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Heritage Place, Woonsocket RI 

 

Located on the banks of the Blackstone River in Woonsocket, RI, Heritage Place is a landmark mixed-use development that transformed a blighted brownfields site into a bustling community center with shopping, new homes and office space for NeighborWorks Blackstone River Valley (NBRV). Anchored by a Dunkin’ Donuts and providing affordable housing to over 40 families, Heritage Place continues NBRV’s commitment to comprehensive community development.

Other Neighborhood Projects:

Heritage Place caps over 12 years of investment in Constitution Hill by NBRV, which has resulted in over 140 affordable apartments and homes, an arts center, neighborhood playgrounds and home-based child care centers.

LISC has supported NBRV’s transformation of this community with over $30 million in grants, loans and equity investments.

Developer:

NeighborWorks Blackstone River Valley

Total Units/Square Feet

43 affordable rental apartments and 16,500 square feet of retail and office space

LISC Investment:

$4.8 million in National Equity Fund Low Income Housing Tax Credits and a $50,000 recoverable grant.

Total Development Cost:

$10.3 million

Other Project Investors:

Housing Resource Commission, Rhode Island Housing and Mortgage Finance Corporation, Citizens Bank, Federal Home Loan Bank of Boston, and NeighborWorks America

SC Categories:

Expanding Investment in Housing and Other Real Estate
Increasing Family Wealth and income
Stimulating economic activity, locally and regionally