EAST PROVIDENCE – Officials in East Providence broke ground Monday on an affordable housing development project by ONE Neighborhood Builders, a city-based nonprofit devoted to developing affordable housing.
Once completed, Residences at Riverside Square will include 16 one- and two-bedroom apartments, including three units which will be reserved for youth transitioning out of foster care, through a partnership with Foster Forward.
The development, scheduled to be completed in early 2024, is located at 336 Bullocks Point Ave., along the East Bay Bike Path and on the vacant site that used to house the factory for former jewelry manufacturer Vamco. Construction for the project, estimated to cost approximately $5.8 million, began in January, but officials held the official groundbreaking ceremony on Monday.
“We are extremely proud of all the hard work that is being done to help bring the Residences at Riverside Square to life,” said Jennifer Hawkins, ONE Neighborhood Builders president and executive director. “This groundbreaking is a signal that we can do big things when we work together. While this project on its own won’t solve the state’s housing crisis, it is an example of the kinds of projects – at scale – that can. Through continued support and collaboration, ONE|NB looks forward to continuing the development of affordable housing, which is at the heart of creating sustainable and equitable neighborhoods.”
The complex will include rental apartments for extremely low- to moderate-income households, according to a ONE Neighborhood Builders news release. To qualify, residents must have an income of between 30% and 80% of the area median income, which is an annual income of approximately $20,000 to $70,000, dependent upon household size.
Three apartments will be set aside for youths aging out of foster care, in partnership with Foster Forward. The complex will also include 16 off-street and seven on-street parking spaces.
“We are thrilled to again collaborate with ONENeighborhood Builders to provide affordable housing to our residents,” said Bob DaSilva, East Providence mayor. “The Residences at Riverside Square will not only bring new life to a property that sat vacant for years, but it will provide youth transitioning out of foster care, a place to call home. And to me, that’s a definite win!”
One Neighborhood bought the vacant land two years ago, after the city issued a request for proposals for the site. Last year, ONE Neighborhood secured $1 million in funding from the R.I. Housing and Mortgage Finance Corp. for the project.
“As a life-long resident of East Providence, it is amazing to see the city’s continued support of our communities,” said Sen. Valerie J. Lawson, D-East Providence. “This partnership with ONE|NB and Foster Forward will generate continued success for our residents, and I look forward to seeing the positive impact this development will bring.”
Claudia Chiappa is a PBN staff writer. You may contact her at Chiappa@PBN.com.
