Rhode Island Affordable Development Activities
Ade Bethune House
Portsmouth
Developer: Church Community Housing Corporation (CCHC)
- Anticipated Completion Date: Q3 2026
- Total Units: 54
- Total Affordable Units: 54
- Affordability: 30 – 80% AMI
- Construction Status: 97% complete
Funding Sources and Amount:
| Sources | Amount |
|---|---|
| RIH First Mortgage | $2,930,000 |
| Capital Magnet Fund | $200,000 |
| Community Development Block Grant | $750,000 |
| DAH-2* | $7,021,481 |
| Deferred Development Fee | $478,061 |
| FHLB Affordable Housing Program | $850,000 |
| General Partner Capital | $100 |
| HOME | $1,000,000 |
| Housing Trust Fund | $1,000,000 |
| LIHTC Proceeds | $11,063,502 |
| Renewable Energy Fund Grant | $42,048 |
| Sponsor Loan | $625,000 |
Total Development Cost: $25,960,192
RIHousing-administered SFRF Funds Expended: $7,021,481
*Sources funded by the State Fiscal Recovery Funds (“SFRF”).
