Research & Reporting > State Fiscal Recovery Funds Dashboard > Ivy Place
Last Updated: 07.17.2024
Rhode Island Affordable Development Activities
Ivy Place Neighborhood Revitalization Initiative (“Ivy Place”)
East Providence
Developer: NeighborWorks Blackstone River Valley
- Anticipated Completion Date: Q3 2024
- Total Units: 13 units – Homeownership
- Total Affordable Units: 10
- Affordability: 80% AMI
- Construction Status: 97% completed
Sources | Amount |
Affordable Housing Trust | $578,397 |
Building Homes Rhode Island | $1,386,118 |
FHLB Affordable Housing Program | $295,000 |
State Fiscal Recovery Fund (“SFRF”) | $540,000 |
East Providence Waterfront | $743,000 |
Sales Proceeds | $2,788,175 |
Total Development Cost: $6,360,690
SFRF Funds Expended To-Date: $540,000
![Ivy Place Rendering architectural rendering of affordable apartments](https://www.rihousing.com/wp-content/uploads/Ivy-Place-Rendering.jpg)
![Ivy Place 2024.03.01 Development under construction](https://www.rihousing.com/wp-content/uploads/Ivy-Place-6.25.24.jpg)
Site visit: 06.25.2024