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Home›Investment›McKee unveils $80 million affordable housing investment

McKee unveils $80 million affordable housing investment

By Megan
June 16, 2022
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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.


Priced out: RI renters struggle with soaring prices, tight supply

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.


Finding Home: Help available to housing-challenged Rhode Islanders

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.


NEXT: RI car tax to be eliminated in new $13 billion budget

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