ProJo: State housing agency OKs financing for Lippitt Mill project

PROVIDENCE, R.I. — Commerce Secretary Stefan Pryor on Thursday morning lauded a vote by the Rhode Island Housing Board of Commissioners to approve final financing for the Lippitt Mill Apartments development in West Warwick.

The mill, the second-oldest in Rhode Island, will be reused as 65 apartments, including 28 affordable units, Eric Shorter of Rhode Island Housing told the board. The total project cost is $15.9 million, including $2.3 million in Rebuild RI tax credits.

Developer Kristopher Shaw said there will be a groundbreaking this fall, and he hopes construction will be completed by next summer.

Board member Kevin Orth said that in addition to providing needed mixed-income housing, the project includes the preservation of a site with “historical and cultural significance,” and it will also accomplish environmental remediation of the property.

To view the complete article, visit Providence Journal

Courtesy of Providence Journal

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