Welcome back to RIHousing’s new quarterly newsletter, where you’ll get investment and policy updates, development highlights, and real stories from our customers and clients.
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We recently closed a second round of Requests for Proposals for funding for housing development activities — and we received over 20 applications across 11 municipalities. With $163 million in funding requested but only $41 million to award, this additional round shows the demand out there for assistance in building and preserving homes for Rhode Islanders. We’re hard at work reviewing the applications and look forward to making the awards soon.
In the meantime, I recently had the opportunity to sit on a panel during the Annie E. Casey Foundation Board meeting, joining partners to discuss our success in administering our federal Foster Youth to Independence and Family Unification Program housing vouchers. RIHousing has received national recognition for our work in preparing for and deploying these vouchers, which support youth impacted by foster care – and we are excited and proud to share that we have applied for 10 more FYI vouchers that we expect to be coming soon to help Rhode Island youth.
– Carol Ventura, Executive Director of RIHousing
We spent the month:
Sharing practical homebuying and homeowner tips
“Homeownership means that I have the stability to establish roots in my community and the freedom to decorate and rearrange exactly how I want to.”
Early this year, Emma purchased her first home – a Fox Point condo. An environmental scientist focused on our drinking water, Emma’s choice of property was all about location. The condo popped up early in her search and she knew immediately it was the one; close to work, friends, and in the middle of a familiar, vibrant community.
When it came to the mortgage, Emma’s friend made a recommendation: RIHousing! The friend had just purchased a home herself with us.
Emma completed our free virtual homebuyer education class, led by our in-house experts, and then connected with one of our loan officers. She qualified for the 15kDPA program, our $15,000 zero-interest loan that assists with down payment and closing costs. It was just three months from house hunting to her closing.
The most surprising part of the process for Emma was the support available for a young, solo first-time homebuyer. She hadn’t known about RIHousing before this experience – but now she says she’d tell any first-time buyer that it’s worth a shot to get in touch and see what kind of support you can access.
What’s next for Emma? Finishing her master’s degree — and hopefully paying off her mortgage early!
LeadSafe Homes fundingKeeping families healthy and safe: With a new $7.7m HUD grant running through early 2030, our LeadSafe Homes Program will continue to provide funds and support to property owners to address lead and other hazards in their rental units. Senator Jack Reed, a longtime advocate of the program, contributed:
Vouchers for veteransFive more housing vouchers: RIHousing recently received an additional five Veterans Affairs Supportive Housing (VASH) vouchers, adding to the 25 we’re already administering. The vouchers assist qualified veterans and their families in securing and maintaining stable housing.
New Board memberWelcome: Dave Caldwell, President of Caldwell & Johnson Custom Builders, is the newest member of the RIHousing Board of Commissioners.
Development updates Cobble Hill Crossing Condos | Lincoln: Cobble Hill can start construction on nine three-bedroom condos (part of a larger development) priced for households earning 100% to 120% of the Area Median Income. The project is using the last of RIHousing’s Middle Income Loan Program funds.
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The Flynn brings 178 new affordable homes to Providence in a dynamic, modern building. Learn more>
| June 5 | Penny Lane Groundbreaking |
| June 8 | The Flynn Ribbon Cutting |
| July 27 | Fernwood IV Ribbon Cutting |
Around Rhode IslandThe final 2025 Low- and Moderate-Income Housing Chart is live. Check out each municipality’s progress here
What We’re ReadingNew York Times: The Return for These Investors Isn’t Money, It’s More Affordable Housing
Rhode Island Housing Subsidiary Corporations
Rhode Island Housing Affiliates
These are not RIHousing entities, but we have a general partner capacity in each:
RIHousing strives to ensure that all people who live or work in Rhode Island can afford a healthy, attractive home that meets their needs. A good home provides the foundation upon which individuals and families thrive, children learn and grow, and communities prosper.
To achieve our mission we:
RIHousing uses all of its resources to provide low-interest loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, RIHousing is a privately funded public purpose corporation.
Check whether your current residence is located within an eligible census tract.
Only residents of census tract 405 are eligible for the FirstGenHomeRI pilot program.
The map on the left shows the approximated eligible region.
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Check whether your current residence is located within an eligible census tract for application prioritization.
Applications from residents who live in the census tract listed below are prioritized.
| Central Falls | 44007010900, 44007010800, 44007011100, 44007011000 |
| Pawtucket | 44007016000, 44007015300, 44007015100, 44007015200, 44007015500, 44007016600, 44007016700, 44007017000, 44007017100, 44007016100, 44007016400 |
| Newport | 44005040500, 44005041100 |
| East Providence | 44007010100, 44007010501 |
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