$15 Million Apartment Projects Approved for Providence’s South Side
Saturday, January 04, 2020
SWAP (Stop Wasting Abandoned Property) announced that it has won approval of $15.5 million to fund the renovation of 76 apartments and construction of two new broad street buildings.
“Affordable apartments have been identified as the most critical housing need, in Rhode Island, and across the country. This funding will allow us to renovate, upgrade and build apartments while also enhancing the growing Broad Street commercial corridor,” said Carla DeStefano, SWAP Executive Director.
The project comes as SWAP begins the celebration of its 45th Anniversary of building homes and transforming neighborhoods.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTConstruction on both projects is expected to begin February 1, 2020.
The Project
The project, called The Composition, includes preservation of 76 family apartments in the historic Pine Street District in Upper South Providence and the construction of 2 mixed-use buildings on Broad Street that will include 8 apartments, retail/commercial spaces and a community room.
The existing Pine Street apartments were built and renovated 18 years ago.
The new project will install new energy-efficient heating and mechanical systems, new roofs and apartments fully renovated.
The two new Broad Street buildings will be constructed on a blighted and vacant lot previously owned by the Providence Redevelopment Authority.
The buildings will continue to add to the mixed-use residential and commercial SWAP buildings on the South Side.
Related Articles
- RI Housing Market Reaches Long-Awaited Equilibrium
- RI Housing Market Showed Signs of Solid Economic Recovery in 2013
- NEW: RI Housing Receives $180,000 for Family Self Sufficiency Aid
- NEW: RI Housing Receives Funds To Aid Foreclosure Prevention
- NEW: RI Housing Prices on the Rise
- RI Housing Market Has Room for Improvement
- NEW: RI Housing Sales Up in July
- NEW: RI Housing Names Nelson Estevez Realtor of the Quarter
- NEW: RI Housing Launches First Time Homeowner Tax Credit
- RI Housing’s Fields on $3.8M Approved for Urban Revitalization on LIVE
- RI Housing Prices Up in August — Now Average Single Family $275,250
- Lawsuit Filed — Charges of “Uninhabitable Squalor” at RI Housing Project
- LIVE: DARE Calls on RI Housing to Make Greater Effort to Address Affordable Housing
- RI Housing Market on Pace to Break Single Family Home Sales Record
- NEW: RI Housing Executive Director Godfrey to Retire
- RI Housing Market Sees 9,782 Homes Sold, Highest Since 2004
- RI Housing Market Sales Up 24% Year Over Year in Rhode Island for February
- Beverly Hills Firm That Owns Hundreds of “Distressed” Units Paid Millions By RI Housing
