EAST PROVIDENCE — ONE Neighborhood Builders, the non-profit housing and community developer, broke ground on its latest endeavor in East Providence Monday, April 10, the new “Residences at Riverside Square” apartment complex.
Once complete, this development will include 16 one- and two-bedroom apartments on Bullocks Point Avenue, including three units that will be set aside to provide housing for youth transitioning out of foster care through a partnership with Foster Forward. The development is scheduled to be completed in early 2024.
ONE Neighborhood Builders acquired the long-vacant VAMCO property two years ago. The development required a clean up of the contaminated parcel. The organization secured $1 million through RIHousing’s “RI Rebound Award” fund program for this development.
“We are extremely proud of all the hard work that is being done to help bring the Residences at Riverside Square to life,” said Jennifer Hawkins, ONE Neighborhood Builders President and Executive Director. “This groundbreaking is a signal that we can do big things when we work together.
“While this project on its own won’t solve the state’s housing crisis, it is an example of the kinds of projects, at scale, that can. Through continued support and collaboration, ONE Neighborhood Builders looks forward to continuing the development of affordable housing, which is at the heart of creating sustainable and equitable neighborhoods.”
The Residences at Riverside Square will provide individuals and families with a modern apartment that has easy access to public transportation and the East Bay Bike Path.
The apartments are designated for extremely low-income to moderate- income households, which includes individuals earning between 30 percent and 80 percent of the Area Median Income (AMI), which is an annual income of approximately $20,000 to $70,000, depending upon household size.
In addition, three of the apartments will be reserved for youth aging out of foster care, who often face challenges in finding and securing housing, among other barriers.
The work to house those young adults will be done in partnership with Foster Forward, the state’s leading foster care service organization.
