A before-and-after architect’s rendering of the Residences at Riverside Square.
By Tim Norton
Providence Business News
EAST PROVIDENCE – The R.I. Housing and Mortgage Finance Corp. has approved $1 million in funding for ONE Neighborhood Builders’ construction of new affordable rental apartments on Bullocks Point Avenue called the Residences at Riverside Square.
The R.I. Housing board of commissioners approved a $1 million RI Rebounds Production Fund Program award for the project on June 16. The multi-story development will be built along the East Bay Bike Path at 336 Bullocks Point Ave., a long-vacant and blighted brownfield site that used to house the factory for former jewelry manufacturer Vamco.
“This funding is crucial so that we can redevelop long-vacant, blighted property into high-quality and affordable apartments that help us address the severe housing crisis in Rhode Island,” Jennifer Hawkins, executive director of ONE Neighborhood Builders, said in a statement.