By Mary MacDonald
Published April 15, 2021, 10:20 p.m.
Noticias empresariales de Providence
Caption: A DESIGN RENDERING of the two-building Sutton Place apartment development in East Providence, which will be renovated and deed-restricted to be leased at affordable rates. / COURTESY ED WOJCIK ARCHITECT LTD.
EAST PROVIDENCE – ONE Neighborhood Builders, a Providence-based community development nonprofit, has purchased a 36-unit apartment complex in East Providence for $3.3 million, the organization announced recently.
It plans to renovate the units and create deed-restricted affordable housing at the site, called Sutton Place.
The property at 54 and 60 Sutton Ave. in East Providence consists of two identical buildings. The renovation and deed restriction will allow the city of East Providence to become the seventh of Rhode Island’s 39 communities to meet a state goal to have 10% of the housing stock leased at affordable rates for low- to moderate-income households.