Rhode Island Affordable Development Activities 

Residences at Riverside Square

East Providence

Developer: ONE Neighborhood Builders

  • Anticipated Completion Date: Q1 2024
  • Total Units: 16 units
  • Total Affordable Units: 16 units
  • Affordability: 30% – 80% AMI

 

  • Construction Status: 85% completed

Funding Sources and Amount:

Sources Amount
RIHousing First Mortgage $700,000
HOME Program $1,885,000
Housing Trust Fund (“HTF”) $515,000
Building Homes Rhode Island (“BHRI”) $1,676,000
State Fiscal Recovery Fund (“SFRF”) $1,012,441

Total Development Cost: $5,813,44

SFRF Funds Expended To-Date: $1,012,441

Riverside Square under construction, February 2024
Riverside Square under construction, February 2024

Site visit: 02.09.2024