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: 13
- Affordability: 80% AMI
- Construction Status: Complete
| Sources | Amount |
|---|---|
| Affordable Housing Trust | $578,397 |
| Building Homes Rhode Island | $1,386,118 |
| FHLB Affordable Housing Program | $295,000 |
| DAH-1* | $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