A look at three affordable housing projects planned in Newport County
The need for affordable housing in Newport County is not a secret.
Fortunately, there are projects in the pipeline to help ease some of the stress.
In a strict sense, the term "affordable housing" is applied to housing subsidies typically limited to households making 60% or 80% of Area Media Income (AMI), or a maximum of $89,400 for a household of four on Aquidneck Island.
The term "workforce housing" is most often used to indicate a program targeted at households earning too much to qualify for traditional affordable housing subsidies limited to households at 60% or 80% of AMI, and applies to households making 80 to 120% of AMI, or up to $139,920 for a household of four on Aquidneck Island.
Eligible tenants for rental assistance under the federal Section 8 program are families with income below 50% of AMI. Only certain individuals, such as elderly folks or people with disabilities eligible. In Newport, the individual income cut-off is $40,850, and the maximum (8-member) family cut-off is $77,000.
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All Rhode Island municipalities are required by law to maintain 10% of their housing stock as Low and Moderate Income Housing (LMIH). Six of Rhode Island’s 39 communities presently meet this goal: Burrillville, Central Falls, Newport, New Shoreham, Providence and Woonsocket.
Here are some of the major affordable housing projects being financed by RIHousing in Newport County. The statistics included are from the Rhode Island Department of Housing 2022 Integrated Housing Report and the 2022 HousingWorksRI 2022 Housing Factbook.
Newport
Total housing units: 13,250
Low and moderate-income housing (LMIH) units:1,853
Elderly units: 462
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2021 LMIH percentage: 15.9%
Park Holm IV is the fourth phase of the planned five-phase redevelopment of an existing 262-unit public housing development located in the North End. While the first three phases of redevelopment at Park Holm yielded a net gain of seven units overall, this proposed phase involves the demolition of 74 units in 21 buildings and the new construction of 51 units in six townhouse-style buildings, so Phase IV will result in an anticipated net loss of 16 units.
As a requirement of RIHousing’s Qualified Allocation Plan, the Housing Authority has provided a plan to complete a full one-for-one replacement within the proposed Phase V. According to a public document on the RIHousing website, the Housing Authority will submit an application for Phase V in 2024.
RIHousing approved on March 16, 2023, the issuance of an $11,400,00 bond and an additional $2,501,150 in loans to the Newport Housing Authority for the completion of Park Holm Phase IV.
Middletown
Total housing units: 8,334
Low and moderate-income housing units: 355
Elderly units: 94
What's the next step?: A Middletown project adding 51 affordable units has local approval.
2021 LMIH percentage: 5.16%
Units needed to achieve 10% LMIH: 332
West House II is a three-story, 54-unit addition proposed by Church Community Housing Corporation to be built alongside West House I, an existing 50-unit U.S. Department of Housing and Urban Development (“HUD”) Section 202 housing development that was built on Forest Avenue in 1996. Residents will have access to the West House I parking and common areas including the chapel, nurses’ office, library, game and fitness room, dining room, coffee shop, and computer lab. Residency will be restricted to people who are 55 years of age and older.
The development will be designed to meet passive house certification and will include a large solar array on the roof. Of the 54 units, six one-bedroom units will be available to households earning up to 30% of AMI who will be the beneficiaries of project-based HUD Section 811 vouchers. The remaining 34 one-bedroom units and 14 two-bedroom units will be available to households earning up to 60% AMI.
RIHousing approved at its February 16, 2023, meeting a $1,190,000 Low-Income Housing Tax Credit, a $2,480,000 mortgage and $1,994,784 in loan financing for Church Community Housing Corporation to complete West House II.
Portsmouth
Total housing units: 8,546
Low and moderate-income housing units: 204
Elderly units: 167
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2021 LMIH percentage: 2.75%
Units needed to achieve 10% LMIH: 537
Portsmouth does not currently have any affordable housing proposals being financed by RIHousing.
Tiverton
Total housing units: 7,591
Low and moderate-income housing units: 369
elderly units: 120
2021 LMIH percentage: 5.17%
Units needed to achieve 10% LMIH: 345
Bourne Mill III is a four-story, 59-unit mixed-income apartment building being developed by the Armory Revival Company on a vacant lot at the Bourne Mill complex. The project received approval on June 16, 2022, for $1,298,500 of Low-Income Housing Tax Credits and a taxable first mortgage loan of $4,375,000 for Bourne Mill III. The Developer envisions a 7 campus-style setting with synergies between the new building and Bourne Mill. Bourne Mill III will benefit from existing amenities at the complex, including a walking trail, waterfront access, a dog park, and use of the fitness center, billiards room, and community room.
This article originally appeared on Newport Daily News: Affordable housing projects proposed in Newport County
