PROVIDENCE – In an effort to address the housing shortage and homelessness in the Ocean State, the Rhode Island Foundation late Friday launched an initiative to boost housing creation in the state.
The foundation says it has hired Boston Consulting Group to help come up with recommendations that will be shared with the R.I. Department of Housing and state lawmakers.
A steering committee comprised of funders from the United Way of Rhode Island will oversee the initiative, the foundation said. This committee will engage stakeholders, such as leaders within the housing and homeless sectors, housing strategy, development finance and organizational design, the foundation said.
Foundation CEO and President Neil D. Steinberg told Providence Business News Friday that while the state housing department has separately put out a request for proposals to help with a long-term housing plan, this foundation-led initiative is designed to get “real action steps” in writing within the next couple of months related to the housing crisis.
Steinberg said private money will fund the initiative but says the contract with Boston Consulting Group precludes him from disclosing the specific cost. He said he expects the action steps will be announced within “the next couple of months.”
The foundation’s initiative comes at a time when the state has earmarked in this year’s budget $250 million in American Rescue Plan Act funds to address housing in Rhode Island, particularly affordable housing. The foundation said that according to HousingWorks RI’s 2022 Fact Book, residents who make a household median income of $70,305 cannot afford a home in the state. Plus, the U.S. Department of Housing and Urban Development says homelessness in the Ocean State increased by 50% from 2019 to last year.
The foundation says the initiative will have three priority areas. The first will be identifying short-term solutions and associated actions to meet the needs of Rhode Islanders who are unsheltered. Next, the initiative will seek to catalyze new housing production and ensure long-term organizational alignment and capacity within the state’s housing department. Also, the project team – which includes funders from the foundation, LISC Rhode Island and the Partnership for Rhode Island – will work with local stakeholders to conduct research intended to support developing a long-term housing strategy.
Steinberg said Boston Consulting Group will look at where in Rhode Island housing and homelessness is at its worst and where housing is most needed. He said local stakeholders will be helpful to Boston Consulting Group in identifying “where the hot spots are.”
“This is analyzing the challenges and coming up with action steps,” Steinberg said.
James Bessette is the PBN special projects editor, and also covers the nonprofit and education sectors. You may reach him at Bessette@PBN.com. You may also follow him on Twitter at @James_Bessette.
