School Street Apartments
About the project
The Central Falls Affordable Housing Corporation (CFAHC) was established by the Central Falls Housing Authority in 1995 as a standalone nonprofit. This structure allows the organization to access grant sources not available to housing authorities. In 2018, Mayor Maria Rivera started supporting larger-scale affordable rental projects like School Street.
CFAHC serves the City of Central Falls in Rhode Island.
LISC provided a $500,000 predevelopment loan to support School Street Apartments, a newly constructed, 58-unit rental building in Central Falls, RI. Forty-three units will be reserved for households at or below 60% AMI and 15 units will be permanent supportive housing for households earning no more than 30% AMI. This loan was partially financed using Mackenzie Scott's gift to LISC.
Partner:
Central Falls Affordable Housing Corporation
Location:
Central Falls, RI
Total Investment:
$500,000
Results:
58 units
Project Category:
Affordable Housing
Specialized Funding Source:
Mackenzie Scott
Product:
Predevelopment Loan
Website:
UN SDGs:
