WARWICK – Renovations have begun at Greenwood Terrace, at 2426 Post Road, a housing development for low-income seniors. The site includes 53 apartments.
The garden-style complex, constructed in 1978, will have upgrades to the units, common areas, windows and roof.
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The funding is derived from a $4.4 million loan insured through the U.S. Housing and Urban Development Federal Financing Bank.
The loan provides low interest rates and a 40-year term, which will lock in the apartments at affordable rates for that length, according to a news release.
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Mary MacDonald is a PBN staff writer.
