HousingWorks RI today released its third annual special report on foreclosures in Rhode Island. The report looks at the number of foreclosures in each of Rhode Island’s 39 cities and towns.

Key Findings:

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HousingWorks RI released today its latest Issue Brief, which examines the persistent need for long-term affordable rental homes in Rhode Island. Rhode Island has a higher percentage of renters than any other state in New England – with close to 40 percent of our residents renting their homes. Yet 1 in 4 of those renters is extremely cost burdened – spending 50% or more of their income on housing related expenses. Public investment in long-term affordable rental housing is necessary to ensure that Rhode Islanders, regardless of income, can live in safe, affordable apartments in thriving communities.

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HousingWorks RI today released its annual Fact Book on housing. The 2011 Fact Book features the overwhelming success of the state’s housing bond, also known as Building Homes Rhode Island (BHRI).

Passed in 2006 by majorities of voters in every city and town, the $50 million housing bond resulted in the development of 1,255 long-term affordable homes for Rhode Islanders in 30 communities – that’s 255 more than expected. 80 percent of the long-term affordable homes developed were rental, and 20 percent were home-ownership.

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Building Homes Rhode Island (BHRI), the program established by the State's Housing Resources Commission (HRC) to distribute Rhode Island's housing bond, has just awarded its final year of funds. Approved in 2006 by a majority of voters in every city and town, BHRI has made it possible for low- and moderate-income families - many whom represent critical occupations - to rent or buy a home in Rhode Island.

In its four years, BHRI has surpassed expectations by creating over 1,250 long-term affordable homes in 30 communities throughout the state. Economic analyses of BHRI investments have proven:

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Rhode Island Housing recently released its annual overview of the trends in the state's housing sector and their economic impact. Entitled 2011 Homes and the Economy, this report provides an important account of the challenging times facing both the housing and economic fronts, as well as early indicators of opportunity and recovery in Rhode Island.

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HousingWorks RI today released its second annual Special Report on Foreclosures in Rhode Island. The report looks at the number of foreclosures from January 2009 through December 2010 in each of Rhode Island’s 39 cities and towns and resulting negative impacts.

Key Findings:

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Two publications released earlier this month by the Center for Housing Policy (CHP) summarize findings from recent research on the ways in which affordable housing creates jobs and spurs local economic development.

The Role of Affordable Housing in Creating Jobs and Stimulating Local Economic Development: Evidence in Brief and its companion A Review of the Literature highlight several ways affordable housing development fuels economic growth, including:

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With the general election around the corner, HousingWorks RI has put together a Candidate Toolkit to better inform each candidate of the important role affordable homes play in growing Rhode Island’s economy.

The tool kit includes:

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Affordable housing development is going green and is helping to strengthen the state’s economy according to HousingWorks RI’s 2010 Fact Book on housing. The 2010 Fact Book examines the current state and future opportunities in the development of affordable homes in Rhode Island. Affordable homes are being built with green features and technologies that are also contributing to the growth of the green economy and jobs in the building trades.

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Chris Barrett at the Providence Business News recently wrote a story about HousingWorks RI's economic impact study of the Building Homes Rhode Island program. In it he quotes Albert Valliere Jr., president of Nation Wide Construction, who likely would have laid off 60 percent of his staff if not for the $8 million deal to construct Sweetbriar, an affordable housing development in Barrington.

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