One Neighborhood Builders gets $3M loan from Rhode Island Foundation for apartment development

ONE NEIGHBORHOOD Builders has secured a $3 million loan from the Rhode Island Foundation to fully fund the first phase of its Center City Apartments development in East Providence. Pictured above is one of three vacant properties on Taunton Avenue One Neighborhood builders purchased for the project. /COURTESY CITY OF EAST PROVIDENCE

EAST PROVIDENCE – One Neighborhood Builders has secured a $3 million loan from the Rhode Island Foundation for the first phase of its Center City Apartments development in the city. The loan announced Wednesday allows the nonprofit to secure financing for the first 95 apartments of the 144-unit development spanning three buildings along Taunton Avenue.

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