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Parcel 9 Groundbreaking, Providence
July 27, 2023 @ 10:00 am - 12:00 pm
Developer: Pennrose
Funding: Parcel 9 I & II is a new construction, mixed-use, mixed-income development on a vacant parcel at the edge of the Fox Point neighborhood in Providence. The project is a “twinning” deal that will include both a 4% and a 9% LIHTC partnership. The projects will be completed simultaneously as all the new units are in a single building.
The condominium style building will provide a total of 66 units. Collectively the development will provide 44 units for households up to 60% of area median income, 22 market rate units and a childcare facility. Pennrose has been awarded eight project-based vouchers from the Providence Housing Authority and six HUD Section 811 vouchers from RIHousing.
Pennrose has partnered with Children’s Friend and Service to operate a head start day childcare facility on the building’s first floor that will be funded separately.
