  ZEBs are defined as any energy-efficient building with zero net energy consumption, meaning the total amount of energy used by a building on an annual basis is roughly equal to the amount of renewable energy created on the site.

In addition to meeting ZEB standards, developers must also participate in National Grid’s Residential New Construction Program (www.ngrid.com/save) and will work closely with program partners throughout the design, construction, and data collection phases.

“We’re excited with the level of innovation and commitment to energy efficient projects in the funding applications received,” said Chris Porter, Director of Customer Energy Management at National Grid. “Applicants will deploy a range of methods, including new and emerging technologies, thoughtful design, and sustainable building materials to meet program goals while creating a pathway for scaling ZEBs in low- and moderate-income residential sectors as a means of reducing greenhouse gas emissions.”

Funding awards were announced at the December meeting of the RIHousing Board of Commissioners. A Request for Proposals (RFP) was released in July 2019 with initial funding of $250,000 available. In response to the strength of applications, the RIHousing Board of Commissioners approved an additional $375,000 to fully support the three projects.

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

About the Rhode Island Office of Energy Resources

The Office of Energy Resources (OER) is Rhode Island’s lead state agency on energy policy and programs. The mission of OER is to lead Rhode Island to a secure, cost-effective, and sustainable energy future. OER works closely with private and public stakeholders to increase the reliability and security of our energy supply, reduce energy costs and mitigate price volatility, and improve environmental quality.

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FOR IMMEDIATE RELEASE
September 26, 2019

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RIHousing Issues Inaugural Sustainability Bonds to Support Affordable Housing

_Almost 700 apartments to include energy efficient and sustainable building features _

Providence, RI – RIHousing announced the issuance of $73.6 million of new bonds, the first ‘Sustainability Bonds’ to be offered by the agency. The sale of the bonds will fund the acquisition and rehabilitation of 752 rental homes for low and moderate-income Rhode Islanders.

“Rhode Island is leading in the fight against climate change. Here in the Ocean State, we’re committed to reducing our energy consumption and protecting our natural resources,” said Stefan Pryor, Rhode Island Secretary of Commerce. “I applaud RIHousing for utilizing all available tools to increase investments in affordable housing while reducing our carbon footprint and providing meaningful savings for residents.”

RIHousing will disburse the bond proceeds and has already identified housing developments that will utilize the funding to incorporate green and energy efficient building practices into rental properties. Multi-family developments are located in Newport (Harbor House), North Providence (Centredale Manor and Mineral Spring Gardens), Pawtucket (Prospect Heights III) and Woonsocket (Trio Partners). The majority of units are required to serve extremely low income households with incomes at or below 30% of AMI (or $24,250 for a family of four). Units at four of the developments (Harbor House, Mineral Spring Gardens, Trio Partners, and Centredale Manor) are expected to be occupied exclusively by elderly or disabled tenants or tenants of age 62 or older.

“Building upon the growing interest in socially responsible investments, these bonds will enable RIHousing to maximize funding for affordable housing while ensuring these rental homes are energy efficient, safe and healthy,” said Nicolas P. Retsinas, Chairman of the RIHousing Board of Commissioners. “Offering these bonds as ‘Sustainability Bonds’ allows investors to invest directly in bonds that finance affordable housing in Rhode Island, promote environmental benefits, stimulate economic growth, and revitalize local communities.”

Sustainability Bonds can reduce energy costs and reliance on fossil fuels while creating good homes and well-paying jobs in the construction industry. They are an important opportunity for investors seeking to make socially impactful investments and critical for attracting funding to communities to benefit some of the most vulnerable Rhode Islanders.

“RIHousing has a deep commitment to sustainability, green building technologies and energy efficiency to help preserve and protect natural resources while also reducing housing costs for residents,” said Carol Ventura, Executive Director of RIHousing. “RIHousing values and promotes healthy, durable, high quality, affordable construction, and ultimately, the cost-effective combination of sustainable building processes and affordable housing construction.”

Selected developments will undergo rehabilitation to incorporate one or more energy efficiency standards and features. These standards are designed to ensure that the housing units are economical, comfortable, durable, healthy, energy efficient and attractive. Work may include the installation of energy efficient windows, LED lighting and Energy Star appliances, upgraded unit and common area ventilation and exhaust, Virtual Net Metering to offset 100% of a building’s electric costs and water conservation features.

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

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September 23, 2019

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Ribbons Cut on New Affordable Apartments in Barrington

_Partners and elected officials gather to celebrate the completion of __46 new rental homes _

Providence, RI – Congressman David Cicilline recently joined state and local officials, representatives of RIHousing, East Bay Community Development Corporation (EBCDC), and funding and community partners to celebrate the completion of new rental homes in Barrington.

Known as Palmer Pointe, the development includes 46 affordable apartments at two locations: 40 apartments on the Sowams Road site (former home of Sowams Nursery) and six units on three vacant lots at the Sweetbriar development on Washington Street in West Barrington. Both sites feature homes designed using traditional building styles along roads lined with sidewalks. Parking is situated beside or behind buildings to help strengthen the pedestrian network of the community.

“Important projects like Palmer Pointe are made possible when organizations like EBCDC and RIHousing work with elected officials at the local, state, and federal level to give folks the tools they need to get ahead,” said Congressman David N. Cicilline. “I commend both EBCDC and RIHousing for their continued efforts to provide hardworking families with high-quality, affordable housing and their tireless dedication to making our state a better place to call home.”

Initiatives like Palmer Pointe are integral to solving Rhode Island’s affordable housing crisis and providing well-paying jobs while creating vibrant communities with good homes. Whether living in an urban, suburban or rural setting, Rhode Islanders need rental options that they can afford, and in communities where they want to live.

“I am excited to welcome our newest Barrington residents,” said Michael Carroll, Barrington Town Council President. “They will find that they’ve moved to a very welcoming place. We’ve learned that developments like Palmer Pointe enrich our community in many ways.”

The six units at the Sweetbriar site complement the 47 affordable apartments previously completed by EBCDC in 2011. Originally envisioned as homeownership units, due to changes in the economy it was more financially feasible to continue with rental apartments using existing infrastructure, and the new buildings were able to be constructed quickly.

“The Palmer Pointe project is the latest demonstration of the EBCDC’s commitment to the communities we serve,” said Diane Mederos, Executive Director of the East Bay Community Development Corporation. “We take pride in the homes we’ve developed and in creating communities where families can thrive.”

The creation of new homes at Palmer Pointe supported 83 jobs, 58 of which were in the construction trades. Funding for Palmer Pointe came from a variety of funding sources, including a construction loan and mortgage from RIHousing, $1 million in HOME Program funding, $9.7 million in Low-Income Housing Tax Credit (LIHTC) equity, $2.2 million from Building Homes Rhode Island (BHRI) state bond funding and a $250,000 Community Development Block Grant (CDBG).

Anne Nolan, Chair of the Rhode Island Housing Resources Commission (HRC), spoke at the event, representing the BHRI and CDBG investments in the development.

“The need and demand for affordable family housing is strong in Barrington, where only 7% of the town’s housing stock is multifamily,” said Carol Ventura, Interim Executive Director of RIHousing. “Palmer Pointe provides much needed affordable homes in a highly desirable community with only limited affordable apartment options.”

Palmer Pointe completes the Sweetbriar development on Washington Street and adds new homes on the former nursery site on Sowams Road, which reflect the architectural character of the surrounding community and maintain the scale of a single-family neighborhood. The landscaping includes common greens and shared space to create a strong sense of community for families.

“Red Stone Equity Partners congratulates our partner East Bay Community Development Corporation (EBCDC) on the completion of Palmer Pointe, our second affordable housing collaboration with EBCDC. We are pleased to provide over $9 million of tax credit equity for the newly constructed affordable housing development in the City of Barrington,” said Rob Vest, Managing Director of Acquisitions for Red Stone Equity Partners. “This project provides 46 units of affordable housing to local families and continues our commitment to being a part of affordable housing solutions in Rhode Island and across the nation.”

Apartments will be affordable to families earning less than 60% of the Area Median Income (AMI), $49,140 for a family of four.

The event also included a dedication of the new road at Palmer Point in honor of Coach Frank Murgo, who passed away in January 2019 at age 95. A long-time Barrington resident, Coach Murgo was the former coach of the Peck Junior High School basketball team and coached football in Barrington for many years. In 2017, the Barrington High School gym was named after him. Members of the Murgo family were in attendance at the dedication ceremony.

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

About East Bay Community Development Corporation (EBCDC)

It is the mission of the East Bay Community Development Corp to preserve the quality of family and community life in the East Bay by insuring that a full range of safe, attractive and affordable housing opportunities are available to meet the needs of all our residents.

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September 4, 2019

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Partners celebrate completion of new homes in Charlestown

Shannock Falls offers 43 affordable apartments adjacent to historic Shannock Village

Providence, RI –

State and local officials joined with representatives of RIHousing, Women’s Development Corporation (WDC), Washington County Community Development Corporation (WCCDC), and funding and community partners to celebrate the completion of new rental homes in Charlestown.

The 43-unit affordable apartment development known as Shannock Falls is comprised of two separate sites in Charlestown and Richmond. The Charlestown site features 11 apartments in four buildings, with 32 units at the Richmond location. Located along the banks of the Pawcatuck River, the design of the new buildings is consistent with the historic architectural detailing of the surrounding area.

“Housing development is an integral component of economic development, and these 43 new units represent 43 new opportunities for families and individuals to prosper in Rhode Island,” said Rhode Island Commerce Secretary Stefan Pryor. “This impressive development adds to our growing portfolio of new housing. We’re glad that Governor Raimondo’s $40 million housing bond is helping to support the development of new affordable housing such as Shannock Falls. Congratulations to all involved in the project.”

The Shannock Falls development has an expected total development cost of approximately $15.6 million, will support 77 jobs (54 in construction) and create affordable apartments in a region with limited affordable rental homes. The project directly supports both the Charlestown and Richmond Affordable Housing Plans and addresses both towns’ need for additional affordable rental units.

“Communities throughout rural Rhode Island are in great need of affordable housing, particularly for families. We are very pleased that Shannock Falls will provide high-quality housing for the people of Richmond and Charlestown,” said James Comer, Executive Director, WDC.

Financing for Shannock Falls includes a variety of federal and local resources, including $11.8 million in Low-Income Housing Tax Credit (LIHTC) equity, $500,000 in federal HOME funding, $2.1 million in Building Homes Rhode Island state bond funding and $325,000 in town bonds. The balance of the capital stack includes a first mortgage from RIHousing and a Seller Loan.

“We’re excited and proud of our partnership with WDC and RIHousing to bring this project to fruition,” said Alice Buckley, Executive Director, WCCDC. “Efforts such as Shannock Falls rely on

the support and commitment of a range of partners and variety of funding sources. We’re excited to welcome new families and watch them grow and thrive.”

The Charlestown property stands on a 7-acre site (3 acres of which will remain undeveloped) less than a mile from the Richmond site, across from the Pawcatuck River. Construction at the Richmond site is ongoing and is expected to be completed by the summer of 2020. The Richmond buildings stand on a 64-acre site, 56 acres of which have been placed in a permanent conservation area. Currently under construction, the property will feature a community building containing a maintenance garage, community room, laundry facilities, mailboxes and a property management office.

“It is rewarding to be able to provide affordable homes that are well constructed and designed and that are affordable to families in a time of rising housing costs,” said Virginia Lee, Charlestown Town Council President.

“The project has been 14 years in the making,” said Rich Nassaney, Richmond Town Council President. “But this is only the beginning. I see a great future for families and this community moving forward.”

Single-family homes dominate the southern region of the state —with only about a quarter of its stock being multifamily housing. The projected housing need, according to the 2016 Projecting Future Housing Needs report, is for significantly more multifamily stock than single-family homes. In addition to the limited supply of rental homes, 53% of renters in the region are considered cost burdened, or pay more than 30% of their income toward housing costs.

“Shannock Falls provides people the opportunity to afford high-quality housing in the area they grew up in or may be coming back to,” said Carol Ventura, Interim Executive Director, RIHousing. “We’re excited to welcome families into their new homes and look forward to the completion of new homes at the Richmond location in the near future.”

The need and demand for affordable family housing is strong in these two communities. All units will be available to households earning less than 60% of the area median income (AMI), or $49,700 for a family of four. Apartments at the Charlestown site are leasing up now and applications for both sites are still being accepted.

About RIHousing

RIHousing works to ensure that all people who live in Rhode Island can afford a healthy, attractive home that meets their needs. RIHousing provides loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a self-sustaining corporation and receives no state funding for operations. For more information regarding RIHousing, visit www.RIHousing.com or follow us @RIHousing on Facebook and Twitter.

About Women’s Development Corporation

Women’s Development Corporation (“WDC”) is a non-profit corporation founded in 1979. Their mission is “to design, develop, preserve and manage affordable housing for families, elderly and persons with special needs.” They have developed nearly 2,000 apartments over the past 30 years and have won awards for energy efficiency and minority participation. While they concentrate primarily on rental housing, they have also developed some homeownership for low and moderate-income families.

About Washington County Community Development Corporation

Washington County Community Development Corporation (WCCDC) is a nonprofit 501©3 corporation established in 2005, to provide low/moderate income residents of Rhode Island with decent, affordable housing in Washington County. WCCDC has developed 78 affordable housing units, manages the Community Development Block Grant Programs for 9 towns in Washington County and is an active member of the Housing Network of Rhode Island.

New York, September 09, 2016 – Issue: Homeownership Opportunity Bonds, Series 68-A (Non-AMT); Rating: Aa2; Rating Type: Underlying LT; Sale Amount: $3,375,000; Expected Sale Date: 09/12/2016; Rating Description: Mortgage: Single-Family: Whole Loans