Home Economy Government Building affordable housing units proving expensive

Building affordable housing units proving expensive

THE RHODE ISLAND PUBLIC EXPENDITURE COUNCIL says 21 of 24 affordable housing projects that received State Fiscal Recovery Funds have experienced cost increases as they moved from preliminary financing to firm financing. Among the affordable projects underway is the Copley Chambers II project on Broad Street in Providence. / COURTESY PROVIDENCE HOUSING AUTHORITY

In May 2023, Gov. Daniel J. McKee and other state officials issued a press release touting a $101 million investment of State Fiscal Recovery Funds to create 1,481 affordable housing units. They undershot the mark. According to a recent analysis by the Rhode Island Public Expenditure Council, significant cost overruns are challenging 21 of the

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