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Board approves $500,000 Rebuild Rhode Island tax credit for Providence housing redevelopment
Summary
The board approved a $500,000 Rebuild Rhode Island tax credit for Manton Development Partners LLC to support a 26‑unit redevelopment at 265 Manton Avenue, with roughly 20% of units set as workforce housing and planned solar installations on the parking structure.
Staff introduced a request to award a Rebuild Rhode Island tax credit of $500,000 to Manton Development Partners LLC for a redevelopment at 265 Manton Avenue in Providence (conversion of the deconsecrated St. Teresa's church). Staff said the project would create 26 units, about 20% of which would be workforce housing, and noted the developer previously received a TSA from the city and two state grants (a renewable energy grant to install solar panels and a site/grading grant).
The developer and other attendees spoke in favor of the project; one attendee noted familiarity with the neighborhood and supported the plan. A motion to approve the tax credit was made and seconded and carried by voice vote. Staff said construction can begin promptly and the project schedule is aggressive but expected to be completed within about 12 months.
