By Wheeler Cowperthwaite, TheProvidence Journal
RI Housing will loan these housing projects $185M. Here's where it's going
Of the 869 units being financed, 470 will be new and 399 will be renovations
"PROVIDENCE − The R.I. Housing Board voted to issue $185 million in bonds last week to cover low-interest loans for 11 income-restricted housing projects, which will total 869 units.
RI Housing will issue the $185 million over two bonds. The first will be for $88 million, with prices expected to be reported later this month, and the remainder issued by the end of this year or the beginning of 2025."
The POAH properties include:
Hillside Village, Providence: $11 million to be loaned for the renovation of 42 units at the three-building apartment complex in the Silver Lake, near the Pocasset Manor complex.
Pocasset Manor, Providence: $15 million to be loaned for the renovation of 82 units in the 11-story senior housing complex in Silver Lake.
Hillcrest Village, Providence: $23.5 million to be loaned for the renovation of 130 units at the 6-story 130-unit housing complex built in 1979 in Mount Pleasant, at 40 Leander St. Renovations will include new kitchen cabinets and countertops, updated lighting, new doors, a new roof, wireless internet access and upgrades to the Americans with Disabilities Act units.
Read the full article here: Affordable housing projects in RI will get $185M in loans (providencejournal.com)