ProJo: HUD to complete foreclosure of 74-unit South Providence development
Rhode Island Housing's Board of Commissioners also approves awards totaling $3.5 million in federal Housing Trust Fund money to revitalize 145 more homes for Rhode Island families.
PROVIDENCE, R.I. — Rhode Island Housing's Board of Commissioners learned Tuesday that the U.S. Department of Housing and Urban Development will soon complete a long-anticipated foreclosure of the deteriorated Barbara Jordan II housing development in upper South Providence.
Rhode Island Housing will take over the vacant, 74-unit development until a new owner/developer can be identified. Executive Director Barbara Fields said the agency hopes a new owner will be able to add more affordable-housing units to the site, as well as return the original 74 apartments to habitable condition.
In September, the board approved a financing plan for the sale and rehabilitation of the 193 affordable-family apartments in the Barbara Jordan I development, which includes 82 two- and three-family houses at scattered sites in South Providence. The new owner, Omni New York, plans a $50-million-plus investment in the property.
Courtesy of Providence Journal