Research & Reporting > State Fiscal Recovery Funds Dashboard > Ralph R aRusso Manor
Last Updated: 10.18.2024
Rhode Island Affordable Development Activities
Ralph R aRusso Manor
Johnston
Developer: Rosemont Associates, Inc.
- Anticipated Completion Date: Q1 2025
- Total Units: 22
- Total Affordable Units: 22
- Affordability: 50% AMI
- Construction Status: 41% complete
Funding Sources and Amount:
| Source | Amount |
| RIH First Mortgage | $650,000 |
| Capital Magnet Fund | $400,000 |
| DAH-2* | $2,100,000 |
| Preservation Loan Fund Program | $660,000 |
| Assumed Debt (Rollover) | $237,166 |
| Existing Reserves | $46,234 |
Total Development Cost: $4,093,400
SFRF Funds Expended: $351,910.71
* Sources funded by the State Fiscal Recovery Funds (“SFRF”).
