In a significant step toward boosting affordable housing, Rhode Island Infrastructure Bank and the Department of Housing today announced a $2.88 million funding package for municipal infrastructure upgrades to support new affordable housing developments across the state. The funding, aimed at enhancing the infrastructure needed to support affordable housing, will benefit projects in Coventry, East Providence, Providence, West Warwick, and Pawtucket.
The announcement took place at the future site of RISE Pawtucket Apartments, where state leaders and local officials gathered to discuss the impact of the new funding. Governor Dan McKee, Pawtucket Mayor Donald Grebien, Representative Cheri Cruz, Senator Robert Britto, Rhode Island Infrastructure Bank Executive Director William Fazioli, interim Secretary of the RI Department of Housing Daniel Connors, and RISE Pawtucket site developer Francisco Cruz Matos all spoke on the importance of the project.
The funding, made possible through the Municipal Infrastructure Grant Program and the Housing Infrastructure Grant Awards program, was included in the state’s FY 2024 budget.
“Housing is the key to a stronger economy, and this funding helps spur housing development projects that will create homes for Rhode Island families who need them,” said Governor McKee. “I am grateful to the public and private partners who have supported these programs and our historic investments in Rhode Island’s housing.”
According to Rhode Island Infrastructure Bank Executive Director William Fazioli, the grants will address essential upgrades needed to move affordable housing projects forward. “Developing housing projects often requires upgrades to municipal infrastructure, including site preparation, stormwater management, sidewalks, and wastewater utilities,” he explained. “This $2.8 million will enable these projects to progress, providing much-needed homes for Rhode Islanders and addressing our affordable housing crisis.”
The largest share of the funding—$1.2 million—will go toward infrastructure improvements at the RISE Pawtucket Apartments, a development expected to bring 177 new residential units to 258 Pine Street. “This $1.2 million state grant for green and stormwater infrastructure improvements will ensure that 258 Pine Street is ready for development,” Mayor Grebien said. He thanked the state for its commitment to supporting transit-oriented development projects that expand housing options.
Francisco Cruz Matos, developer of the RISE Pawtucket Apartments, echoed the sentiment, highlighting the critical role of infrastructure funding in affordable housing development. “This Housing Infrastructure grant is essential to the construction and completion of our project, which will provide 177 new housing units,” he said. “We thank Governor McKee, the General Assembly, the Infrastructure Bank, and the Department of Housing for this vital support.”
The new infrastructure funding is part of Rhode Island’s broader strategy to tackle the housing crisis by ensuring that affordable housing projects are equipped with the essential groundwork. With these upgrades, the state aims to increase the availability of affordable housing for families and individuals across the region.