McKee Administration Awards $38.7 Million to Support The Production of 147 New Affordable Homes Across Rhode Island
PROVIDENCE, R.I. – Governor Dan McKee, the Executive Office of Housing (EOH), and RIHousing today announced $38.7 million in the final wave of awards through the state’s 2026 consolidated “One Stop” housing funding round. These latest investments will support the production of 147 affordable homes across Rhode Island.
“Under my administration, we’ve increased new housing permits by 150 percent, and we’re keeping that momentum going,” said Governor Dan McKee. “We’re investing another $38.7 million to bring 147 new affordable units to communities across Rhode Island. We’re making real progress toward our Housing 2030 goal of 15,000 new homes by 2030.”
The consolidated funding round is a key component of Rhode Island’s broader strategy to increase housing production and preservation, expand access to affordable homes, and leverage public resources to advance projects statewide. By bringing funding sources together through a coordinated process, the state is helping housing developers and community partners move projects from concept to construction more efficiently.
“Every housing project funded through this year’s One Stop represents more homes for Rhode Islanders and another step toward meeting the state’s Housing 2030 goals,” said Secretary of Housing Deborah Goddard. “We are grateful to the developers, municipalities, nonprofit organizations and community partners who continue to bring forward projects that will create new homes, preserve existing affordable housing, and strengthen neighborhoods across our state. The investments announced today build on the tremendous momentum we have created together, and we look forward to awarding more funding next year.”
“RIHousing is proud to partner with the Governor and the Executive Office of Housing to make these critical investments in communities across Rhode Island,” said Carol Ventura, CEO & Executive Director of RIHousing. “This final wave of awards demonstrates the strength of the housing pipeline and the continued demand for resources that can turn projects into homes that Rhode Islanders can afford and that communities can be proud of.”
Awarded developments include:
Tidewater School Street, Pawtucket (Pennrose, LLC): Received $21,069,772 to develop 76 new affordable homes, including 12 efficiency, 28 one-bedroom, 20 two-bedroom, and 16 three-bedroom units, serving households earning 30–80% of Area Median Income (AMI). Located within the larger Tidewater Landing redevelopment along the Seekonk River, Tidewater School Street will expand access to high-quality affordable housing for households with low-incomes and is well suited for families with nearly half of the homes offering two- or three-bedroom layouts. The broader Tidewater Landing project will include market-rate housing, retail and event space, recreational amenities, and a pedestrian bridge connecting both sides of the river. This development also qualifies for 4% federal Low Income Housing Tax Credits that will bring approximately $14 million in private investment into the project.
Winsor Gardens Phase I, Smithfield (Gemini Housing Corporation, Coventry Housing Associates): Received $7,368,115 to develop 29 new affordable homes, including 28 one-bedroom units and one two-bedroom unit, all designated for seniors earning up to 80% AMI. This project is an adaptive reuse of the William Winsor Elementary School. This is the first phase of a planned two phased project, with an additional 22 units planned for phase 2.
Public and Pine, Providence (S.W.A.P., Inc.): Received $10,264,497 to revitalize two blighted properties and construct 42 new affordable homes, including 26 one-bedroom and 16 two-bedroom units. Nine homes will be reserved for households earning at or below 30% of area median income (AMI), 26 for households earning at or below 60% AMI, and seven for households earning at or below 80% AMI. Five of the 30% AMI units will be reserved for individuals with intellectual and developmental disabilities (IDD), with access to supportive services that promote independent living and long-term housing stability. This development also qualifies for 4% federal Low Income Housing Tax Credits that will bring $8.87 million in private investment into the project.
All three projects also received local funding contributions from their respective municipalities, demonstrating a shared commitment to advancing affordable housing and underscoring the important role of municipal partnerships in leveraging state and private investment.
The 2026 consolidated funding round builds on the state’s historic commitment to housing, including the historic $120 million Housing Bond approved by Rhode Island voters in 2024. The bond is providing critical resources for affordable housing production and preservation; community revitalization and other investments aimed at addressing Rhode Island’s housing shortage.
With today’s awards, the McKee Administration continues its work to advance the goals of Housing 2030, Rhode Island’s statewide housing plan to increase housing production and create more opportunities for Rhode Islanders to find safe, stable and affordable homes.
