EAST PROVIDENCE – ONE Neighborhood Builders is already moving forward on the next stage of its Center City Apartments project following the Dec. 8 groundbreaking for Phase 1 construction.
Kyle McKendall, vice president of resource development and communications, said ONB is now finalizing its submission to R.I. Housing’s annual Consolidated Funding Round that is due Dec. 18. The nonprofit is seeking support from several sources for Phase 2 of the project, including the 2026 round of Low-Income Housing Tax Credits.
“We currently do not have any funding commitments for Phase 2,” McKendall said. “It was only broken into two phases to make the funding work and get shovels in the ground faster.”
If and once financing is approved, progress would move quickly, McKendall said.
R.I. Housing is expected to announce awards in May 2026, after which ONB plans to start early site work for Phase 2 in summer 2026 and close on all financing by the fourth quarter.
With Phase 1 already underway, McKendall said crews could “seamlessly integrate” Phase 2 construction into the ongoing work.
The two-phase project at 350 Taunton Ave. includes the renovation of a four-story building and the construction of two additional four-story buildings. Phase 1 delivers 95 affordable apartments, community space, and onsite offices for social service partners while Phase 2 will add another 49 affordable units.
Phase 1 is scheduled to open for tenants in January 2027. If awarded funding in May 2026, Phase 2 is projected to be completed by fall 2027 with full lease-up by December 2027.
The full 144-unit development was designed as a single coordinated plan with partners Crossroads, Family Service of Rhode Island and Foster Forward.
The project’s affordability mix remains consistent across both phases, McKendall said. All 144 units will serve low- and moderate-income households.
McKendall said that approximately 36% of all units across both phases are reserved for residents earning up to 30% of area median income – roughly “rounded up to 40%” in general conversation – with Phase 2 having the deeper affordability.
To acquire the site and launch construction, ONB assembled a $1 million R.I. Housing grant, a $3.5 million loan from Local Initiatives Support Corp. Rhode Island, and a $154,000 East Providence Community Development Block Grant.
McKendall said Center City Apartments will “have a profoundly positive impact” on East Providence at a time when 46% of renters are cost-burdened and the average two-bedroom rent has climbed to $2,370 per month, according to HousingWorks RI.
The site’s location along a public bus route and near City Hall and local businesses, he said, will strengthen residents’ ability to connect with community resources.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
