Raimondo Says Rebuild Program Has Created 11K Jobs at River House Unveiling

Friday, June 21, 2019

GoLocalProv Business Team

Governor Gina Raimondo and Commerce Secretary Stefan Pryor used the unveiling of the new River House apartments in Providence as an opportunity to highlight the success of the Rebuild RI program and to make a last pitch to the Rhode Island General Assembly to restore the cut to the Governor’s funding request for the program.

Raimondo’s budget request was trimmed by about $50 million in the House Finance Committee budget.

“Under Rebuild, building trades unemployment has been reduced from 25% to 2%,” said Raimondo at the ceremony Thursday for the new 174 unit apartment complex looking over the Providence River and adjacent to Davol Square.

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Raimondo also said that Rhode Island's unemployment is now the lowest it has been in three decades.

GMH Capital Partners and Wexford Science & Technology were the developers of the project. 

River House contains studio, one bedroom, and two bedroom units designed primarily for graduate, medical and undergraduate students. The building also includes approximately 4,200 square feet of ground-floor retail space. Rents average $2,000 per month.

Pryor in his remarks said that the 40 projects across the state that have received Rebuild funding triggering $2 billion in total investment. "The program is working," said Pryor.

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