McKee unveils $80 million affordable housing investment

EAST PROVIDENCE, R.I. (WPRI) — The state of Rhode Island plans to invest $80 million in 17 different affordable housing developments.
Gov. Dan McKee announced Thursday a plan to create 875 homes, 800 of which will be affordable.
The developments will use state and federal resources, including $15 million from McKee’s RI Rebounds Initiative and $10 million from the Housing Production Fund.
R.I. Secretary of Housing Josh Solas said rents have increased, making people choose between housing and medical bills.
McKee joined RIHousing and local officials at the East Providence City Hall, which is next to a vacant lot that will become housing through this funding. The Ivy Street development will include 10 units reserved for households earning at or below 80% of the area median income.
“Historically, Rhode Island has underinvested in housing, we’re changing that,” McKee said.
Funding was awarded to urban, suburban and rural developments:
- Bear Hill Village, Cumberland
- Bernon Mill, Woonsocket
- Bourne Mill III, Tiverton
- Copley Chambers, Providence
- Fifty Washington Square, Newport
- Frenchtown I and Frenchtown II, East Greenwich
- Ivy Place, East Providence
- Looking Upwards Apartments, Jamestown
- Parcel 9, Providence
- Park Holm IV, Newport
- Residences at Riverside Square, East Providence
- Riverside Landing, Coventry
- Summer Street Phase I, Providence
- Sutton Place, East Providence
- The Millrace District, Woonsocket
- Villages at Manville, Lincoln
- West House II, Middletown
McKee expects the developments will support 1,200 jobs and take several years to complete.
The governor previously directed a quarter-billion dollars in his budget for affordable housing.
“We’re going to use that $250 million to leverage at least a billion dollars in housing in the state of Rhode Island,” McKee said. “We know for Rhode Island to be an attractive place to live and work and raise a family we must address availability for quality housing.”
Visit the state’s website for the full details on each project.