Accessing Affordable Housing Development in Rhode Island
GrantID: 11389
Grant Funding Amount Low: $100,000
Deadline: Ongoing
Grant Amount High: $250,000
Summary
Grant Overview
Barriers to Affordable Housing Development Partnerships in Rhode Island
Rhode Island faces a critical housing crisis, with an estimated shortfall of over 20,000 affordable housing units. This shortage places significant pressure on low-income families, many of whom spend more than 30% of their income on rent. The state has unique challenges tied to its small geographic size and urban concentration, particularly in Providence, where demand has surged without corresponding growth in affordable housing options.
The populations most affected by this crisis are low-income families and individuals facing economic hardships, including the elderly, single-parent households, and those experiencing homelessness. It is particularly pressing in urban areas where housing costs continue to rise, while wages have stagnated. The high cost of living combined with limited affordable housing options results in increased homelessness and displacement of vulnerable populations.
To address these barriers, the funding initiative aims to establish partnerships for affordable housing development across Rhode Island. Organizations can apply for grants to collaborate with local governments, developers, and non-profit entities to create inclusive and affordable housing projects that cater to the needs of low-income residents. This includes constructing new units as well as rehabilitating existing structures to meet modern safety and accessibility standards.
Moreover, the funding will facilitate community engagement sessions to ensure that housing projects reflect the needs of the local populations they serve. By fostering a collaborative approach, this initiative aims to promote inclusive community development that addresses the urgent housing needs across diverse neighborhoods in Rhode Island. The expected outcome is an increase in the availability of affordable housing units, leading to improved stability and quality of life for lower-income families in the state.
Ultimately, this funding opportunity seeks not just to address the housing crisis but also to promote equitable access to housing across Rhode Island’s diverse communities. By ensuring that new developments meet the needs of those they are intended to serve, this initiative could play a key role in alleviating the pressures of housing insecurity present throughout the state.
Eligible Regions
Interests
Eligible Requirements
