PROVIDENCE, RI - BLVD Communities announces the redevelopment of Braeburn and Chatham Apartments, a 91-unit affordable housing community located in Providence, Rhode Island.
Braeburn and Chatham Apartments consist of 4 locations, all within a 1.5 mile radius – a 21-unit two-story building, 24 townhomes, a 6-unit three-story building and a 40-unit three-story building. The overall unit mix consists of 1, 2 and 3 bedrooms. The townhomes are unique in particular as they are two-story masonry buildings that were originally constructed circa 1863-1864 by the Wanskuck Company to house company workers. The buildings are considered historic properties that contribute to the Wanskuck Mill Village Historic District, which is listed in the National Register of Historic Places.
All of the site exteriors will be renovated with a new fresh look with the exception of the townhomes which will maintain the existing historic fabric of the buildings. The building systems will be modernized with a focus on increasing energy efficiency. Each resident's home will be upgraded with new kitchens, bathrooms, flooring, paint and LED lighting. The renovation will also include new amenities such as a business center, dog park, BBQ and picnic areas.
BLVD's Managing Principal, Robert Budman, states, "It is exciting to kick off our first affordable housing redevelopment in the State of Rhode Island. We are grateful for RIHousing's assistance in bringing this project to fruition, and look forward to more projects within the state in the future."
"Preserving the existing housing stock of affordable rental homes is critically important for Rhode Island and its residents," said Carol Ventura, RIHousing's Executive Director. "The acquisition and rehabilitation of two existing affordable developments will provide residents with both interior and exterior improvements and systems upgrades, while also positively contributing to surrounding neighborhoods. And importantly, the affordability of these rental homes has been extended for another 40 years."
The redevelopment of Braeburn and Chatham apartments will have a positive impact on the community by preserving its affordability for individuals and families who fall in an income range between 30% and 60% of the area's median income. All units are covered by a Section 8 Housing Assistance Program (HAP) contract and the Low-Income Housing Tax Credit (LIHTC) requirements will keep the property available for income eligible residents through 2061.