WPRO News and the Associated Press
PROVIDENCE, R.I. (AP) – Rhode Island Housing has approved more than $24 million in financing for two affordable housing developments in Providence’s West End.
The agency’s board approved $12.6 million in financing for the Phoenix Renaissance Apartments. The scattered site development is in the second phase of a major revitalization effort around Cranston Street by Omni Development Corp.
It will serve those at risk of being homeless and provide on-site supportive services.
Rhode Island Housing also approved $12 million in financing for Aaron Briggs Apartments, which serves seniors and people with disabilities. The funding will support 88 subsidized apartments and $2.3 million in upgrades and improvements.
The agency also announced Tuesday its board had approved issuing up to $90 million in bonds to support the development of affordable housing in Rhode Island.
