PROVIDENCE – The city is funneling $8.5 million into a new program to buy and redevelop vacant land into affordable housing.
City officials and housing organization leaders announced the new Providence Neighborhood Land Bank program in a press briefing Thursday, simultaneously putting out a call for help finding eligible land and property. The $8.5 million program, funded through the city’s American Rescue Plan Act dollars by way of the Providence Housing Trust, seeks to revitalize chronically vacant and “underused” properties with affordable housing.
The Providence Redevelopment Agency will administer the program, acquiring properties and helping redevelop them through a public bidding process. The quasi-public agency’s involvement also helps eliminate barriers to development such as pre-development costs and site control, according to a statement from the city. The agency will also offer pre-approved, fully permitted home design plans form local architects for eligible developers to apply to the vacant lots.
Community members can submit suggestions for eligible properties to be considered for the program by emailing landbank@providenceri.gov.
Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.