By Katie Castellani Published June 28, 2024
PROVIDENCE – State and local leaders gathered Friday to break ground on ONE Neighborhood Builders’ affordable housing development in Federal Hill.
The project, dubbed The Avenue, is ONE Neighborhood Builders largest housing development yet with 85 affordable housing units and a more than $32 million investment. The project will combine 39 newly constructed apartments at 434 Atwells Avenue and the preservation and “re-syndication” of 46 affordable apartments, previously known as Elmwood Neighborhood Revitalization II, throughout 13 buildings in the Elmwood neighborhood.
“This crowd requires no convincing that Rhode Island needs to ramp up its housing supply. At the same time ensure existing housing stock is preserved – especially the affordable housing stock,” said Jennifer Hawkins, president and CEO of ONE Neighborhood Builders. “This development combined these two important goals.”
All of the units will be for low-income households with 25% reserved for extremely low-income households.
[…]Speakers at the groundbreaking praised the project as necessary to boosting and preserving the state’s affordable housing stock, but emphasized more needs to be done.
“This project behind me is exactly what we need: a collaborative effort by everybody and an all hands on deck approach…” House Speaker Joseph K. Shekarchi said.
Read the full article in the Providence Business News, here
