Senator Jack Reed and residents of the newly completed Meadows project cut the ribbon on 80 units of affordable senior housing.

80 Seniors to benefit from affordable apartments at The Meadows

NeighborWorks Blackstone River Valley has completed their new affordable senior living community in North Smithfield

North Smithfield, RI - U.S. Senator Jack Reed, North Smithfield Town Administrator Robert B. Lowe, and Citizens Bank-RI President Joseph J. MarcAurele were amoung the dignitaries who gathered to celebrate the ribbon-cutting for Neighborworks Blackstone River Valley's (NBRV) new affordable senior housing development.

LISC, Rhode Island Housing and Citizens Bank are the project's major funders. Citizens Bank provided a $17.75 million loan. LISC invested $6.2 million in equity through the National Equity Fund -- as well as over $1 million in loans and operating support to NBRV.

“LISC is extremely proud to be a partner in supporting this development,” said Barbara Fields, Executive Director of RI LISC. “The Meadows provides beautiful homes for more than 80 residents and contributes to the well-being of this community. This is just another outstanding example of what can happen when we combine investment capital with the energy and determination of organizations like NBRV.”

The project helps move North Smithfield closer to its affordable housing goal. But as Town Administrator Robert Lowe stressed, much work remains to be done, "We had 400 applicants for 80 units (at The Meadows) so that means 320 people didn't make the cut, which shows how much further we have to go."

Click here to read the Woonsocket Call's coverage of the event

The Meadows in North Smithfied, RI