SMITHFIELD – Affordable-housing advocates and public officials announced the opening of Georgiaville Village Green this week.
The 42 new rental apartments are available to people who earn less than 60% of the area median income, or $51,900 for a family of four.
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Five apartments are available for very low-income residents, people who earn less than 30% of the area median income.
The project has been awarded “Outstanding Smart Growth Project” by Grow Smart Rhode Island. The project also was recognized by the Rhode Island chapter of the American Planning Association.
It was built on the former Narragansett Gray Iron Foundry mill site, according to a news release from the R.I. Housing and Mortgage Finance Corp.
The brownfield site was remediated as part of the redevelopment.
Located in the village of Georgiaville, the project was a joint venture between Gemini Housing Corp. and the Coventry Housing Association Corp., a nonprofit that creates affordable-housing communities.
Funding came from several sources, including $7.95 million in federal Low Income Housing Tax Credits, $650,000 in federal Department of Housing and Urban Development community development block grant funds, a construction loan from Citizens Bank and a $200,000 grant from the R.I. Department of Environmental Management.
Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.
